Naver Pay, Mortgage Refinancing Comparison Amount Surpasses 3.9 Trillion Won

Only 6 Days After Release... Interest Rate Recommendations Up to 8.5%p Lower

Naver Pay's 'Mortgage Loan Refinancing' service recorded a comparison inquiry amount of 3.9 trillion KRW within just six days of its launch. From the 9th to the 16th, the first six business days since the refinancing infrastructure began, the number of comparisons made through Naver Pay's mortgage refinancing service was approximately 22,000 cases, amounting to 3.95 trillion KRW.

Among these, about 17,000 cases, or 79%, involving loans worth 3.09 trillion KRW were recommended products with lower interest rates than before. Cases that proceeded to the financial institution application stage reached about 9,400, totaling 1.66 trillion KRW.

Among the loans viewed through the Financial Payment Service's refinancing infrastructure on Naver Pay, the user who lowered their interest rate the most while maintaining the existing loan amount reduced their rate from 12.5% to an available application rate of 4.0%. This represents a maximum reduction of 8.5 percentage points.

The 'New Mortgage Loan' service also recorded over 46,000 comparison inquiries during the same period. Of these, about 5,600 cases proceeded with the application process at each financial institution. This service is the only one in the industry that allows users to check new loans from all partner financial institutions at once.

Naver Pay stated that the number of partner financial institutions for mortgage refinancing will continue to increase. Currently, Naver Pay is partnered with a leading number of commercial banks in the industry, including Shinhan, Woori, Hana, NH Nonghyup, IBK Industrial Bank, and SC First Bank.

An event is also underway until the 29th of next month, where users can receive up to 210,000 points simply by comparing mortgage loan interest rates on Naver Pay. Just by making inquiries for 'refinancing' and 'new loan' services, users can earn up to 5,000 points each. A 'Ranking Event' offering up to 100,000 points based on the amount of interest rate reduction or lowest interest rate ranking will also continue until next month.

A Naver Pay representative said, “Since there is no difference in interest rates or limits by platform for mortgage loans, it is reasonable to get recommendations from a platform where you can compare the most banks,” adding, “We hope users can reduce their loan interest burden and enjoy various point benefits on Naver Pay.”