Busan Bank Provides 'Warm Financial Support' to Vulnerable Groups... 1.7 Trillion Won Scale

Reduction of New Loan Interest Rates for Houses, Jeonse, and Credit Loans on Sale

BNK Busan Bank announced on the 8th that it will provide a total of KRW 1.6929 trillion in 'Warm Financial Support' to promote mutual growth with vulnerable groups and small business owners in the region.

First, Busan Bank will lower the interest rates on all new loans for housing, jeonse (long-term deposit lease), and credit loans currently on sale within this month. The interest rate on the low-income financial product 'Saehimang Holssi' loan will be reduced by up to 1.0 percentage point, and the rates for ▲mortgage loans by up to 0.80 percentage points ▲jeonse deposit loans by up to 0.85 percentage points ▲credit loans by up to 0.60 percentage points will also be lowered.

Starting next month, interest rate reductions will also be applied to existing loan borrowers. Busan Bank plans to uniformly reduce the interest rates on jeonse deposit loans and credit loans held by low-credit borrowers in the bottom 10% of credit scores by up to 0.50 percentage points.

Additionally, Busan Bank plans to launch the 'BNK Warm Win-Win Debt Refinancing Loan' product to support vulnerable groups currently using high-interest loans from secondary financial institutions.

Support will continue to help small business owners affected by COVID-19 in the region to achieve a soft landing and resolve liquidity difficulties. When extending the term of the 'COVID-19 Affected Micro Small Business Agreement Loan,' which is ending its interest subsidy, the interest rate will be changed from the existing variable rate (6.30%) to a fixed rate (4.90%) to reduce the actual interest burden. Furthermore, through a special contribution of KRW 7 billion from the Busan Credit Guarantee Foundation, guarantee-backed loans for small business owners totaling KRW 257.7 billion will be expanded this year.

Busan Bank President An Gam-chan stated, “In the difficult economic environment of high interest rates and high inflation, we have implemented warm financial support to provide practical help to small business owners and vulnerable groups in the region.” He added, “We will continue to explore and support various methods for mutual growth with our customers and fulfill our role as a regional bank.”

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