KakaoBank to Prevent Jeonse Fraud Risk with Launch of HF Jeonse Protection Guarantee

Eligibility Check Available Before Loan Execution
Simultaneous Review of HF Jeonse Loans and Protection Guarantee
Rental Home Safety Assessment and Linked Legal Consultation Now Included

KakaoBank, in collaboration with the Korea Housing Finance Corporation (HF), is introducing the "Jeonse Protection Guarantee." This new product allows customers to check their eligibility for the guarantee before taking out a loan, and also streamlines the application process.

The "Jeonse Protection Guarantee" is a security deposit return guarantee product. If a landlord fails to return the deposit to the tenant without a valid reason after the contract ends, the tenant can recover the deposit through the Korea Housing Finance Corporation.

With this launch, KakaoBank has established a process to review both HF’s Jeonse and Monthly Rent Loans and the Jeonse Protection Guarantee simultaneously. Customers applying for HF or Youth Jeonse Deposit Loans can now check both their loan approval status and guarantee eligibility at the same time. This resolves the previous inconvenience of having to confirm guarantee approval separately after the loan was disbursed.

The application procedure has also been simplified. If within 30 days after the loan is executed, customers can apply for the Jeonse Protection Guarantee using the documents submitted at the time of loan application, without needing to provide additional paperwork. KakaoBank will first offer this service to new customers, and plans to expand it to existing Jeonse and monthly rent loan customers starting in November.

In December of last year, KakaoBank launched the "Smart Jeonse Management" service, continuing its efforts to provide convenient and safe housing services for customers. "Smart Jeonse Management" analyzes certified copies of real estate registers, building ledgers, and market prices to regularly assess the safety of rental homes and guide customers through necessary procedures before and after moving. Within just six months of its launch, the service surpassed 100,000 users, establishing itself as a leading housing service.

Since June, KakaoBank has also been offering legal consultations in partnership with the legal portal "LawTalk" to customers whose housing safety assessments are rated as "caution" or lower.

KakaoBank stated, "We have enhanced the completeness of our services not only to provide convenient housing solutions but also to help alleviate customers' concerns and questions," adding, "We will continue to introduce a variety of housing-related services in the future."