K-Bank "Prevents Jeonse Fraud"... Introduces 'HF Jeonse Keeper Guarantee' Service

If the landlord fails to return the deposit, HF will reimburse it
Guarantee fee rate as low as 0.02~0.04%

K Bank has established a comprehensive safety care service to prevent jeonse fraud, allowing tenants to live in jeonse with peace of mind.

On the 24th, K Bank announced that it partnered with Korea Housing Finance Corporation (HF) to introduce the 'HF Jeonse Keeper Guarantee' in the K Bank application (app). This move comes amid growing social concerns over delays in returning rental deposits and jeonse fraud, aiming to help tenants proceed with jeonse contracts safely and conveniently.

The HF Jeonse Keeper Guarantee is a product where, if the landlord fails to return the deposit to the tenant after the lease contract ends, Korea Housing Finance Corporation (HF) reimburses the deposit to the tenant.

Compared to other guarantee institutions' return guarantees, it applies a relatively low guarantee fee rate of 0.02~0.04%, reducing the burden. A key feature is that users can check the eligibility for return guarantee subscription and the expected guarantee fee in advance before the jeonse contract or loan. Another advantage unique to K Bank is that various jeonse safety services can be used even without taking out a loan.

The usage method is simple. In the K Bank app, under the 'Real Estate' category, users can immediately check subscription eligibility and the expected guarantee fee in the 'HF Jeonse Keeper Guarantee' menu. Customers who have used jeonse loans from K Bank can even apply for subscription, and once completed, they receive separate guidance on the deposit return procedure at the end of the jeonse contract.

K Bank has previously launched the 'Jeonse Safety Service' and 'Our Home Change Alert' services to enable safe use of jeonse. The ‘Jeonse Safety Service,’ launched last December, allows users to easily check cautionary elements on the registry of apartments, officetels, and multi-family houses within the K Bank app. The 'Our Home Change Alert' service, launched in 2022, provides app push notifications if there are registry changes that may indicate risks such as jeonse fraud when apartment information under jeonse contract is registered in the K Bank app.

With the introduction of the HF Jeonse Keeper Guarantee, a full-care system for jeonse safety protecting tenants has been established. The entire jeonse contract process can be conveniently and safely conducted using only the K Bank app.

For example, by entering the address where the jeonse contract is to be made into the 'Jeonse Safety Service' before the contract, users can instantly check for any abnormalities in the registry and the eligibility for subscribing to the 'HF Jeonse Keeper Guarantee.'

By registering the address in 'Our Home Change Alert,' users receive real-time notifications of registry changes from before the contract through after moving in. Afterwards, by applying for a K Bank jeonse loan and proceeding with the jeonse contract and loan, users can subscribe to the HF Jeonse Keeper Guarantee to securely protect their deposit.

A K Bank official stated, "K Bank offers industry-lowest jeonse loan interest rates and functions that allow users to safely use the entire jeonse process?from searching for real estate, contracting, loans, subscribing to return guarantees, to real-time registry change alerts." He added, "We will continue to advance related convenience functions and services in the real estate category."