KakaoBank Lifts Loan Restrictions... Removes 100 Million KRW Limit on Mortgage Living Stability Funds

Internet-only bank KakaoBank will ease household loan regulations following major banks.

On the 7th, KakaoBank announced that starting from the 8th, it will remove the 100 million KRW limit applied to 'housing mortgage loans for living stabilization funds other purposes (excluding rental deposit returns and loan repayments)'.

This is interpreted as a step-by-step relaxation of the temporarily restricted measures related to housing mortgage loans.

KakaoBank had limited the housing mortgage loan amount to 100 million KRW for purposes other than living stabilization funds in September last year to manage household loans, but has now removed this limit.

Additionally, in September last year, KakaoBank reduced the maximum loan period for housing mortgage loans from 50 years to 30 years, restricting loans for home purchase purposes by existing homeowners.

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