K Bank, "100% Non-Face-to-Face on App"... Launches Mobile-Only Saetdol Loan

[Asia Economy Reporter Kiho Sung] K Bank announced on the 2nd that it has launched a mobile-only Saetdol Loan that can be applied for 100% non-face-to-face through the app without submitting separate documents.

K Bank's Saetdol Loan is available not only to wage earners who have been employed for more than 3 months and have an annual income of over 15 million KRW, but also to self-employed individuals who have been running a business for more than 6 months and have an annual income of over 10 million KRW based on the income certificate.

The loan limit is 20 million KRW, and the minimum interest rate is 4.63% per annum (as of the 2nd). Loan repayment is based on equal principal and interest installments, and the period can be extended up to 5 years. Since July, K Bank has eliminated early repayment fees on all unsecured loans, so there are no fees regardless of when the loan is repaid.

The Saetdol Loan is a mid-interest loan product provided to low- to mid-credit borrowers with a guarantee from Seoul Guarantee Insurance in accordance with government policy. K Bank stated that it will strengthen mid-interest loan products for low- to mid-credit borrowers along with the launch of the Saetdol Loan. The popular mid-interest loan product for low- to mid-credit borrowers, "Credit Loan Plus," has significantly increased its limit from 50 million KRW to 150 million KRW and expanded the approval range, thereby broadening the scope of mid-interest loans. Credit Loan Plus is popular among low- to mid-credit wage earners and self-employed customers, including office workers and non-salaried individuals, as it allows loans for both groups.

A K Bank official said, "We have fully leveraged the advantages of K Bank, an internet-only bank, to launch the Saetdol Loan, which can be applied for 100% non-face-to-face via mobile," adding, "We will continue to strengthen mid-interest loan products for low- to mid-credit borrowers, including the Saetdol Loan."

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