Shinhan Bank Partners with Seoul City to Launch 'Newlywed Couple Lease Deposit Loan' with Interest Support

[Asia Economy Reporter Haeyoung Kwon] Shinhan Bank launched a new jeonse loan product supporting interest for newlywed couples residing in Seoul, called 'Shinhan Seoul Special City Newlywed Couple Lease Deposit Loan,' on the 28th.

This loan product was launched in collaboration with Seoul City and the Korea Housing Finance Corporation. Seoul City provides differential interest support based on the combined income of the borrowing couple and the number of children. The Korea Housing Finance Corporation issues guarantees for the jeonse loan.

The loan targets newlywed couples without home ownership who meet all the following conditions: obtaining a loan recommendation letter from Seoul City, combined couple income of 97 million KRW or less, residing in Seoul or registering residence in Seoul within one month after loan execution, and marriage registered within 7 years or planned marriage within 6 months. Eligible properties include lease deposits of 500 million KRW or less for housing and residential officetels located in Seoul. The loan period ranges from 12 to 24 months, and can be extended up to 10 years if conditions such as income level and number of children are met.

Loan applications can be made at Shinhan Bank branches. As of the 28th, the loan interest rate is 3.07% per annum, of which borrowers only need to pay interest ranging from a minimum of 1% to a maximum of 2.17% per annum.

A Shinhan Bank representative stated, "We launched this customized product together with Seoul City to enhance housing stability for newlywed couples and provide practical benefits by supporting interest. As a corporate citizen, we will continue to practice warm finance that shares social responsibility."

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