"Mortgage Loan Interest Rates in the Low 3% Range"…KakaoBank Lowers Rates by up to 0.85%P

Interest Rate Cuts on Mortgage Loans Following Personal and Jeonse Loans
Effective from New Contracts Next Month

[Asia Economy Reporter Minwoo Lee] KakaoBank is lowering the interest rates on its mortgage loan products by up to 0.85 percentage points (P). As a result, the minimum interest rate has dropped from the 4% range to the low 3% range.

KakaoBank announced on the 31st that it has decided to reduce the interest rates on its mortgage loan products by up to 0.85 percentage points (P). The lowest interest rate for the variable rate (6-month variable) product has decreased from an annual 4.05% to 3.20%. The mixed rate product, which has a fixed rate for 5 years and then applies the linked rate at that time every 6 months, has dropped from an annual 4.71% to 4.46%. The revised rates will apply to contracts starting from the 1st of next month.

KakaoBank has recently been lowering interest rates on various loan products one after another. On the 26th, it reduced the interest rates on various credit loans and jeonse deposit loans by 0.31 to 0.93 percentage points.

A KakaoBank official explained, "We lowered the interest rates to ease the interest burden on our customers during the period of rising rates."

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