K-Bank Launches Jeonse Loan Refinancing with "General Jeonse 3.39%" Rate

K Bank announced on the 31st that it has launched the "Jeonse Loan Refinancing" service, offering industry-lowest interest rates and no prepayment fees.

K Bank cited the industry's lowest interest rates as the biggest advantage of its Jeonse loan products. As of December last year, the average execution interest rate for K Bank's Jeonse loans was 3.81% per annum, the lowest among all banks.

As of this date, K Bank's "Jeonse Loan Refinancing" interest rates range from 3.39% to 5.99% per annum for general Jeonse loans, and from 3.44% to 3.75% per annum for youth Jeonse loans. Another strength is that all Jeonse loan products have no prepayment fees.

K Bank also emphasized that refinancing with its Jeonse loans can reduce interest burdens. According to the Bank of Korea's "Weighted Average Interest Rate of Financial Institutions" data, the average interest rate on Jeonse loan balances in November last year was 5.16% per annum. If a customer with an average interest rate refinances a Jeonse loan of approximately 220 million KRW to K Bank's Jeonse loan at 3.4% per annum, they can save about 3.87 million KRW in interest annually.

Refinancing of existing loans is possible within three business days. The K Bank application (app) provides a loan information comparison feature on the "Jeonse Loan Refinancing" screen. Customers can compare remaining loan balances and changing interest rates with their existing loans to see potential interest savings benefits.

K Bank's refinancing products can be found on the K Bank app, Naver Pay, and Toss. However, refinancing is only available if the customer's existing loan is guaranteed by the Korea Housing Finance Corporation.

A K Bank representative said, "With the launch of 'Jeonse Loan Refinancing,' customers who already have Jeonse loans can easily switch to K Bank's Jeonse loans with competitive interest rates," adding, "We will continue to strive to realize the vision of 'K Bank in daily life' by reducing customers' interest burdens."