KakaoBank Launches Loan Product for Medium Credit Customers

[Asia Economy Reporter Kiho Sung] KakaoBank announced on the 4th that it has launched two mid-credit loan products based on its own credit system: the 'Mid-Credit Plus Loan' and the 'Mid-Credit Emergency Loan.'

The 'Mid-Credit Plus Loan' targets salaried workers with a Korea Credit Bureau (KCB) score of 820 or below. The maximum limit is 50 million KRW, and the interest rate is as low as 4.169% per annum (as of August 4). Detailed eligibility criteria include an annual income of 20 million KRW or more, employment duration of at least one year, and meeting mid-credit credit evaluation requirements.

The 'Mid-Credit Emergency Loan' is a minus-type loan product that can be contracted up to 3 million KRW without submitting documents, regardless of workplace or income. The maximum limit is 3 million KRW and is applied differentially based on the screening results. The minimum interest rate as of this date is 4.402% per annum.

Both products can be applied for through the existing loan menus 'Credit Loan' and 'Emergency Loan' in the KakaoBank app. Each product is automatically selected to offer the most suitable interest rate and limit based on the loan applicant's loan requirements and credit status.

Meanwhile, KakaoBank will hold an event from the 10th to the 9th of next month, supporting interest for customers who newly execute the 'Mid-Credit Plus Loan' and 'Mid-Credit Emergency Loan' during this one-month period.

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