Busan Bank Launches 'Warm Win-Win Debt Refinancing New Hope Holssi' on App
High-Interest Rate Debt Refinancing Loan Products
BNK Busan Bank announced on the 31st that it will start selling the high-interest refinancing loan product "Warm Win-Win Refinancing New Hope Seed" on its mobile banking application to expand win-win financial support.
Previously, customers using high-interest loans from secondary financial institutions had to visit a branch to apply for refinancing loan products. However, now, by utilizing the "Loan Transfer System," it is possible to conduct loan screening, execution, and repayment in real-time through mobile banking without visiting a branch.
The Warm Win-Win Refinancing New Hope Seed was launched in May with an annual minimum interest rate of 6% and a fixed interest rate for the entire period to reduce financial costs and improve credit ratings for customers using high-interest loans. It supports installment and partial repayment methods for up to 7 years with a maximum limit of 35 million KRW within the balance of secondary financial institution loans.
Kim Cheol-min, Head of Retail Finance, said, "We hope to provide some support to customers struggling with high-interest loans," and added, "We will continue to discover financial products that are practically helpful to expand win-win financial support."
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Meanwhile, Busan Bank signed a business agreement with the Busan City Council in December last year and is supporting high-interest refinancing loans and emergency living funds with a limit of 50 billion KRW. Anyone residing in Busan or engaged in economic activities within the Busan area can apply.
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