Finda Sees 30% Increase in Loan Agreements and 27% Rise in Loan Amounts Within a Month

Average Contract Interest Rate Down by 0.2 Percentage Points

Loan-specialized fintech company Finda announced on the 24th that the number of users who took out loans through its AI loan comparison platform 'Finda' increased by 30% within a month.

Finda January Loan User Data. Provided by Finda

According to Finda, the number of users who completed loan agreements on the Finda app during the third week of this month (13th?19th) increased by 30% compared to the third week of last month (16th?22nd).

The loan amounts they received also rose by 27%, and the number of loan applications increased by 35%. During the same period, the number of users checking their credit limits grew by 26%, marking the highest weekly figure in nine months since April last year.

In particular, demand for bank loans surged explosively. The number of users who took out bank loans through Finda increased by 102%, and the loan amounts rose by 197%.

Loans from secondary financial institutions also saw a 20% increase in loan agreements. Loan amounts grew by 14%, and the number of applications increased by 37%.

Finda explained that the increase in loan users this month was due to improved loan conditions. During this period, the average loan interest rate for users who took out loans through Finda decreased by 0.2 percentage points. The average loan amount also increased by 510,000 KRW.

The loan approval rate of partner financial institutions also rose by 3.5 percentage points, thereby expanding customers' options.

As loan conditions improved, users visited Finda more frequently. Existing users’ loan agreements increased by 32%. The figures were also high for new app installers (15%) and users who signed up last year and revisited this year (17%).

Lee Hye-min, co-CEO of Finda, said, "As the loan conditions such as interest rates and limits of financial institutions partnered with Finda improve and approval rates increase, real demand customers are executing many loan agreements through the Finda app. Since Finda offers over 400 loan products from 75 financial institutions, we will provide high-quality products and services to broaden loan customers’ choices."