Korea Citibank Launches Long-Term Business Loans Usable for 5 Years Without Extension

For Individual Business Owners and Corporations with Sales Under 10 Billion KRW

The model of Citibank Korea is introducing the long-term business loan product. (Provided by Citibank Korea)

[Asia Economy Reporter Wondara] Citibank Korea has launched a long-term business loan product that can be used for up to 5 years without extension.

On the 23rd, Citibank announced the launch of the 'Citi Long-term Business Loan.' It is targeted at individual business owners and corporations with annual sales of 10 billion KRW or less, allowing loans of up to 1 billion KRW for working capital and facility funds. The loan repayment amount has also been minimized to about 1-2% of the principal annually.

For customers receiving long-term business loans who wish, asset management services will also be provided. Customers who apply for asset management can receive services based on model portfolios tailored to their investment preferences, and experience differentiated asset management services provided by a team consisting of dedicated private bankers (PB) as well as experts in foreign currency, investment, insurance, and other fields.

A Citibank official said, “Until now, business loan products sold by financial companies typically have terms of 1 to 2 years, with a maximum of about 3 years, but the product launched this time allows loans for up to 5 years, eliminating the hassle of annual maturity extensions. In addition to loans, customers can also receive Citibank Korea’s excellent asset management services, so we recommend this product to business owners who want more stable fund management or who have concerns about managing their funds.”

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