Woori Bank Launches Loans for 'Naver Smart Store'... Up to 40 Million KRW Limit

0.8% Point Loan Interest Rate Discount Also Offered

[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 22nd that it has launched the ‘Woori Bank Naver Smart Store Loan’ in collaboration with Naver Financial, a subsidiary of Naver Finance.

The ‘Woori Bank Naver Smart Store Loan’ is an exclusive loan for individual business owners who have been operating for more than six months on ‘Smart Store,’ Naver’s representative online sales channel. Loan application and approval, including checking loan limits and interest rates, can be done through the Naver app, and loan contracting including account opening can be completed in one stop via ‘Woori Won Banking Enterprise.’

The loan limit for the product is up to 40 million KRW, and repayment methods can be chosen from ▲lump-sum repayment at maturity ▲installment repayment ▲account-style repayment (overdraft account).

In particular, when Smart Store sales proceeds are deposited into a Woori Bank account, a basic preferential interest rate of 0.4% points is provided, with an additional 0.3% points for deposits exceeding 1 million KRW per month, and an additional 0.1% points preferential rate when subscribing to ‘Woori Sajangnim e-Pyeonhan Account,’ a non-face-to-face business owner exclusive account. When sales proceeds from Smart Store are deposited into the designated account, various fees such as electronic financial fees and ATM fees are also waived.

Additionally, for customers who wish, a ‘Loan Safety Care’ insurance service is provided free of charge, which offers up to 3 million KRW support in case of business suspension or closure, and repayment of the loan balance in case of injury or death.

A Woori Bank official stated, “We hope this product will bring hope to small business owners who are struggling due to COVID-19.”

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