Check Actual Loan and Approximate Value in About 2 Minutes
[Asia Economy Reporter Minwoo Lee] Through Naver, users will be able to easily submit income verification documents using electronic certificates, check interest rates and loan limits close to actual screening results, and compare conditions across financial companies.
On the 29th, Naver Financial announced that it officially launched the ‘Naver Pay (N Pay) Credit Loan Comparison’ service the day before. It explained that users can now check accurate interest rates and limits based on their actual income information and execute loans under the most favorable conditions.
Naver Financial emphasized that this service is not only convenient by utilizing Naver electronic certificates but also highly accurate in terms of interest rates and limits. After checking loans on Naver Pay Credit Loan Comparison, users can easily submit income verification documents such as the health insurance premium payment certificate through Naver electronic certificates without separately entering personal and income information manually until the loan is executed on the financial company’s platform. Because the user’s accurate information is reflected from the loan comparison stage, interest rates and limits close to the final screening results can be confirmed.
At the time of launch, 50 financial companies joined, including seven banks such as Woori Bank, Hana Bank, and Jeonbuk Bank, as well as secondary financial institutions like savings banks, capital companies, card companies, and online investment-linked (P2P) finance businesses. Seven additional partner financial companies, including SC First Bank scheduled to be linked within the year, will be added by January next year.
The service is available in the ‘Loan Comparison’ section at the top of the Naver Pay mobile home screen. After identity verification and consenting to issue and submit electronic certificates via the Naver Certificate, credit evaluation and screening by 50 financial companies proceed, allowing users to check interest rates and limits in about two minutes. Loan execution is carried out by connecting to each financial company’s platform.
A protective measure has also been established to prevent loans from being inherited by family members if users experience unexpected accidents. If a user who executed a loan through Naver Pay Credit Loan Comparison suffers accidental death or severe disability of 50% or more, making it difficult to repay the remaining loan, the ‘Loan Safety Care’ service will repay up to 100 million KRW of the loan balance at the time of the accident free of charge for one year.
Park Sang-jin, CEO of Naver Financial, said, “Especially in times of rising interest rates, a reliable loan comparison service that finds the most favorable interest rates and limits for users is needed,” adding, “Going forward, ‘Naver Pay Credit Loan Comparison’ will establish itself as a loan comparison service that helps users borrow funds under the best conditions, repay without delinquency, and maintain healthy financial lives.”
Meanwhile, Naver Financial is also conducting various promotional events with the service launch. Until the 31st of next month, users who execute loans through Naver Pay Credit Loan Comparison and repay without delinquency will receive points to partially support interest payments.
Specifically, all users who check loans within the period will receive 2,000 Naver Pay points. After loan execution, repaying interest up to the second installment and completing a credit inquiry through the personal credit score management service ‘Naver Pay Credit Management’ will provide points ranging from a minimum of 30,000 KRW to a maximum of 100,000 KRW depending on the loan amount bracket. Additionally, 10 users will be selected by lottery to receive up to 2 million KRW in interest support points for one year. Detailed information about the event can be found on the Naver Pay ‘Credit Loan Comparison’ page.
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