K Bank Lowers Apartment Mortgage Loan Interest Rates... Refinancing Loans Starting at 3.43% Annually

K Bank announced on the 17th that it has lowered interest rates on apartment mortgage loans and jeonse loans.

According to K Bank, the interest rates for variable-rate loans such as refinancing loans, living stabilization funds, and jeonwolse deposit refund funds under apartment mortgage loans were reduced by 0.08 percentage points, and fixed rates were lowered by 0.12 percentage points. However, purchase funds were not subject to a separate rate reduction.

Accordingly, the variable interest rate for refinancing loans, which was 3.56% to 5.97% per annum the previous day, has been lowered to 3.43% to 5.85% per annum. The variable rates for living stabilization funds and jeonwolse deposit refund funds were adjusted from 3.63% to 5.78% per annum to 3.54% to 5.69% per annum.

The fixed interest rate for apartment mortgage loans (excluding purchase funds) was reduced from 3.79% to 5.57% per annum to 3.65% to 5.46% per annum. The fixed rate is maintained for the first five years of the loan, after which the rate changes every 12 months.

K Bank also lowered the fixed interest rate on jeonse loans by 0.15 percentage points starting today. The fixed interest rate for jeonse loans, which was 3.94% to 4.01% per annum, has been reduced to 3.79% to 3.84% per annum as of today.

A K Bank official stated, "Considering the increase in household debt, we decided to lower interest rates on apartment mortgage loans and jeonse loans excluding purchase funds," adding, "We will continue to provide competitive interest rates and do our best to reduce household interest burdens."