Toss Bank Surpasses 200 Billion KRW in 'Haetsallon Bank' Loan Supply

Toss Bank announced on the 27th that the supply amount of its ‘Haetsalron Bank’ product surpassed 200 billion KRW just over three months after its launch.

According to Toss Bank, during this period, a total of 28,000 customers used Haetsalron Bank, with the highest proportion being those in their 40s and 50s or older at 56.7%, followed by those in their 30s (27.7%) and 20s (15.6%).

Haetsalron Bank is a policy financial product designed to support low-income and low-credit individuals who have used policy-based financial products (such as Saeheemang Holssi, Geunroja Haetsalron, Haetsalron 15·17, etc.) to stabilize in the banking sector through debt or credit improvement. Toss Bank was the first internet bank to launch the Haetsalron Bank product on August 17.

Toss Bank cited enhanced customer accessibility as the reason for the rapid supply of Haetsalron Bank. The application process for Haetsalron Bank is more convenient than that of commercial banks. Additionally, push notifications were sent first to eligible customers to guide them in using Haetsalron Bank.

A Toss Bank representative said, “The rapid supply of Haetsalron Bank is the result of efforts to increase customer accessibility and coexist with customers,” adding, “We will take the lead in actively embracing sound middle- and low-credit customers and including financially marginalized groups.”

In line with the purpose of expanding mutual growth finance, Toss Bank plans to launch a ‘Special Guarantee for Lowest Credit Score Holders’ product next year in cooperation with the Korea Inclusive Finance Agency. The target customers are ‘lowest credit score holders’ who are in the bottom 10% of credit scores and have an annual income of 45 million KRW or less.