"Pinda Introduces Industry-First 'Refinancing Guarantee Program' for Switching to Favorable Loans"

[Asia Economy Reporter Bu Aeri] FinDa, a fintech company specializing in loans, announced on the 30th that it will launch a pilot service for the industry's first 'Refinancing Guarantee System,' which guarantees switching to loans with lower interest rates.

The Refinancing Guarantee System is a service that allows users to manage all their loans in an integrated manner and guarantees successful refinancing through a refinancing loan diagnosis notification service.

Users can link their MyData and check their loan limits through the Refinancing Guarantee System event page on the FinDa application (app). If a registered customer does not receive a loan with a lower interest rate within this year, FinDa will pay them 50,000 KRW.

According to FinDa, from August last year to April this year, among customers who accessed the app through FinDa's 'Refinancing Loan Diagnosis Notification' service, 57.6% lowered their interest rates by an average of 3.8 percentage points and increased their loan amount by 12.96 million KRW by refinancing. This saved customers about 500,000 KRW per person annually on average.

FinDa plans to launch the Refinancing Guarantee System as a regular service in the future. The target customers are those with a credit score of 600 or higher who hold at least one unsecured loan with an interest rate of 10% or more. Customers holding loans from online investment-linked finance businesses (formerly P2P sector) and private lending businesses are excluded. Applications can be made through the FinDa app during the pilot operation period, and applications will be accepted until July 8.

Park Hongmin, co-CEO of FinDa, said, "We will enhance FinDa's services so that many people can find better loans and reduce unnecessary daily expenses."

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