Gyeonggi-do Supports 'Jeonse Deposit Interest for Low-Income Households'... Applications Open from the 7th

Gyeonggi Province will begin recruiting beneficiaries for the ‘Jeonse Deposit Loan Guarantee and Interest Support for Low-Income Households’ program starting from the 7th of this month.

The Jeonse Deposit Loan Guarantee and Interest Support program is a project established through an agreement between Gyeonggi Province, Korea Housing Finance Corporation, and NH Nonghyup Bank. It provides support for loan guarantee fees and loan interest (up to 4%) for up to 4 years within a loan limit of 45 million KRW to low-income individuals who have difficulty obtaining loans from financial institutions, such as basic livelihood security recipients, near-poverty groups, and persons with severe disabilities.

Gyeonggi Provincial Government

Gyeonggi Province has allocated and secured a budget for recruiting new borrowers, which was not implemented in the first half of last year due to difficult economic conditions and inflation amid the economic downturn. This year, the province plans to recruit 1,300 new households and continue to support approximately 3,900 existing borrowers without interruption.

New loan applicants can apply in person at the administrative welfare centers in the towns, townships, and neighborhoods of cities and counties within the province or at the NH Nonghyup Bank Central Association (unit and regional Nonghyup branches are not eligible). Detailed application methods can be confirmed through the Gyeonggi Province call center (031-120) or the NH Nonghyup Bank call center (1588-2100).

Son Imseong, Director of the Urban Housing Office of Gyeonggi Province, stated, "We will strive to alleviate the housing cost burden and achieve housing stability by supporting the interest on Jeonse deposit loans for low-income households."