NH Nonghyup Capital Waives Early Repayment Fees for Loans to Multi-Child Families and the Self-Employed

"Launch of Tailored Mid-Interest Rate Loan Products for the 2030 Generation in the Second Half of the Year"

On July 7, NH Nonghyup Capital announced that it will fully waive early repayment fees for loans to households with multiple children and self-employed individuals. This move is in line with the new government’s prioritization of supporting small business owners and addressing low birth rates, and the company intends to introduce financial support measures accordingly.

Yeouido NH Nonghyup Capital Headquarters, Yeongdeungpo-gu, Seoul. NH Nonghyup Capital

First, the company will completely exempt early repayment fees for loans to multi-child families and self-employed individuals, and will introduce new preferential interest rate benefits for these groups.

Previously, an early repayment fee of 0.8% to 1.5% was charged for early loan settlements. Going forward, these customer groups will be able to repay their loans freely or refinance under more favorable conditions without incurring any fees.

For multi-child families, loan interest rates will be further reduced to ease the real financial burden on households with childbirth and childcare responsibilities.

For self-employed individuals, the company will also support refinancing of existing loans at lower interest rates and under more favorable terms, in connection with various recent government financial support policies such as refinancing programs, long-term installment repayment, and interest rate reductions. Small business owners experiencing business closure or temporary management difficulties will also benefit from both the waiver of early repayment fees and reduced interest rates.

In addition, in the second half of the year, the company plans to launch a tailored mid-interest rate loan product for the 2030 youth generation. By introducing new screening methods such as alternative credit evaluation, the company aims to make loans available at reasonable interest rates to young people with limited financial histories, entry-level employees, and freelancers.

This product will assess creditworthiness based not only on credit scores, but also on factors such as future income and non-financial data. Through this, young people will be able to obtain funding at mid-level interest rates instead of high-interest products.

Jang Jonghwan, CEO of NH Nonghyup Capital, stated, "In line with the new government's policy direction, we will take the lead in financial inclusion for multi-child families, self-employed individuals, young people, and other socially vulnerable and future generations," adding, "We aim to become a financial institution that truly helps improve customers’ lives and the economy by alleviating real financial burdens and developing customized products."

NH Nonghyup Capital plans to fulfill its role as a reliable financial partner for ordinary citizens and all sectors of society, based on its four core values: customer-centricity, mutual growth, ethical management, and a future-oriented approach.