'Continues in January' Citi Bank Lowers Credit Loan Interest Rate for Office Workers by 0.8%

[Asia Economy Reporter Minyoung Kim] Korea Citibank continues its special interest rate reduction event into the new year.

Citibank announced on the 2nd that customers who apply for Citibank Employee Credit Loans through KakaoPay’s ‘Loan Comparison’ and enter the KakaoPay preferential code during the application process will receive special interest rate reduction benefits.

During the event period at the end of last year, Citibank provided these customers with an interest rate reduction benefit of 0.8 percentage points, which combined the existing KakaoPay partnership rate of 0.5% and an additional special sales preferential rate of 0.3%. The same benefits will be applied during the extended event period, allowing eligible customers to apply for employee credit loans starting from a minimum annual interest rate of 2.6%.

Additionally, regardless of whether customers have an existing relationship with Citibank, a 0.5 percentage point interest rate reduction benefit is offered for online applications. A promotion waiving early repayment fees is also being conducted for all customers who apply for loans by the event deadline of the 31st.

A Citibank representative stated, “Even customers without prior dealings with Citibank can conveniently use a generous credit limit of up to 27 times their monthly income without the hassle of submitting extensive documentation. The quick execution process, taking only about one hour from application to deposit, has steadily increased the number of users. In particular, the maximum interest rate reduction benefit of 1.3 percentage points?combining the existing online rate reduction of 0.5% and the 0.8% available when using KakaoPay?has generated additional demand from many customers in a short period, leading us to extend the existing event period.”

Meanwhile, KakaoPay’s ‘Loan Comparison’ is a service that offers loan products from various financial companies, helping customers in need of loans compare products based on desired limits and interest rate conditions. If users have a history of using ‘Credit Inquiry’ within KakaoPay, they can receive personalized loan product recommendations and assistance in managing repayment details after the loan.

This content was produced with the assistance of AI translation services.