Woori Bank Launches Loan with 'Up to 10 Years Installment Repayment'... "Easing Repayment Burden"

Refinancing Available for Vulnerable Borrowers
Who Have Had Loans for Over One Year

Woori Bank announced on the 11th that it has launched the ‘Woori Win-Win All-Care Loan (Saehimang Holssi II),’ which allows vulnerable borrowers to repay in installments over a maximum of 10 years to ease their repayment burden.

The target customers are those who have Woori Bank credit loans with an annual income of 40 million KRW or less, or an annual income of 50 million KRW or less with a personal credit score in the bottom 20%. Refinancing is only possible for loans that have passed more than one year since the initial disbursement date. However, if the borrower loses eligibility due to unemployment, business suspension, or closure, they can apply regardless of the initial disbursement date.

The loan limit is up to 35 million KRW per person, with installment repayments over a maximum of 10 years without a grace period. All customers receive a special preferential interest rate (win-win preferential rate) of 1.0%p annually for one year, with interest rate benefits up to a maximum of 2.0%p. The total sales limit is 100 billion KRW, and applications can be made by visiting Woori Bank branches in person.

A Woori Bank official stated, “Through the launch of the ‘Woori All-Care Loan (Saehimang Holssi II),’ we aim to fulfill our social responsibility in finance and will continue to serve as a ‘ladder’ to help vulnerable borrowers maintain stable financial lives.”