K Bank Strikes Back at Kakao Bank, Launches Secondary Financial Sector Linked Loans

Partnership with 5 Institutions Including Savings Banks and Capital Companies... Offering Linked Products to Customers Struggling with Credit Loans
No Prepayment Fees, Interest Benefits Based on Customer Credit Scores
Gradual Expansion of Products and Benefits for Low-to-Mid Credit Customers Starting This Year

[Asia Economy Reporter Kiho Sung] K Bank announced on the 4th that it has launched a linked loan service that introduces secondary financial institution loan products to customers who have difficulty executing loans at the bank.

If a customer applies for the 'Credit Loan Plus' product but receives a result that the loan is not possible, they can easily compare better loan conditions through the 'Check Partner Loans' menu.

Currently, the financial companies introducing loan products through the linked loan service are five institutions: Shinhan Savings Bank, DGB Capital, Eugene Savings Bank, JT Chin-ae Savings Bank, and Hana Capital. The number of partners is expected to gradually expand in the future.

Exclusive benefits are also provided for customers who receive partner loans through K Bank. To facilitate smooth loan repayment, early repayment fees are fully waived regardless of the loan period or execution amount. Customers can also receive interest rate benefits of up to 1% depending on their credit score.

Additionally, K Bank continues to monitor the stage until the partner loan is executed to check whether the loan is made in a way unfavorable to the customer compared to the initially presented loan screening result.

Starting with the launch of the linked loan service, K Bank plans to significantly strengthen products and services for low- to mid-credit customers this year. In the first half of this year, it will launch small overdraft accounts and Sa-it-dol loans, and in the second half, it plans to release mid-interest rate loan products using its own credit evaluation model.

A K Bank official said, “This service was introduced to reduce the financial exploration costs of mid-credit customers who find it difficult to use banking services and to provide more diverse options,” adding, “We will gradually expand benefits for low- to mid-credit customers starting this year.”

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