No More Loan Exclusion... DGB Daegu Bank Launches Renewed 'Ddokddok Ddandan Mid-Interest Loan'

From July, Credit Loans No Longer Limited to Annual Income

DGB Daegu Bank is expanding the advanced application of the process for its representative mid-interest rate credit loan product, 'Ddokddok Ddantan Mid-Interest Rate Loan'.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] DGB Daegu Bank announced on the 1st that it has advanced the process of its representative mid-interest rate credit loan product, ‘Ddokddok Ddantan Mid-Interest Rate Loan,’ applying strengthened soundness management and expanded coverage of non-face-to-face channels.

To expand funding for loan-disadvantaged groups such as low-to-mid credit tiers and thin filers, an evaluation system applying alternative information and machine learning techniques was established, based on which loan limits have been increased.

The service is available through DGB Daegu Bank branches and the IMBANK app, with loan limits raised up to 100 million KRW upon meeting internal criteria.

The non-face-to-face channel, previously available only to salaried income earners, has been expanded to include business income earners, enhancing customer convenience.

With the Financial Services Commission’s ‘Strengthened Management of Credit Loan Product Limits’ and the lifting on the 1st of the ‘Credit Loan Limit Regulation within Annual Income Range’ applied since September last year, it is expected that DGB Daegu Bank’s overall household credit loan limit calculation level will increase, positively impacting funding supply to low-to-mid credit groups.

Lee Soong-in, head of IMBANK Headquarters, said, “In response to the financial authorities’ policy aimed at smooth funding supply to mid- and low-credit tiers, we improved the evaluation system and product quality of mid-interest rate credit loans,” adding, “We will continue to pursue ways to expand funding supply to financially marginalized groups such as loan-disadvantaged segments.”

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