NongHyup Bank Gyeongnam Headquarters Develops Comprehensive Support Measures for Heavy Rain Damage Recovery

Up to 2.6% Interest Rate Benefits for Affected Farmers

Extension of Agricultural Policy Fund Repayment and Interest Reduction

NH Nonghyup Bank Gyeongnam Headquarters announced on the 20th that it will implement a comprehensive support plan for the recovery of residents affected by the recent continuous heavy rains.

NH Nonghyup Bank provides financial support for affected farms, residents, and businesses by offering interest rate discounts of up to 2.6% for farmers affected by the heavy rains (up to 2.0% for non-farmer customers). It also supports the deferment of repayment and interest reduction on agricultural policy funds, and has prepared disaster recovery funds with a fixed annual interest rate of 1.5% as support for farmers whose facilities were damaged.

Gyeongnam Nonghyup building. [Image provided by Gyeongnam Nonghyup]

In addition, through the deferment of credit card bill payments, financial support is provided to businesses and residents experiencing liquidity difficulties due to the heavy rain damage, making every effort to restore the heavy rain damage in the province.

NH Nonghyup Life supports residents affected by the heavy rains by allowing premium payment deferrals and waiving reinstatement late fees, while NH Nonghyup Insurance supports quick recovery by allowing premium payment deferrals and deferring interest payments on insurance policy loans.

Jo Geunsu, head of the Gyeongnam Headquarters, said, “We have prepared a comprehensive financial support plan at the Nonghyup group level, including Nonghyup Bank, to support residents and farmers affected by the continuous heavy rains. We will also strive to ensure that recovery through rural volunteer activities proceeds as quickly as possible.”

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