K-Bank Launches Jeonwolse Deposit Return Loan

K Bank announced on the 21st that it has launched a Jeonwolse Deposit Return Loan.

The Jeonwolse Deposit Return Loan is a loan taken out by landlords who have rented out their homes as jeonse or monthly rent to return the jeonwolse deposit to tenants.

K Bank's Jeonwolse Deposit Return Loan offers a choice between a fixed-mixed interest rate (fixed interest rate) and a variable interest rate. If you choose the fixed interest rate, an annual rate of 4.29% to 5.32% as of the day applies, and if you choose the variable interest rate, an annual rate of 4.15% to 6.01% applies.

To be eligible for the loan, the customer must own an apartment in their name alone or jointly with their spouse, with a market price listed by the Korea Real Estate Board, and must be one of the following: a salaried worker employed at their current job for more than one month, a self-employed individual who can issue a certificate of income amount, or a customer who meets K Bank's internal screening criteria.

The loan limit is determined up to a maximum of 1 billion KRW based on the region, apartment market price, and the customer's income and debt status. The repayment method can be chosen between equal principal and interest installment repayment and equal principal installment repayment, and the loan period can be selected in 5-year increments from 10 to 40 years. A grace period of up to one year can also be set.

K Bank's Jeonwolse Deposit Return Loan is available even for homes where the customer does not actually reside, as long as the purpose of returning the deposit is confirmed. However, to prevent misuse of the loan funds, the tenant must move out of the apartment used as collateral on the day the loan is executed.

A K Bank representative said, "We hope that K Bank's convenient and prompt Jeonwolse Deposit Return Loan will help resolve the reverse jeonse crisis."