K Bank Lowers Interest Rates on Apartment Mortgage Refinancing Loans... Minimum Annual Rate 3.8%

Maximum 0.38 Percentage Point Reduction

K Bank is lowering the variable interest rate on apartment mortgage refinancing loans by up to 0.38 percentage points.

On the 25th, K Bank announced that with this rate cut, it will offer variable rates on apartment mortgage refinancing loans at the lowest level in the banking sector, in the 3% annual range. As of that date, the variable interest rates for apartment mortgage refinancing loans range from 3.80% to 5.76% per year.

K Bank’s apartment mortgage loans apply the lowest interest rates to all customers without strict preferential rate conditions such as grace periods, card usage performance, or salary transfer applications. According to K Bank, due to continuous enhancements in apartment mortgage loan rate benefits, about 47% of apartment mortgage loan subscribers in the first half of this year executed loans at an interest rate in the 3% range. Notably, refinancing loans accounted for about half of the approximately 1.4 trillion KRW in new apartment mortgage loans handled by K Bank in the first half of this year, easing the interest burden of existing home mortgage loans.

A K Bank official stated, “Despite the rise in market interest rates such as COFIX, we have lowered loan interest rates to offer apartment mortgage loan variable rates at the lowest annual rate of 3%.” He added, “Without complicated preferential rate conditions, customers can conveniently receive the lowest banking sector rates through the application (app).”

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