K Bank Adam Loan, 2,000 Applications Completed in 30 Minutes

[Asia Economy Reporter Kim Hyo-jin] K-Bank announced on the 12th at 2 PM that the application for the non-face-to-face apartment mortgage loan (Adamdae), limited to 2,000 people on a first-come, first-served basis, was completed in about 30 minutes.

K-Bank sold Adamdae through a lottery method three times since the end of August. K-Bank divided the applicants into 1,000 existing customers and 1,000 new customers who joined after the 28th of last month, and accepted additional applications on this day.

K-Bank's Adamdae is known to have recently surpassed a cumulative handling amount of 100 billion KRW. Considering that loan applications were accepted from lottery-selected customers starting August 27, this is an achievement made in about two and a half months.

From the end of August to October, K-Bank achieved about 20% of the 510 billion KRW increase in loan balance through mortgage loans.

K-Bank's Adamdae features the use of income information scraping technology, allowing easy inquiry of estimated limits and interest rates without issuing separate documents.

The documents required for loan execution have also been drastically reduced to two: income verification documents (two years of withholding tax receipts or confirmation of withholding tax on earned income) and the certificate of registered rights (registration certificate).

Documents can be authenticated simply by taking photos and entering the registration number without visiting a branch or sending a fax. The consent procedures for spouses and household members can also be completed entirely via mobile.

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