When Lunar New Year Holiday Falls on Loan Interest or Credit Card Payment Due Date... Automatically Postponed to the 28th

[Asia Economy Reporter Kwon Haeyoung] If the due date for bank loan interest or credit card payments falls during the Lunar New Year holiday, repayment on the next business day, the 28th, will not incur any late fees.

According to the Financial Services Commission and financial authorities on the 25th, if the maturity date or interest payment date for loans used at banks, insurance companies, savings banks, credit card companies, capital companies, mutual finance institutions, or loan companies falls during the holiday period, repayment or payment can be made on the 28th. The payment deadline is automatically extended, so paying loan interest or credit card bills on the 28th will not be considered late.

In addition to credit card payments, insurance premiums and telecommunication service charges due during the holiday period will be withdrawn on the 28th.

Loans maturing during the holiday period can also be repaid on the 28th without any fees. Loan repayment or maturity adjustment is possible on the 28th, and no separate late interest will be charged upon repayment.

Deposits at financial companies maturing during the holiday period will be paid on the 28th, including interest accrued during the Lunar New Year holiday. However, in the case of the Housing Pension, if the payment date falls during the holiday period, the Korea Housing Finance Corporation made an early payment on the 23rd.

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