KakaoBank Suspends Applications for Mortgage Refinancing Loans Due to High Demand

On the 9th, when the mortgage refinancing infrastructure service began, there was a surge in demand for switching to KakaoBank and K Bank.

KakaoBank suspended application acceptance around 2 p.m. that day, just one day after launching the 'Mortgage Refinancing' service, due to exhaustion of the limit.

A KakaoBank official said, "The number of inquiries that day was more than twice the average daily number of the previous month," adding, "We tried to regulate it because demand surged all at once."

He also stated, "We plan to resume the service at 9 a.m. tomorrow."

A K Bank official also said, "Loan inquiries were more than three times the usual amount," and added, "It seems the monthly limit will be exhausted today or tomorrow."

As of that day, KakaoBank's mortgage refinancing interest rate was a minimum of 3.49% per annum based on a mixed rate, and K Bank's was a minimum of 3.65% per annum.

It was also found that refinancing inquiries surged at major banks compared to usual.

In particular, Shinhan Bank is reported to possibly exhaust its limit within this week.

Shinhan Bank held an event offering up to 200,000 KRW support for the first month's interest amount to the first 500 refinancing customers that day.

Previously, financial authorities set monthly refinancing limits for each financial institution to prevent confusion caused by rapid money moves, and stated that they would increase the limits based on market demand.

A financial authority official said, "Since it is the early stage of the service launch, consumer interest may be high," and added, "The limits will be adjusted flexibly."

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