Hana Bank, Seoul City Youth Lease Deposit Loan... Interest Rate as Low as 1.0% per Year
[Asia Economy Reporter Kim Min-young] Hana Bank has introduced a youth rental deposit loan with a minimum annual interest rate of 1.0%, following the launch of a rental deposit loan product for newlywed couples in Seoul last month.
On the 26th, Hana Bank announced that it had launched the youth rental deposit loan in collaboration with the Seoul Metropolitan Government and the Korea Housing Finance Corporation to provide financial support for youth housing stability.
The loan support targets non-homeowning youth aged 39 or younger who have received loan recommendations from the city. Eligible properties include housing and residential officetels located in Seoul with rental deposits up to 300 million KRW (monthly rent up to 700,000 KRW).
The loan limit is up to 90% of the rental deposit, with a maximum of 70 million KRW. The loan period can be used for 6 months to 2 years within the lease contract period with a lump-sum repayment at maturity, and the loan can be extended up to 8 years if the lease is renewed.
This product, exclusively handled by Hana Bank, offers interest support from the city of up to 2.0% per annum, enabling loans at a minimum interest rate of 1.0%. For a loan limit of 70 million KRW, this results in an annual interest saving of up to 1.4 million KRW.
Applying for the loan is also convenient. Without visiting a branch, applicants can check the guarantee limit and apply for the loan through the Hana One Q mobile application (app). Before applying for the loan, applicants must apply for a loan recommendation on the Seoul Housing Portal to receive interest support, and after confirming the issuance approval of the city loan recommendation letter, they can apply for the loan via the app or at a branch.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- UAE Barakah Nuclear Power Plant Hit by Drone Attack, Fire Erupts... IAEA: "No Radiation Leak"
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
A Hana Bank representative stated, “This loan offers not only the practical benefit of interest support but also convenience through application via the Hana One Q app. Hana Bank will continue to lead inclusive financial support for youth and newlywed couples who are in urgent need of financial assistance.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
