Suhyup Bank Extends Mortgage Loan Maturity to a Maximum of 50 Years
[Asia Economy Reporter Bu Aeri] Sh Suhyup Bank announced on the 13th that it will extend the longest maturity of mortgage loans from the existing 40 years to 50 years, the first in the banking sector.
Suhyup Bank will increase the longest maturity to 50 years for its mortgage loan products, Sh Eutteum Mortgage Loan and Badasarang Loan, starting from the 18th.
The bank explained that this is intended to ease the principal and interest repayment burden of mortgage borrowers, which has increased due to recent interest rate hikes. Extending the loan period can reduce the annual principal and interest repayment amount.
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A Suhyup Bank official said, “We will continue to be a bank closer to our customers through proactive and diverse financial products and services.”
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