"Use at Early 4% Range"... K-Bank Lowers Real Estate Loan Interest Rates

Lowering Interest Rates on Both Mortgage Loans and Jeonse Loans

[Asia Economy Reporter Minwoo Lee] Internet-only bank K Bank has lowered the minimum interest rates on apartment mortgage loans and jeonse loans to the low 4% range.

K Bank announced on the 21st that it will reduce the interest rates on apartment mortgage loans by up to 0.7 percentage points.

K Bank's apartment mortgage loans include ▲purchase funds ▲refinancing ▲living stabilization funds, with options for variable and fixed interest rate products. For variable rate products, the refinancing loan interest rate will be lowered by 0.7 percentage points to an annual rate of 4.19?5.31% (as of the 21st). Purchase funds and living stabilization funds will be reduced by 0.2 percentage points to an annual rate of 4.27?5.39%.

For fixed rate products, all rates will be lowered by 0.05% to an annual rate of 5.01?5.52%. Among K Bank's apartment mortgage loans, the purchase funds and refinancing loans have a maximum limit of 1 billion KRW, and living stabilization fund loans have a maximum limit of 200 million KRW.

The interest rates on jeonse loans were also lowered by up to 0.3 percentage points. General jeonse loans will be reduced by 0.3 percentage points for all customers, offered at an annual rate of 4.22?5.68%. Youth jeonse loans were lowered by 0.28 percentage points to an annual rate of 4.06?4.54%. As a result, K Bank's jeonse loan interest rates have become the lowest in the industry.

A K Bank official stated, "We adjusted the interest rates on apartment mortgage loans and jeonse loans to ease the interest burden on customers affected by the recent sharp rise in rates," adding, "We will continue to strive to reduce customer burdens and expand benefits with competitive interest rates."

Provided by K Bank

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