Woori Bank Reduces Preferential Interest Rate Categories for Jeonse Loans

The preferential interest rate limit remains at 0.2%

[Asia Economy Reporter Kim Jin-ho] Woori Bank will reduce the preferential interest rate items for jeonse loans starting from the 7th. However, the limit on the preferential interest rate will remain at the existing 0.2 percentage points.

According to the financial sector on the 4th, Woori Bank has decided to eliminate some of the preferential interest rate items for the 'Woori Jeonse Loan (secured by Housing Finance Corporation and Korea Housing & Urban Guarantee Corporation guarantees)' product.

By item, the preferential interest rate of 0.1 percentage points previously provided for ▲automatic payment of utility bills and management fees ▲new subscription to the comprehensive subscription savings ▲Wonderland interest rate discount coupon ▲extension of the period, etc., will be removed. Also, the preferential interest rate provided when transferring salary or pension will be reduced from the current 0.2 percentage points to 0.1 percentage points.

However, ▲credit card usage ▲installment savings and comprehensive subscription savings payments will continue to receive the current preferential interest rate of 0.1 percentage points. The current preferential interest rate of 0.2 percentage points will also apply when signing through the Ministry of Land, Infrastructure and Transport's electronic contract system.

The maximum cap on preferential interest rates remains at 0.2% per annum. Woori Bank had lowered the maximum cap on preferential interest rates from 0.4% to 0.2% per annum starting March 25.

This product condition change will apply from the 7th for new applications, extensions, renewals, and condition changes (including debt assumption) approval requests.

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