Toss Bank announced on the 5th that it has launched the ‘Easy-One Guarantee Loan,’ allowing individual business owners to complete the entire process of Credit Guarantee Fund guaranteed loans non-face-to-face through the app, becoming the first internet-only bank to offer this service.
The ‘Easy-One Guarantee Loan’ enables users to complete the entire process?including loan application, document submission, guarantee certificate issuance, loan agreement, and execution?non-face-to-face within the Toss Bank app without visiting the bank or the Credit Guarantee Fund. The loan is available to individual business owners who have operated their business for more than one year since opening, with a maximum limit of 100 million KRW and an interest rate as low as 5.05% per annum. The loan is secured by a guarantee certificate from the Credit Guarantee Fund. The loan term is up to 5 years, and there is no prepayment penalty.
Earlier this year, Toss Bank also improved its ‘Sajangnim Loan’ service to allow individual business owners to check both credit loans and guarantee loans with a single click. The Easy-One Guarantee Loan can be applied for through the ‘Sajangnim Loan’ menu within the Toss Bank app, where it can be compared alongside other loan products such as Sajangnim Credit Loan, Saessalron Bank, and Ontact Guarantee Loan in terms of interest rates and other conditions.
A Toss Bank representative said, "Busy individual business customers can now quickly receive funds through the Toss Bank app whenever needed without visiting the bank or the Credit Guarantee Fund," adding, "We will continue to introduce various products and services to help our individual business customers receive financial support more conveniently."
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