KakaoBank Resumes New Loans for General Jeonse and Monthly Rent Deposits for Single-Homeowners

"Normalization for Actual Users"

[Asia Economy Reporter Yu Je-hoon] KakaoBank is resuming new general jeonse and monthly rent deposit loans for single-homeowners.

KakaoBank announced on the 22nd that it will resume new general jeonse and monthly rent deposit loans for single-homeowners, which had been suspended last October in line with the household loan total volume management policy agreed upon with all banks. Accordingly, the eligibility for new general jeonse and monthly rent deposit loans has changed from "customers with no homes owned jointly by a couple" to "customers with one or fewer homes owned jointly by a couple."

However, single-homeowners whose combined annual income exceeds 100 million KRW or who own homes valued over 900 million KRW are not eligible for loans. Additionally, loans are not available for those who acquired apartments priced over 300 million KRW in speculative or overheated speculation zones after July 10, 2020.

KakaoBank’s jeonse and monthly rent deposit loans can be applied for from one month before the balance payment date on the lease contract up to 15 days prior. Application hours are from 6 a.m. to 11 p.m.

KakaoBank stated, "Until now, single-homeowners could only apply for jeonse loans at bank counters, causing significant inconvenience to KakaoBank customers," adding, "The resumption of new loans for single-homeowners is a normalization measure for actual demanders."

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