Hana Bank Launches Second Round of "Gyeonggi Youth Opportunity Ladder Financial Account" with Expanded Eligibility

Eligibility Expanded to Include Young People Aged 25 to 39 Who Have Lived in Gyeonggi Province for Over One Year

Hana Bank announced on April 21 that it will begin the second round of sales for the "Gyeonggi Youth Opportunity Ladder Financial Account," a product offered in partnership with Gyeonggi Province. This account allows young people aged 25 to 39 to access both low-interest loans and preferential savings rates through a single account.

The "Gyeonggi Youth Opportunity Ladder Financial Account" is a unique product in the banking sector, created through a business agreement between Hana Bank and Gyeonggi Province. It is designed to support the economic independence and stable financial lives of young people in Gyeonggi Province.

Notably, the second round of the "Gyeonggi Youth Opportunity Ladder Financial Account" features relaxed eligibility requirements compared to the first round, expanding the pool of eligible applicants and allowing more young people to benefit from the program.

Previously, only those aged 25 to 34 could apply, but the revised policy now includes individuals aged 25 to 39. In addition, the residency requirement has been eased to "at least one year of residence in Gyeonggi Province," enabling even more young people to qualify for the benefits.

To be eligible for the "Gyeonggi Youth Opportunity Ladder Financial Account," applicants must be residents of Gyeonggi Province with official registration and must have lived in the province for at least one year as of the application date. Young people who have been faithfully repaying their debts for at least 12 months after debt adjustment confirmation are also eligible. However, to ensure financial soundness, those with existing loans (including account overdrafts) of 50 million won or more are not eligible to apply.

To open the account, applicants must first apply and verify their eligibility through "Gyeonggi Minwon 24." Once eligibility is confirmed, they can easily apply for the dedicated product non-face-to-face via Hana Bank's mobile app "Hana OneQ" or "My Branch."

The overdraft loan limit for this account is 3 million won at the time of opening, and it can be increased to up to 5 million won upon renewal, provided the applicant's credit score is maintained or improved at the time of renewal.

The loan term can be extended in one-year increments for up to 10 years. As of April 21, the loan interest rate is 3.772% per annum (based on the new 6-month COFIX rate), which is the preferential rate agreed upon with Gyeonggi Province and is applied equally to all eligible youth.

Additionally, if the loan limit is not used, a preferential interest rate of 1.95% per annum is applied to deposits up to 5 million won. The account also offers various benefits, including preferential exchange rates and remittance fees for foreign currency transactions, as well as reduced fees for interbank transfers and cash withdrawals.

To commemorate the second round of sales, Hana Bank is also holding a variety of events. Customers who open a "Gyeonggi Youth Opportunity Ladder Financial Account" during the event period will be entered into a draw to win special prizes such as a unique "Money Clock," Hana Money, and coffee coupons.

In addition, Hana Card is waiving the issuance fee for the "Gyeonggi Youth YOUNG Hana Check Card" and holding an event where customers who make their first purchase of at least 5,000 won at one of Korea's four major convenience store chains will receive a 5,000 won cash cashback.

A Hana Bank Retail Group representative stated, "We hope that expanding eligibility for the 'Gyeonggi Youth Opportunity Ladder Financial Account' will help more young people benefit and achieve economic independence. Hana Bank will continue to provide a variety of mutually beneficial financial products and differentiated services to offer practical support to more young people as they plan for their futures."