Busan Bank Launches New Integrated Hae-sal Loan Products

Special and Standard Hae-sal Loan Programs

BNK Busan Bank announced on January 2 that, following the restructuring of the policy-based financial support system by the Korea Inclusive Finance Agency, it has newly launched the 'Hae-sal Loan Special Program' and 'Hae-sal Loan Standard Program,' replacing the previous Hae-sal Loan 15 and Hae-sal Loan Bank products.

The 'Hae-sal Loan Special Guarantee' is a product 100% guaranteed by the Korea Inclusive Finance Agency. It is available to individuals with an annual income of 35 million won or less and who fall within the bottom 20% of credit scores, with a maximum loan amount of up to 10 million won.

For general applicants among the eligible borrowers, the maximum annual interest rate is 12.5%, which is a 3.4 percentage point reduction compared to the previous Hae-sal Loan 15 rate of 15.9%. For socially disadvantaged applicants, the maximum annual interest rate is 9.9%, representing a 6.0 percentage point reduction from the previous rate.

The 'Hae-sal Loan Standard Guarantee' is a product 90% guaranteed by the Korea Inclusive Finance Agency. It is available to individuals with an annual income of 35 million won or less, or those with an annual income of 45 million won or less who fall within the bottom 20% of credit scores. The maximum loan amount is up to 15 million won, and the interest rate, including guarantee fees, is capped at an annual rate of 12.5%.

Jang Inho, Head of the Personal Customer Group at Busan Bank, stated, "With this restructuring of the Hae-sal Loan, we will continue to strengthen financial support for customers with mid- to low-credit who are marginalized from mainstream financial services."