Woori Card Launches 'Uka Minus Loan'... Lowest Interest Rate at 4.0% Per Year

For Preferred Customers... Maximum Limit of 100 Million KRW, Minimum Interest Rate of 4.0% per Year
Calculated Based on One Loan Transaction... Minimal Impact on Credit Rating

[Asia Economy Reporter Ki Ha-young] Woori Card announced on the 14th that it will launch the 'Woori Card Minus Loan,' which allows credit card holders with excellent credit ratings to freely use the loan within an agreed limit.

The Woori Card Minus Loan can be easily used anytime the customer wants after the limit agreement, and unlike individual loans, interest is charged only on the amount and period actually used by the customer.

The usage limit is up to 100 million KRW, and the interest rate is determined within the range of 4.0% to 10.0% per annum based on the customer's credit rating. Considering that the average interest rate for long-term card loans (card loans) in the existing market is 13% to 14% per annum, this is one of the lowest rates in the industry.

A Woori Card official said, "Existing long-term card loans (card loans) required customers to apply for each use, which was inconvenient," adding, "The Woori Card Minus Loan allows customers to freely use the loan within the agreed period and limit at a fixed interest rate, which will significantly alleviate customer inconvenience."

The product is targeted at Woori Card customers with excellent credit ratings, and the agreement period is one year. It can be extended annually depending on the credit rating, and applications can be made through the Woori Card smart app or Woori Card customer center.

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