Hana Bank Launches 'HaeSalLoan Youth' Product for Young People

Up to 12 Million Won Loan
Fixed Annual Interest Rate of 4%
Available for Up to 15 Years
1.9% Fixed Annual Rate
for Basic Livelihood Recipients and Others

Hana Bank announced the launch of the 'Hana OneQ HaeSalLoan Youth' product, designed to address financial blind spots among young people and support their successful entry into society and stable economic activities.

This product is a policy financial loan that Hana Bank has introduced in line with the Financial Services Commission's 'Plan to Expand Customized Financial Support for the Vulnerable, Including Low-Income Groups.' It expands the scope of inclusive finance by extending support for low-income financial services to young people.

Eligible applicants include university (including graduate) students aged 19 to 34, job seekers, new employees at small and medium-sized enterprises with less than one year of experience, and low-income young entrepreneurs who have been in business for less than one year. With a guarantee certificate issued by the Korea Inclusive Finance Agency, borrowers can receive loans of up to 12 million won.

The loan is offered at a fixed annual interest rate of 4.0% for up to 15 years, with an interest-only repayment period of up to 8 years during which only monthly interest payments are required. In particular, young people who are recipients of basic livelihood support, members of the lower-income bracket, or single-parent families, can benefit from an interest subsidy and receive the loan at a fixed annual rate of 1.9%.

Hana Bank has also introduced a non-face-to-face loan application process through the 'Hana OneQ' application (app). Customers wishing to sign up for the product can obtain a guarantee certificate through the Korea Inclusive Finance Agency's integrated platform 'Itda,' and then complete the entire loan application and execution process non-face-to-face via the Hana Bank mobile app 'Hana OneQ,' without the need to visit a branch.

An official from Hana Bank's Policy Finance Department stated, "We launched this product to support the stable economic activities of young people who are unable to fully focus on their studies or job preparation due to economic isolation." The official added, "Hana Bank will continue to take the lead in practicing inclusive finance for the financially vulnerable by offering a variety of products and services to support low-income groups."