KakaoBank Launches SGI Jeonwolse Deposit Loan Up to 500 Million KRW

Lowest Loan Interest Rate Annual 3.81%
No Limit on Lease Deposit

KakaoBank announced on the 19th that it will launch the 'SGI Jeonwolse Deposit Loan,' which allows loans of up to 500 million KRW without any limit on the rental deposit price.

The SGI Jeonwolse Deposit Loan is a product that allows loans of up to 500 million KRW within a maximum limit of 80% of the Jeonwolse deposit. The limit has increased compared to the existing Housing Finance Corporation guaranteed products available at KakaoBank (222 million KRW) and the Youth Jeonwolse Deposit Loan (200 million KRW).

There is no longer a rental deposit limit, which was previously restricted to 700 million KRW or less in the metropolitan area and 500 million KRW or less outside the metropolitan area. According to the National Statistical Portal, as of March, the average actual transaction price for apartment Jeonse in Seoul was about 689.2 million KRW, so more customers are expected to be able to use the Jeonwolse deposit loan through this SGI Jeonwolse Deposit Loan.

The loan interest rate starts at an annual rate of 3.81%. There is no penalty for early repayment, and no cost is incurred for the notification of bond transfer (the cost incurred when notifying the landlord that the loan bond has been transferred to the bank). Customers only need to bear the stamp tax, which is a tax imposed when signing the loan contract documents.

A KakaoBank representative said, "We have expanded our product lineup so that a wider range of customers can use Jeonwolse deposit loans in response to changes in the market environment," adding, "Customers who have found it difficult to use KakaoBank's Jeonwolse deposit loans until now will be able to experience competitive interest rates, convenience, and benefits such as reduced financial costs."

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