Lowest interest rate of 2.93%... Loan execution possible in as fast as one day
Aiming to launch SME loans in 2027
K Bank is strengthening its role as a corporate financial platform by launching the banking sector's first 100% non-face-to-face 'Sajangnim Real Estate Secured Loan' refinancing product. Following the launch of the first 100% non-face-to-face Sajangnim Real Estate Secured Loan in the financial sector last August, the product was expanded to subordinate loans in September, and now with the release of the subordinate refinancing product, K Bank has completed a portfolio targeting the sole proprietor market.
◆ Lowest interest rate 2.93%... Execution possible in as fast as one day
On the 18th, K Bank held a press conference to announce the newly launched sole proprietor loans, non-face-to-face innovations, and corporate banking enhancement strategies.
At the conference, K Bank unveiled the 'Sajangnim Real Estate Secured Loan' subordinate refinancing product. This loan is the first 100% non-face-to-face secured loan product for sole proprietors across all banks, offering up to 1 billion KRW with a maximum loan-to-value ratio of 85% based on market price, and a maximum term of 10 years to provide business operating funds.
After launching the senior loan product last August and expanding to subordinate loans in September, the portfolio was completed with the release of the subordinate refinancing product this March. A key feature is that refinancing is possible even for subordinate products where there are existing loans from other financial institutions on the real estate collateral or existing lease contracts.
Without the need to visit a branch and wait, the entire process?from loan limit inquiry, application and screening, collateral value assessment, document submission, to loan execution?is conducted 100% non-face-to-face, making it more convenient for busy sole proprietors. The ability to execute loans in as fast as one day and up to three business days is also a significant advantage compared to other banks’ sole proprietor loan products, which can take nearly two weeks.
To commemorate the launch of this subordinate refinancing loan product, K Bank plans to lower the minimum interest rate to 2.93% (as of March 18) and offer a support fund of 200,000 KRW to all customers who execute refinancing loans as part of a promotion.
The launch of the subordinate refinancing product is expected to allow more sole proprietor customers to benefit from reduced interest rates.
◆ Targeting SME loan launch in 2027... Diversifying corporate credit portfolio
With the launch of this sole proprietor real estate secured subordinate refinancing loan, K Bank has completed a sole proprietor credit portfolio including ▲ 'Sajangnim Guarantee Loan' based on credit guarantee foundation guarantees ▲ 'Sajangnim Credit Loan' based on credit ▲ and 'Sajangnim Real Estate Secured Loan' based on collateral.
Building on this, the bank aims to actively expand the corporate credit market and evolve into a platform that provides various services supporting corporate finance and business areas.
First, the collateral properties for sole proprietors will be expanded from the current apartments to include multi-family houses, row houses, officetels, and more, broadening the options for real estate secured loan products.
Furthermore, K Bank is preparing to launch a 100% non-face-to-face corporate loan product for small and medium-sized enterprises (SMEs) targeting the third quarter of 2027. The goal is to develop various products needed by companies based on the banking services currently provided by K Bank and offer innovative corporate financial services.
Since 2018, K Bank has been offering 100% non-face-to-face account opening services without transfer fees for corporate customers, along with deposit products such as demand and time deposits, smartphone OTP, and various certificate application services.
◆ 'Sajangnim Home' feature update... Evolving into a corporate financial platform
K Bank plans to continuously enhance the various functions and services provided to sole proprietor customers.
First, the 'Sajangnim Home' menu used by sole proprietors will be updated. 'Sajangnim Home' offers functions such as ▲ business accounts ▲ AI tax consultation ▲ credit reports ▲ comprehensive income tax refunds ▲ and sales management, enabling sole proprietors who have little time to easily access necessary business operation services non-face-to-face.
K Bank will improve the access UI of Sajangnim Home for easier and faster access and introduce a 'Receive Customized Policies' feature. This function allows users to view at a glance policy loan products, support funds, policies, and systems provided by government agencies, local governments, and private organizations to sole proprietors and small business owners.
Kim Minchan, head of K Bank’s Corporate Group, stated, "Through non-face-to-face innovative finance, we aim to resolve financial inconveniences faced by small business owners and reduce financial costs to continue efforts for mutual growth. We plan to further diversify our credit product lineup by entering the SME credit market and expanding collateral properties, evolving into a SOHO-SME (corporate finance) business platform."
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