K Bank Lowers Interest Rates by Up to 1 Percentage Point on Loans for Low to Medium Credit Borrowers

Lowering Personal Business Loan Interest Rates by Up to 0.78 Percentage Points

K Bank announced on the 1st that it will lower the interest rate on its mid-to-low credit loans, ‘Credit Loan Plus,’ by up to 1 percentage point annually.

‘Credit Loan Plus’ is a product designed for mid-to-low credit customers with an annual income of over 20 million KRW who have been employed at their current workplace for more than six months. With this rate cut, the interest rate for Credit Loan Plus will be as low as 4.30% per annum as of today. K Bank had also reduced the interest rate on this product by up to 1 percentage point last month.

Along with this, K Bank also lowered the interest rate on its personal business loan product, ‘Sajangnim Credit Loan,’ by up to 0.78 percentage points annually. As a result, the interest rate for Sajangnim Credit Loan is now as low as 4.63% per annum as of today. K Bank had previously cut the rate by up to 0.4 percentage points last month.

A K Bank representative said, “We have further reduced interest rates to ease the interest burden on mid-to-low credit and small business customers,” adding, “We will continue to strive to practice inclusive finance.”

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