Woori Bank Changes Preferential Interest Rates for Credit and Real Estate Loans... Up to 0.6%p Increase

[Asia Economy Reporter Kim Heung-soon] Woori Bank announced on the 23rd that it will raise preferential interest rates on some credit loan and real estate loan products, which had been reduced, starting from the 3rd of next month to curb the increase in household loans.

Accordingly, the preferential interest rates for 10 credit loan products will be changed. The preferential rates applied to 'Main Workplace Employee Loan,' 'WON Workplace Employee Loan,' and 'Veteran Soldier Preferential Loan' will increase by 0.6 percentage points (p), allowing a maximum rate of 0.9%.

The preferential rates for 'Financial Club,' 'Home Master Loan,' and 'Senior Plus Pension Loan' will rise from 0.1% to 0.7%, and 'Special Loan' will increase from 0.4% to 1.0%, each rising by 0.6%p. Additionally, the preferential rates for 'Dream Car Loan' and 'Fund Power Loan' will also increase by 0.4%p each, applying maximum rates of 0.9% and 0.5%, respectively. In the case of the 'First Salary Credit Loan,' the preferential rate will increase by 0.1%p, allowing a maximum of 0.3%.

For apartment loans and real estate loans secured by housing or residential officetels, the preferential interest rates will be raised by 0.5%p by adding a discount rate item. The preferential rates for Woori Jeonse Loan, secured by guarantees from the Korea Housing Finance Corporation and the Korea Housing & Urban Guarantee Corporation, will also increase up to 0.7% in the same manner.

If five conditions are met?salary or pension transfer, automatic payment of utility bills and management fees, credit card usage, installment savings or subscription savings deposits, and new subscription to subscription savings?each will receive a 0.1%p discount.

The maximum discount rate limit for Woori Apartment Loan will change from 0.3% to 0.8%, for Woori Real Estate Loan from 0.3% to 0.6% for housing other than apartments, and for residential officetels from no preferential rate to 0.3%. For the non-face-to-face loan product Woori WON Housing Loan, a discount rate item will be added to adjust the preferential rate by 0.5%p.

Transferring salary or pension will reduce the interest rate by 0.2 percentage points, and meeting conditions such as credit card usage, installment savings or subscription savings deposits, and full non-grace period mortgage loans will reduce the rate by 0.1 percentage points each. The maximum discount rate limit is 0.4%p.

Woori Bank explained, "This is a partial restoration of preferential interest rates that had been reduced as part of managing the total volume of household loans." Expanding preferential interest rates effectively lowers the loan interest rates.

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