KB Financial Group Provides Preferential Interest Rates and Maturity Extensions to Support Typhoon 'Khanun' Victims

KB Financial Group announced on the 11th that it will provide financial support for the recovery of areas affected by Typhoon 'Khanun'.

KB Financial has been proactively operating financial support programs such as special loans, maturity extensions, preferential interest rates, and deferrals of insurance premiums and card payment settlements since the end of June to prepare for damage caused by heavy rains during the monsoon season. The same financial support programs will be offered to customers affected by Typhoon 'Khanun'.

KB Kookmin Bank will provide special loans within the range of the damage amount. For personal loans, up to 20 million KRW will be supported as emergency living stabilization funds, and for corporate loans (self-employed, small and medium-sized enterprises, etc.), a special preferential interest rate of up to 1.0 percentage point will be offered. Operating funds up to 500 million KRW and facility funds within the required amount for restoring damaged facilities will be supported.

If existing loans mature within 3 months, maturity extensions are possible without additional principal repayment, applying preferential interest rates of up to 1.5 percentage points for household loans and up to 1.0 percentage point for corporate loans. If principal and interest are paid normally within 3 months from the date of damage, late payment interest will be waived.

KB Insurance will allow long-term insurance customers to defer insurance premium payments without late payment interest. If existing loans mature, maturity extensions are possible without additional principal repayment, and late payment interest will be waived if principal and interest are paid normally within 3 months from the date of damage.

KB Kookmin Card will defer credit card payment settlements for up to 6 months, and long-term card loans (card loans) can have repayment deferred by changing installment repayment periods or grace periods. Additionally, fees on short-term and long-term card loans used after the date of damage will be discounted by 30%.

KB Life Insurance offers up to 6 months of insurance premium payment deferral and insurance contract loan interest repayment deferral, while KB Capital allows principal repayment deferral for commercial vehicle loan customers for up to 6 months.

The financial support programs of KB Kookmin Bank, KB Insurance, KB Kookmin Card, KB Life Insurance, and KB Capital target customers who have suffered disaster damage due to typhoons and heavy rains. Customers can receive financial support by submitting a 'Damage Confirmation Certificate' issued by the relevant local government authorities. The application period for support is within 3 months from the date of damage.

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