DGB Steps Up for Struggling Small Business Owners... DGB Daegu Bank Promotes Interest Rate Reduction for 'COVID-19 Affected Individual Entrepreneurs'

When Loans Exceeding 7% Annual Interest Mature, Interest Rate Reduction Benefits Up to 1%p Available

DGB Daegu Bank Interest Rate Reduction Image.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] DGB Daegu Bank is offering up to a 1%p interest rate reduction to ease difficulties faced by individual business owners due to the prolonged COVID-19 pandemic and the sharp rise in loan interest rates.

This interest rate reduction, which began on the 29th, applies only to individual business owners affected by COVID-19 who have received maturity extensions or repayment deferrals from DGB Daegu Bank.

When a loan with an interest rate exceeding 7% reaches maturity, borrowers can receive an interest rate reduction benefit of up to 1%p. This service is available after consulting at a DGB Daegu Bank branch.

A DGB Daegu Bank official stated, “We hope this interest rate reduction will provide some relief to individual business owners struggling due to the prolonged COVID-19 situation.”