IBK Industrial Bank Also Manages Household Loans... 'Interest Rate Reduction Rights' Cut by up to 0.4%P

Tightening Household Loans Starting from the 25th... Impact of Loan Interest Rate Increase

As commercial banks continue to raise loan interest rates to manage household loans, IBK Industrial Bank of Korea has also tightened household lending by reducing interest rate discount privileges.

According to the financial sector on the 21st, IBK Industrial Bank of Korea decided to reduce the interest rate discount privileges on household loan products by 0.1 to 0.4 percentage points starting from the 25th. Reducing interest rate discounts results in an increase in loan interest rates.

For non-face-to-face products, the interest rate on the i-ONE mortgage loan will increase by 0.3 percentage points. For the i-ONE jeonse loan products, the fixed type will increase by 0.4 percentage points, and the variable type will increase by 0.2 percentage points.

For face-to-face products, the interest rate on mortgage loans (5-year and 10-year cycle types) will increase by 0.2 percentage points, and mortgage loans (mixed types, etc.) will increase by 0.1 percentage points. Jeonse loans (fixed type) will rise by 0.3 percentage points, and jeonse loans (variable type) will increase by 0.1 percentage points. Additionally, other loans including unsecured loans and general real estate loans (excluding mortgage loans) will see a 0.2 percentage point increase, and power unsecured loans targeted at professional occupations will increase by 0.4 percentage points.

Furthermore, IBK Industrial Bank of Korea plans to limit the annual loan limit for living stabilization funds for one-homeowners under mortgage loans to 100 million KRW per collateral property.