SBI Savings Bank Lowers Mortgage Loan Interest Rate by 0.6%P... Minimum 4.65%
[Asia Economy Reporter Song Seung-seop] SBI Savings Bank announced on the 6th that it will lower the interest rates on its mortgage loan products by 0.6 percentage points.
With this rate cut, the lowest interest rate for SBI Savings Bank's online and offline mortgage loan products will change from 5.25% to 4.65%. This is the lowest rate in the savings bank industry and is comparable to rates offered by commercial banks and mutual finance institutions.
The loan limit is up to 70% of the market price for individual customers and up to 95% for individual business owners. It is also available 100% non-face-to-face without a separate branch visit.
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A representative from SBI Savings Bank stated, “Due to rising loan interest rates and the prolonged COVID-19 pandemic, not only households but many self-employed individuals are experiencing great difficulties,” and emphasized, “We will continue to faithfully fulfill our role as a financial institution for the underprivileged.”
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