'NH Mobile Jeonse Loan+' Resumes Sales with Increased Preferential Interest Rates After Suspension Due to Total Volume Regulation

[Asia Economy Reporter Song Seung-seop] NH Nonghyup Bank has resumed sales of its mobile jeonse loan product, which had been suspended due to the total household loan volume regulation.

On the 11th, Nonghyup Bank announced that it would resume sales of the 'NH Mobile Jeonse Loan+' product, which enhances customer convenience and accessibility. This product had become unavailable for subscription due to the total volume regulation in August of last year. Even when Nonghyup Bank started selling general jeonse loans in October of the same year, mobile jeonse loans were not resumed.

The product introduces an 'Integrated Guarantee Certificate Review Process.' By entering the jeonse loan application information once, loan information from three guarantee institutions and four types of guarantee certificates can be checked. Borrowers can view loan amount, interest rate, and guarantee fees at a glance and select the optimal conditions.

The loan targets are individuals or sole proprietors aged 19 or older who, along with their spouse, either do not own a home or own one home valued at 900 million KRW or less. If the debt-to-income ratio (DTI) is within 40% and income requirements are met, applications can be made through the NH Smart Banking application (app).

The minimum interest rate for youth jeonse loans is as low as 2.61% per annum (as of the previous day). The preferential interest rate has increased from the existing 0.40 percentage points to a maximum of 0.70 percentage points. Preferential items include card usage (0.10 percentage points), salary transfer (0.10 percentage points), automatic transfer (0.10 percentage points), agricultural worker preference (0.20 percentage points), non-face-to-face new subscription (0.10 percentage points), and guarantee certificate issuance (0.10 percentage points).

Choi Soon-che, Head of Marketing Support Department, stated, “Through digital innovation, we will provide customers with more convenient financial preferential services.”

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