National Credit Union Federation of Korea Lowers Policy Contract Loan Interest Rates by Up to 0.5% Points

The National Credit Union Federation of Korea announced on October 15 that it will temporarily lower the interest rate for policy contract loans.

From this day until November 14, customers can use policy contract loans at an interest rate reduced by 0.5 percentage points for up to three months.

A policy contract loan is a loan provided to customers who have subscribed to a policy product with the National Credit Union Federation of Korea, using their policy contract as collateral. It is not affected by an individual’s credit rating and does not incur an early repayment fee.

A representative from the National Credit Union Federation of Korea stated, "We planned the reduction in policy contract loan interest rates to provide practical support to users facing difficulties due to high inflation and high interest rates," adding, "We will continue to contribute to revitalizing the economy for ordinary citizens through various financial support activities."