Naver Pay Expands Credit Loan Interest Support Up to 100,000 Won

Double Benefits When Checking Your Credit Score

Naver Pay announced on the 5th that it will extend the 'Nationwide Interest Support Project,' which reduces the interest burden on unsecured loans, until April and expand the support scale. The maximum benefit is a 4 percentage point (100,000 KRW) reduction on the first month's interest rate, providing more support to users who took out loans at high interest rates.

If the interest rate on a new loan through Naver Pay is 10% or higher, users can receive 2 percentage points of the first month's interest as Naver Pay points; if it is below 10%, they receive 0.2 percentage points. Previously, the support ranged from 0.1 to 1 percentage point of the first month's interest.

Using the 'Naver Pay Credit Score' service, which allows systematic management of credit scores, increases the support benefits. Simply accessing the 'Naver Pay Credit Score' service page before and after executing the loan provides an additional 0.2 to 2 percentage points of the first month's interest rate benefit, supporting up to a maximum of 4 percentage points (100,000 KRW).

[Image provided by Naver Pay]

For more details, search for 'Naver Pay Loan Comparison' on Naver or click the 'Assets & Transfers' tab at the bottom of the Naver Pay application, then check under ‘Naver Pay Loan Comparison’.

A Naver Pay representative said, “As the benefits of the 'Nationwide Interest Support Project' increase throughout April, it will help reduce the interest burden for borrowers using loans with relatively high interest rates,” adding, “Naver Pay will continue to explore ways to lower financial costs for users.”