Shinhan Bank Supports Utility Bills for Youth Jeon-Wolse Loan Borrowers

Expansion of Mutual Growth Finance to Alleviate Living Expense Burden for Young Customers

Shinhan Bank announced on the 22nd that it will promote a utility bill support program to alleviate living expenses for young customers using Jeonse and monthly rent loans.

This program by Shinhan Bank is being carried out to expand win-win finance and implement the livelihood finance support voluntary program. Eligible customers are those who newly take out Shinhan Bank's youth Jeonse and monthly rent loans between June and November and have at least one transfer record of utility bill-type payments such as maintenance fees, insurance premiums, or communication fees during the same period.

The eligible loans include Shinhan Bank's "Shinhan Youth Jeonse Loan," the Housing and Urban Fund's "Youth-Only Support Jeonse Fund Loan," "Small and Medium Enterprise Employment Youth Jeonse and Monthly Rent Guarantee Loan," and "Youth-Only Guaranteed Monthly Rent Loan." For these customers, without any separate procedure, Shinhan Bank plans to deposit 100,000 KRW as utility bill support funds into the loan principal and interest automatic transfer account in December. However, customers whose accounts are restricted due to seizure or other limitations on deposits and withdrawals are excluded.

A Shinhan Bank official said, "We hope this utility bill support program will help reduce the living expenses burden for young people even a little," and added, "We will continue to strive to develop various financial products and services for the youth who will lead our society."