Toss Also Allows Subscription to Jeonse Deposit Return Guarantee

Up to 700 Million... Apartments and Villas Also Possible

It is now possible to subscribe to the Jeonse Deposit Return Guarantee through the mobile financial service Toss.

Toss operator Viva Republica announced on the 6th that it will start offering this service through the Toss application (app).

The Jeonse Deposit Return Guarantee is a product that takes responsibility for returning the Jeonse deposit that the landlord must return to the tenant at the end of the Jeonse contract. The guarantee institution pays the deposit on behalf of the landlord and later claims the amount from the landlord.

Toss's guarantee product can be subscribed to before half of the Jeonse contract period has passed. It can be used if the landlord does not return the Jeonse deposit within one month after the end of the Jeonse contract, or if the tenant fails to receive the Jeonse deposit after filing a dividend claim due to auction or public sale.

The eligible housing for the Jeonse Deposit Return Guarantee includes apartments, residential officetels, multi-family houses, row houses, and villas. The contract must be for one year or longer and signed under the name of the tenant applying for the subscription.

The Jeonse deposit amount condition is up to 700 million KRW in the metropolitan area and up to 500 million KRW in other regions. There must be no special clauses prohibiting collateral or transfer of the deposit return claim, and subscription can be made without the landlord's consent.

Toss's Jeonse Deposit Return Guarantee service is a guarantee product of the Housing and Urban Guarantee Corporation (HUG). For the Jeonse Deposit Return Guarantee products sold and managed by HUG, users can complete the entire process within the Toss app, including ▲subscription application ▲document submission ▲review ▲review result confirmation ▲payment.

It can be accessed by selecting the "All" tab in the Toss app and entering the real estate section. Users can check the estimated amount, apply for the guarantee, receive application results, pay the guarantee fee, and complete the subscription. In addition to a 3% non-face-to-face discount, 15,000 Toss points are additionally credited.