KakaoBank, One Month Since Launching Mortgage Loans... Surpasses 100 Billion KRW in Cumulative Loans

Average Interest Rate for New Accounts 3.69%

[Asia Economy Reporter Yu Je-hoon] KakaoBank announced on the 30th that its mortgage loan product, launched on the 22nd of last month, has surpassed a cumulative contract amount of 100 billion KRW. Over about a month, the cumulative number of mortgage loan inquiries exceeded 70,000, and the average interest rate for new loans was 3.69%.

KakaoBank's mortgage loan is characterized by a chatbot-based conversational interface, allowing the entire process from document submission, loan screening, to execution to be conducted within the chat window on a mobile platform.

When a customer applies for a mortgage loan, a chat window opens between the chatbot and the customer, where credit limit inquiries are made during information input, and document submission, loan screening, and loan execution are all conducted within the chat window. The average time taken to check the loanable limit and interest rate was 3 minutes and 29 seconds.

KakaoBank handles loans not only for new home purchase funds but also for refinancing existing mortgage loans, living stability, and returning jeonse or monthly rent deposits. Among these, the contract ratio for new home purchase funds accounts for 35%. A KakaoBank official stated, "We plan to expand the scope of mortgage loan eligibility early next month to allow more customers to use the service."

Meanwhile, KakaoBank's mortgage loans target apartments located in the metropolitan area priced at 900 million KRW or less based on KB market prices, with a maximum loan amount of 630 million KRW. Early repayment fees will be fully waived until the end of this year.

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