KB Kookmin Bank Launches 'KB Newlywed and Multi-Child Jeonse Loan'

Loans up to 200 million KRW available within 90% of rental deposit for newlyweds married less than 7 years or families with two or more children under 19 years old

[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 13th that it has launched the 'KB Newlywed and Large Family Jeonse Loan' to support housing costs for newlyweds and large families through an agreement with the Korea Housing Finance Corporation.

The KB Newlywed and Large Family Jeonse Loan offers an additional preferential interest rate of 0.15%p per year compared to existing jeonse loans, and provides an additional 0.1%p annual reduction in the Korea Housing Finance Corporation guarantee fee, reducing the interest burden for newlyweds and large families. As of the launch date, the loan interest rate is as low as 2.28% per year (based on new balance COFIX-linked 12-month variable rate, 2-year loan period, after applying preferential rates), and applications are available for up to 200 million KRW within 90% of the rental deposit.

Eligible borrowers are newlyweds (married within 7 years or planning to marry within 3 months) or large families with two or more minor children (under 19 years old under civil law) who have signed a housing lease contract with a rental deposit of 500 million KRW or less.

The loan period can be used with a lump-sum repayment method until the lease contract expires, ranging from 1 to 2 years, and if the lease contract is extended, the term can be extended up to a maximum of 10 years.

Since 2018, KB Kookmin Bank has been selling the Seoul Newlywed Rental Deposit Loan through an agreement with the Seoul Metropolitan Government. With the launch of this product, preferential benefits have been expanded nationwide to newlyweds and large families.

A KB Kookmin Bank official said, "With the launch of this new product, we aim to contribute to alleviating social issues such as declining marriage and birth rates by reducing housing cost burdens for newlyweds and large families," adding, "We will continue to take the lead in housing support for financially vulnerable groups."

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