IBK, Launches 'I-Won Hetsalron Youth' to Support Youth Living Stability Funds

[Asia Economy Reporter Haeyoung Kwon] IBK Industrial Bank launched the 'I-Won 햇살론 Youth' on the 23rd, a living stabilization fund support program targeting young people.

The loan targets are university (graduate) students, unemployed youth, and social beginners who have worked at small and medium-sized enterprises for less than one year, aged 34 or younger, with an annual income of 35 million KRW or less. The loan interest rate is 3.5% per annum, with a maximum limit of 12 million KRW. The repayment method is principal equal installment with a maximum term of 15 years.

IBK customers can apply for and issue a guarantee certificate through the Korea Inclusive Finance Agency application without visiting a branch, and then execute the loan via IBK mobile banking 'I-Won Bank.' The guarantee fee rate is applied differently depending on the customer, and early repayment is possible without additional fees.

IBK provides loan users with benefits such as ▲exemption from electronic financial fees and ATM transfer fees ▲consultation linkage for the youth-exclusive loan product for small and medium-sized enterprise employees, 'IBK First One Loan' ▲benefits for using the small and medium-sized enterprise specialized job platform 'I-Won Job.'

An IBK official said, "Young customers can easily and quickly receive low-interest policy financial products through mobile banking," adding, "We hope university students and young customers can focus on job hunting and settle into the formal financial system."

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