K Bank Launches 100% Non-Face-to-Face Jeonse Loan... Lowest Annual Rate 1.98%

Office Workers, Business Owners, and Youth (Aged 19-34) All Eligible to Apply

[Asia Economy Reporter Park Sunmi] K Bank has emphasized diversifying its portfolio of 100% non-face-to-face household loan products by launching jeonse loans following unsecured loans and apartment mortgage loans.

On the 26th, K Bank announced that starting from the 31st of this month, it will launch jeonse loan and youth jeonse loan products that can be used 100% non-face-to-face. By entering only basic information such as the jeonse contract details, users can conveniently check loan eligibility, expected interest rates, and limits in a one-stop manner.

By entering information about the house (house type, deposit, balance payment date, etc.) and annual income, users can immediately check the expected interest rate and loan limit. Additionally, applicants can conveniently compare the expected loan conditions for each desired house even before signing the jeonse contract. Youth under the age of 34 can compare both the jeonse loan and youth jeonse loan products on one screen, making it easy to select favorable conditions.

K Bank’s jeonse loan product has also significantly simplified the document submission process. Applicants only need to take photos of two documents?the lease contract (with a confirmed date) and the deposit receipt (payment of at least 5% of the deposit)?and submit them via the app. Other documents, such as resident registration certificates, family relationship certificates, and up to eight documents including employment or business verification, do not need to be submitted separately as they are linked through a single certified login with institutions like the National Health Insurance Service.

The maximum limit for K Bank’s jeonse loan is 222 million KRW, and the youth jeonse loan is up to 100 million KRW. The loan interest rate starts at an annual rate of 1.98%. A K Bank official stated, "Starting last year with apartment mortgage loans that can be conveniently switched 100% non-face-to-face, we are accelerating the diversification of our loan portfolio by introducing saitsdol loans this year and now jeonse loans. Along with existing loan products, we will actively supply loans to real demand customers such as those with low to medium credit and younger generations."

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