“Best by Law and Won't Charge More” … BNK Capital, Industry's First Loan Product with Interest Rate 2% Below Legal Maximum

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] BNK Capital (CEO Lee Doo-ho) has lowered the maximum interest rate on loan products to 18%, which is 2% lower than the legal maximum interest rate (20%), to reduce the interest burden on financially vulnerable groups.

This reduction policy, implemented for the first time in the industry, is part of the "Crisis Overcoming Together (同行) Project" jointly promoted by four affiliates within BNK Financial Group: Busan Bank, Gyeongnam Bank, BNK Capital, and BNK Savings Bank.

It has been applied since the 17th with the purpose of practicing win-win management through financial support.

Additionally, BNK Capital plans to participate in the financial support plans for financially vulnerable groups promoted by financial authorities and the group by preparing measures to reduce financial costs for small business owners and customers using high-interest loans, such as long-term rental cars, livelihood vehicle support, and loan interest rate reductions.

Lee Doo-ho, CEO of BNK Capital, said, “I hope that BNK Financial Group’s Crisis Overcoming Together (同行) Project, which is being carried out for mutual growth, will become a good example of fulfilling corporate social responsibility,” and added, “BNK Capital will continue to discover various win-win programs to stabilize finance for ordinary people.”

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