Woori Bank Launches 'Youth Leap Loan' with 5% Annual Interest Rate

Annual Income Under 40 Million KRW and Age 34 or Younger
Up to 5 Million KRW Per Person

Woori Bank announced on the 10th that it has launched the ‘Youth Leap Loan’ to support the living stability funds for young people.

The Youth Leap Loan is available to young people aged 34 or younger with an annual income of 40 million KRW or less (employed for more than 3 months). The fixed interest rate is set at 5.0% per annum to reduce the interest burden on the youth. Loan limits vary according to credit rating, with a maximum loan amount of up to 5 million KRW per person. This is a non-face-to-face exclusive product that can only be applied for through Woori Bank’s application (app) ‘Woori WON Banking,’ and the repayment method is a lump-sum payment at maturity after 1 year. The total support scale is 500 billion KRW.

Woori Bank is conducting an event offering 10,000 Naver Pay points worth 10,000 KRW each to the first 10,000 loan customers on a first-come, first-served basis. Once the loan is executed, customers are automatically entered without any conditions, and prizes will be given to winners through the Woori WON Banking coupon box on September 20. Additionally, among customers who execute loans by the 31st of next month, 100 will be selected by lottery to receive 50,000 KRW in loan interest support funds. Detailed information can be found on the Woori WON Banking event page.

A Woori Bank official stated, “With the launch of the Youth Leap Loan, we expect to provide practical benefits to low-income young people,” adding, “We will continue to play the role of a financial ladder that offers equal opportunities to young people regardless of their assets or income levels and helps them build their own credit history to lead a stable financial life.”

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