KB Kookmin Bank Partially Lifts Household Loan Restrictions
KB Kookmin Bank is partially lifting restrictions on household loans that were tightened under the authorities' household debt management policy. The bank will increase the loan limit for living stabilization funds and ease restrictions on refinancing loans from other banks.
On the 13th, Kookmin Bank announced that it will raise the loan limit for living stabilization funds within mortgage loans from a maximum of 100 million KRW to 200 million KRW. Previously, to manage household loans, the bank had limited the loan amount for living stabilization funds to a maximum of 100 million KRW starting from August 29.
The bank will also allow switching mortgage loans from other banks to Kookmin Bank’s mortgage loans. Since the end of July, Kookmin Bank has restricted new mortgage loans for refinancing purposes from other banks.
This measure is scheduled to take effect from the 15th.
Kookmin Bank’s decision to partially ease household loan restrictions is interpreted as a result of the recent household debt growth remaining within the target range, indicating the effectiveness of household loan management.
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To manage household debt, Kookmin Bank has implemented various management measures multiple times, including restricting mortgage loans for multi-homeowners since July.
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