7 Companies Enter Monthly Rent Loan Market
Kakao Pay's loan comparison service will include Kakao Bank's jeonse and wolse loan products. This is the first time that jeonse and wolse loan products have been included in a loan comparison recommendation service by Kakao Pay.
On the 24th, Kakao Pay announced that Kakao Bank's jeonse and wolse loan products will be added to its loan comparison service, 'My Loan Limit.'
The products to be added are the ‘Kakao Bank SGI Jeonse and Wolse Deposit Loan’ and the ‘Kakao Bank HF Jeonse and Wolse Deposit Loan.’ The ‘Kakao Bank SGI Jeonse and Wolse Deposit Loan’ is offered up to 80% of the deposit, with a limit of 500 million KRW for non-homeowners and 300 million KRW for one-homeowners. The ‘Kakao Bank HF Jeonse and Wolse Deposit Loan’ also allows loans up to 80% of the deposit, with a limit of 222 million KRW. As of the launch date, both products are offered at interest rates in the high 3% range.
Currently, in addition to Kakao Bank, seven companies including Gyeongnam Bank, Busan Bank, Woori Bank, K Bank, Hana Bank, and SC First Bank have jeonse and wolse loan products listed on Kakao Pay. Users can check the most suitable and advantageous jeonse and wolse loans for themselves through Kakao Pay’s jeonse and wolse loan comparison service, ranging from Korea Housing Finance Corporation and Seoul Guarantee Insurance products to policy products such as the Support Jeonse Fund Loan.
Meanwhile, Kakao Pay has built the largest number of product categories in the industry, including not only jeonse and wolse loans but also credit loans, mortgage loans, and card loans. In credit loans, it has partnered most extensively with first-tier financial institutions in the industry. It intermediates both government-supported Support Loans and banks’ jeonse and wolse loan products.
A Kakao Pay representative said, "We have partnered with Kakao Bank to provide jeonse and wolse loan products so that financial consumers can compare a wider variety of products at once," adding, "We will continue to enrich our product lineup to broadly meet the diverse loan demands of users."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
