Due to soaring household loans... Shinhan Bank raises mortgage loan interest rates by up to 0.5%p

Shinhan Bank will raise mortgage loan interest rates by up to 0.5 percentage points.

Shinhan Bank announced on the 12th that it will increase interest rates on mortgage loans and jeonse deposit loans starting from the 16th to respond to the rapid expansion of household debt.

First, for mortgage loans, the interest rates for 6-month and 10-year products will be increased by 0.3 percentage points, and the 5-year financial bond product will be raised by 0.35 percentage points. For mortgage refinancing products, both 6-month and 5-year terms will be increased by 0.5 percentage points.

For jeonse loans, the Korea Housing Finance Corporation guaranteed products will see an increase of 0.2 percentage points for 6-month and 1-year terms, and 0.25 percentage points for the 2-year term. Seoul Guarantee Insurance guaranteed products will also increase by 0.3 percentage points for 6-month and 1-year terms, and 0.35 percentage points for the 2-year term.

Jeonse loan refinancing products will also see adjustments: Korea Housing Finance Corporation guaranteed products will increase by 0.2 percentage points for 6-month and 2-year terms, Seoul Guarantee Insurance products will increase by 0.2 percentage points for 6-month and 0.3 percentage points for 2-year terms. Korea Housing & Urban Guarantee Corporation guaranteed products will have the 2-year term increased by 0.2 percentage points.