KB Kookmin Bank Lowers Interest Rate on Second Support Loan for Small Business Owners to 2.8% Per Annum

Fixed Interest Rate of 2.8% Applied Up to KRW 100 Billion Limit Until the End of 2020

[Asia Economy Reporter Park Sunmi] KB Kookmin Bank announced that it will lower the interest rates on new loans for the second round of financial support loans (trust guarantee) for small business owners starting from the 27th.

The support targets small business owners who have been struggling due to the recent spread of COVID-19. It will be implemented with a loan amount limit of 100 billion KRW until the end of 2020. The loan interest rate is a fixed rate of 2.8% per annum, applied for 5 years, and the loan limit per case is 10 million KRW.

The loans under this interest rate reduction condition will be processed through non-face-to-face applications via corporate internet banking and KB Star Banking to prevent the spread of COVID-19 through 'social distancing' and to provide customer convenience. However, elderly customers or joint business owners can also apply through KB Kookmin Bank branches.

A KB Kookmin Bank official said, "Through this interest rate reduction, we hope to provide even a little help to small business owners struggling due to the resurgence of COVID-19," and added, "We hope that the affected businesses will return to normal as soon as possible."

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