In the Era of High Interest Rates... K-Bank Lowers Mortgage Loan Rates by 0.41%P

Jeonse Loan Interest Rates at 2~4%, Apartment Mortgage Loan Interest Rates at 4~5% Offered

[Asia Economy Reporter Minwoo Lee] K Bank is lowering the interest rates on apartment mortgage loans and jeonse loans by up to 0.41 percentage points (p) annually. Despite the period of rising interest rates, the bank appears to be aggressively pursuing business activities by reducing loan product rates.

On the 21st, K Bank announced that it would lower the interest rates on apartment mortgage loans and jeonse loans (general and youth) starting from that day.

The fixed-rate hybrid interest rate (fixed interest rate) product for apartment mortgage loans will be reduced by 0.35~0.36%p annually for all customers. Accordingly, the fixed interest rate for apartment mortgage loans, which was 4.88~5.37% annually, has been lowered to 4.53~5.03% annually. This product maintains the interest rate at the rate received for up to 5 years after the loan is taken, and thereafter the interest rate changes every 12 months.

The variable interest rate was also lowered. The interest rate for the financial bond-linked rate (6 months) product among variable rates was reduced by 0.3%p annually, adjusting the rate from 3.75~4.54% annually to 3.50~4.29% annually.

The interest rates for jeonse loan products were also lowered by 0.41%p annually for general jeonse and 0.32%p annually for youth jeonse. Accordingly, the interest rate for general jeonse was lowered to 3.03~4.36% annually as of that day, and the youth jeonse rate was lowered to 2.85~3.17% annually.

Despite the recent rapid rise in housing-related loan interest rates, unconditional jeonse loans are offered at rates in the low 2~4% range annually, and apartment mortgage loans are provided at rates in the low 3~5% range annually.

A K Bank official stated, "With the upper limit of fixed interest rates on housing mortgage loans recently exceeding 7% and expected to rise above 8% within the year, we decided to lower the interest rates to reduce the burden on customers caused by increasing housing-related loan interest." He added, "We hope many customers reduce their interest burden through K Bank's products."

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