Toss Bank Launches Refinancing Service for Jeonse and Monthly Rent Loans

Toss Bank announced on the 26th that it has launched a refinancing service for jeonse and monthly rent deposit loans. Borrowers with existing jeonse or monthly rent loans can compare interest rates via mobile and refinance their loans. According to Toss Bank, through a preliminary screening, users can check the expected new interest rate, remaining loan balance, and annual interest savings in advance.

The eligible housing types include apartments, multi-family houses, row houses, detached houses, and residential officetels. According to the common requirements for refinancing loan infrastructure, Toss Bank allows refinancing only for products guaranteed by the Korea Housing Finance Corporation (HF).

The loan limit is within the existing loan balance. If the rental deposit increases due to a lease contract renewal, refinancing with an increased amount is also possible. The existing loan must have been originated at least three months ago, and the refinancing must be within 50% of the lease contract period. When renewing the lease contract, applications can be made starting two months before the maturity date.

A distinctive feature of Toss Bank’s jeonse and monthly rent deposit loans is the introduction of “Toss Bank Care,” which includes services such as Jeonse Keeper Guarantee, Registration Change Notification, and special loans for families with multiple children. After obtaining a jeonse or monthly rent loan, customers can easily subscribe to the Jeonse Deposit Return Guarantee. Through free registration change notifications, customers can monitor changes related to their home, such as landlord changes, collateral loan execution, and provisional seizure. Customers with two or more minor children can receive preferential treatment on loan limits and guarantee fees regardless of income or debt levels.

A Toss Bank representative said, “Customers who already have jeonse or monthly rent loans can now easily compare interest rates on the app and use Toss Bank’s jeonse and monthly rent loans with Toss Bank Care included.” He added, “We will continue to strive to introduce essential financial services for our customers.”

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