NongHyup Bank Launches NH Mobile Jeonse Loan+ with Integrated Review of 4 Guarantee Certificates

Integrated Review of Four Guarantees from Three Guarantee Institutions at Once

[Asia Economy Reporter Park Sun-mi] NH Nonghyup Bank announced on the 18th that it has launched 'NH Mobile Jeonse Loan+' which enhances customer convenience and accessibility by introducing the first integrated guarantee certificate screening process in the financial sector.

The integrated guarantee certificate screening process conducts a combined review of four types of guarantee certificates from three guarantee institutions related to Jeonse loans with a single loan application input. Customers can compare loanable amounts, interest rates, and guarantee fees at a glance to select the optimal conditions.

The loan targets are individuals or sole proprietors aged 19 or older who either have no home ownership for themselves and their spouse or own one house valued at 900 million KRW or less. If the total debt service ratio (DTI) is within 40% and income requirements are met, applicants can apply by photographing lease contract-related documents through the NH Smart Banking application (app).

The loan interest rate offers a maximum preferential rate discount of 0.40 percentage points, including 0.20 percentage points for farmers, 0.30 percentage points for guarantee certificate collateral, and 0.10 percentage points for non-face-to-face new customers, allowing a minimum rate of 2.75%.

Ko Myung-hwan, Head of Digital Marketing Department, said, “We launched a non-face-to-face Jeonse loan product applying an innovative process to actively respond to diverse Jeonse loan demands,” adding, “We will continue to strive to provide customers with more convenient and reasonable benefits through digital innovation.”

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