Shinhan Bank Lowers Household Loan Interest Rates by up to 0.2%P

Shinhan Bank to Lower Mortgage Loan Rates by 0.1 Percentage Points Each Starting June 14

Shinhan Bank will lower the household loan additional interest rate by up to 0.2 percentage points starting on the 14th.

According to the financial sector on the 7th, Shinhan Bank plans to reduce the interest rates on mortgage loans for home purchase funds and living stabilization funds (limited to financial bond 5-year and 10-year benchmark rate products) by 0.1 percentage points each from the 14th.

On the same day, credit loans will also be adjusted downward by 0.1 to 0.2 percentage points depending on the product type through the establishment of preferential interest rates. Seven types of credit loan products, including Solpyeonhan Workplace Loan, Elite Loan, Salary Loan, and Saehopeum Holssi Loan, will be subject to this adjustment.

However, measures currently in place to prevent an increase in household loans due to speculative demand?such as the metropolitan area loan term limit (30 years), restrictions on mortgage loans for multi-homeowners' purchase funds, and conditional restrictions on ownership transfer for landlords?will be maintained.

A Shinhan Bank official stated, "We decided to lower loan interest rates to alleviate customers' financial burdens."