Loan Limit of Up to 10 Million Won and Terms Up to 30 Months for E-7 and E-9 Visa Holders
Initially Available at 16 Specialized Sunday Branches for Foreigners at Hana Bank
Gradual Expansion Planned in the Future
Hana Bank announced on the 27th that it has launched a new credit loan product exclusively for foreign workers, called the "Hana Foreigner EZ Loan."
This initiative is part of Hana Bank's inclusive finance efforts to expand financial accessibility for foreign workers residing in Korea and to support their stable settlement in the country.
According to the Ministry of Justice's Immigration and Foreign Policy Headquarters, as of the end of 2024, there are approximately 2.65 million foreigners residing in Korea, of which 567,000 are foreign workers with employment qualifications. As foreign workers are staying longer and more are accompanied by their families, there is a growing demand for funds to cover living expenses such as housing and education, which has further increased the need for financial support for this group.
The "Hana Foreigner EZ Loan" was developed in response to these changing circumstances, aiming to improve financial accessibility for foreign workers employed in Korea and to support their stable settlement in the country.
The product is available to foreigners holding E-7 (Specific Activities) and E-9 (Non-professional Employment) visas, with loans of up to 10 million won. The maximum loan term is 30 months, taking into account the average stay of foreign workers and the expiration date of their visas.
Initially, the product will be offered face-to-face at 16 specialized Sunday branches for foreign workers across the country, both on weekdays and Sundays. Hana Bank plans to gradually expand the sales channels in the future.
A representative from Hana Bank's Retail Product Department stated, "The 'Hana Foreigner EZ Loan' was launched to make it easier for foreign workers residing in Korea to access the financial services they need in their daily lives. We will continue to expand our range of customized products to meet the diverse financial needs of our foreign customers."
In May of this year, Hana Bank also launched a foreigner-exclusive installment savings product, "Hana the EASY Installment Savings," which offers up to a 5% interest rate benefit depending on overseas remittance performance for foreign customers residing in Korea. With the launch of the "Hana Foreigner EZ Loan," Hana Bank is now supporting not only savings but also unexpected emergency funding needs, thereby leading genuine inclusive finance practices that help foreign customers build wealth and settle stably in Korea.
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