Applications Accepted Throughout December... No Separate Entry Required
[Asia Economy Reporter Minwoo Lee] KakaoBank will support the first month's interest for loans to middle and low credit customers.
KakaoBank announced on the 30th that it will hold this event for middle and low credit customers during the next month.
From the 1st to the 31st of next month, middle and low credit customers who newly execute 'Jungsinyong Loan', 'Jungsinyong Plus Loan', and 'Jungsinyong Emergency Loan' will be eligible. The first month's interest will be paid to the customer's KakaoBank account under their name without a separate application. Since its launch in 2017, KakaoBank has supported middle and low credit customers with a total interest amount of 11.2 billion KRW in this manner.
KakaoBank's 'Jungsinyong Loan' and 'Jungsinyong Plus Loan' are loan products targeted at salaried workers with at least one year of employment and a credit score of 850 or below (based on KCB credit score). The maximum limits are 100 million KRW and 50 million KRW respectively, with interest rates as of this date at a minimum annual rate of 5.910% and 7.959%. The KCB credit score can be checked through KakaoBank's internal credit information service.
The 'Jungsinyong Emergency Loan' is a minus account type loan product that can be executed without document submission regardless of workplace or income. The maximum limit is 3 million KRW and is applied differentially based on the screening results. The minimum interest rate as of this date is 7.653% per annum.
Meanwhile, among customers who executed middle and low credit loans through KakaoBank in the third quarter, more than half (51%) saw their credit scores increase, with an average increase of 53 points.
A KakaoBank official stated, "We will continue to lead inclusive finance with various benefits for middle and low credit customers."
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