BNK Busan Bank Launches First Non-Face-to-Face SOHO Mid-Interest Loan Product Among Regional Banks

[Asia Economy Reporter Yu Je-hoon] BNK Busan Bank announced on the 9th that it will launch the first non-face-to-face 'SOHO Medium-Interest Loan' product for medium- and low-credit individual business owners among regional banks.

The SOHO Medium-Interest Loan, equipped with a machine learning-based screening model, is designed to allow medium- and low-credit individual business owners to apply for and execute loans through the mobile banking application without visiting a branch.

Applications can be made both face-to-face and non-face-to-face through the Busan Bank mobile banking app's 'ONE Credit Loan' and branches. The loan limit is up to 70 million KRW, and the loan interest rate is as low as 5.89% per annum (as of the 4th).

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