KakaoBank "First Month Interest Free for Loans to Low-to-Medium Credit Borrowers"

Refund to Account with Interest for the First Month
Benefits Provided for Three Months

[Asia Economy Reporter Minwoo Lee] KakaoBank is offering a benefit that reduces the first month's interest for loans to low- to mid-credit customers for one month.

KakaoBank announced on the 2nd that it will run this "First Month Loan Interest Support Event" until the 31st of this month.

Accordingly, low- to mid-credit customers (with a KCB credit score of 820 or below) who newly take out 'Mid-Credit Loan', 'Mid-Credit Plus Loan', or 'Mid-Credit Emergency Loan' from the 2nd to the 31st of this month will have their first month's interest reduced. Customers do not need to apply separately for the benefit; KakaoBank will pay the first month's interest directly to the customer's KakaoBank account under their own name.

KakaoBank's 'Mid-Credit Loan' and 'Mid-Credit Plus Loan' are loan products targeted at salaried workers with a credit score of 820 or below (based on KCB), with maximum limits of 100 million KRW and 50 million KRW respectively. The 'Mid-Credit Emergency Loan' is a minus account type loan product that can be contracted up to 3 million KRW without submitting documents, regardless of employment or income. The maximum limit is 3 million KRW and is applied differentially based on the screening results.

Previously, KakaoBank also conducted a similar first month interest support event for low- to mid-credit customers from June to December last year. The interest amount supported at that time was approximately 8 billion KRW.

Meanwhile, the scale of unsecured credit loans supplied by KakaoBank to low- to mid-credit customers last year was 1.7166 trillion KRW, about 3.7 times increase compared to 467.9 billion KRW the previous year.

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