KB Kookmin Bank to Launch "Interest Rate Reduction Request Agency Service" on 26th

Automatic Interest Rate Reduction Requests for Loans
MyData-Based Post-Management Support Included

KB Kookmin Bank announced on the 19th that on the 26th it will launch the "Interest Rate Reduction Request Agency Service," which helps customers apply in one go for interest rate reductions on loans from other financial institutions that are linked via MyData.

With the "Interest Rate Reduction Request Agency Service," once a customer submits a single application through the KB Star Banking app, KB Kookmin Bank will regularly check whether interest rate reductions are possible on loans from multiple financial institutions and will automatically submit interest rate reduction requests on the customer's behalf when the conditions are met.

This service follows the Financial Services Commission's designation in December last year of MyData-based interest rate reduction request agency services as an innovative financial service. It was introduced to substantially ease customers' interest burdens and to expand inclusive finance.

Customers can use the service by applying through the loan menu in the KB Star Banking app and then linking their loan information via MyData. The service can be used with only one financial company per customer, and for customers who apply, KB Kookmin Bank will continuously monitor changes in their credit status using MyData.

In particular, KB Kookmin Bank has strengthened its post-management function rather than simply notifying customers of the application result. If an interest rate reduction is not accepted, the bank will analyze and inform the customer of the reason for rejection and will also present measures to increase the likelihood of a rate reduction. If the customer's credit status improves thereafter, the bank will automatically reapply, continuously managing interest rate reduction opportunities that customers might easily miss.