Shinhan Bank Raises Credit Line Limit to 100 Million Won for Revolving Credit... Credit Loans Up to 200 Million Won

All Four Major Commercial Banks Show Signs of Restoring Credit Line and Credit Loan Limits

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank has decided to expand the limits on overdraft accounts and general unsecured loans.

According to the financial sector on the 29th, Shinhan Bank will increase the overdraft account limit from the current maximum of 50 million KRW to up to 100 million KRW starting from the 30th. The unsecured loan limit will also be restored to up to 200 million KRW within the annual income.

As a result, the overdraft account limits of the four major commercial banks (KB Kookmin, Shinhan, Woori, Hana) have all been raised. Hana Bank increased its limit to up to 150 million KRW in January. KB Kookmin Bank expanded its limit to 100 million to 150 million KRW starting from the 7th. Woori Bank also plans to increase its limits to between 80 million and 300 million KRW depending on the product type starting from the 4th of next month.

The reason banks are restoring overdraft and unsecured loan limits like this is that household loans have been declining since the end of last year. According to the financial sector, as of the 24th, household loans from the five major commercial banks (KB Kookmin, Shinhan, Woori, Hana, NH Nonghyup) decreased by 775.5 billion KRW compared to the end of the previous month, marking a decline for three consecutive months.

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