NH Nonghyup Raises Non-Face-to-Face Mortgage Loan Limit from 500 Million KRW to 1 Billion KRW

NH Nonghyup Bank Launches Upgraded NH Mobile Apartment Loan 2.0

Adds Interest Rate Options, Expands Loan Limits and Terms to Broaden Financial Consumers' Choices

[Asia Economy Reporter Sim Nayoung] NH Nonghyup Bank announced on the 5th that it has raised the interest rates, limits, and terms of its non-face-to-face mortgage loan product, 'NH Mobile Apartment Loan 2.0.'

Previously operating only with a variable interest rate (monthly new COFIX 6-month), the bank has added a mixed interest rate option to expand customer choices. The mixed interest rate method applies a fixed interest rate for 5 years, followed by a 6-month variable interest rate.

The loan limit and loan term have also been expanded. The loan limit for home purchases has increased from 500 million KRW to 1 billion KRW, and the loan term has been extended from a maximum of 33 years to 40 years.

The 'NH Mobile Apartment Loan 2.0,' a 100% non-face-to-face mortgage loan product, allows customers to apply for and execute loans using only their mobile phones without visiting the bank, utilizing an apartment owned by the applicant (including joint ownership by spouses).

For more detailed information about product subscription, customers can check through NH Smart Banking, NH All One Bank, or the Customer Happiness Center.

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