KakaoBank Launches 'HaetsalronBank'... Expanding Inclusive Finance

The Only Internet-Only Bank Offering Both 'Haetsalron15' and 'Haetsalron Bank'

KakaoBank is expanding inclusive finance in line with the government's measures to strengthen support for low-income financial services.

On the 2nd, KakaoBank announced that it will offer 'Haetsalron Bank' as a new policy low-income financial product, following 'Haetsalron15' launched in October 2020.

'Haetsalron Bank' is a bridging product designed to help low-income and low-credit users who have used policy low-income financial products to settle in the banking sector through debt or credit improvement.

Policy low-income financial products include SaeHope Holssi, Miso Finance, Worker Haetsalron, Business Haetsalron, Haetsalron15, Haetsalron17, Bakkwo Dream Loan, Safety Net Loan, Safety Net Loan 2, Haetsalron Youth, and Haetsalron Bank.

The support targets are low-credit and low-income individuals who have used policy low-income financial products for more than six months or are currently using them and have faithfully repaid (or have not passed three years since normal completion) and whose debt or credit has improved. Detailed conditions include workers with an annual income of 35 million KRW or less (regardless of credit score) or an annual income of 45 million KRW or less with a personal credit score in the bottom 20%, eligible for guarantees from the Korea Inclusive Finance Agency.

The limit for Haetsalron Bank is up to 25 million KRW, and the loan interest rate including guarantee fees ranges from a minimum annual rate of 6.007% to a maximum of 10.285% (as of April 2, 2025). The loan period is either 3 or 5 years, with an optional one-year grace period if needed. The repayment method is equal principal and interest installment repayment.

Since 2020, KakaoBank has been the only internet-only bank to offer 'Haetsalron15.'

'Haetsalron15' is a policy low-income financial product guaranteed by the Korea Inclusive Finance Agency that supports the lowest credit borrowers, who otherwise have no choice but to use high-interest loans such as private loans or illegal financial services, to access bank loans if they meet minimum criteria.

A KakaoBank official said, "We are striving to supply and support funds to financially vulnerable groups such as middle- and low-credit borrowers and those with insufficient financial history despite difficult circumstances," adding, "We will continue to do our best to expand inclusive finance through our capabilities in developing data-based credit evaluation models and risk management."