NongHyup Bank Launches Non-Face-to-Face Exclusive 'NH e-Sajangnim Real Estate Secured Loan'

NH NongHyup Bank announced on September 17 that it has launched the 'NH e-Sajangnim Real Estate Secured Loan,' a mobile-based, non-face-to-face collateral loan product for individual business owners.

This product can be applied for through the All One Bank and NH Smart Banking mobile applications. The entire process-from loan application and document submission to online registration and electronic contract signing-can be completed non-face-to-face, without visiting a branch.

The loan is available to individual business owners with at least six months of business history (excluding those in real estate supply, leasing, and restricted lending sectors). Eligible collateral includes the applicant's own apartment, mixed-use apartment, multiplex housing, multi-family housing, and residential officetel. Property values must be verifiable through KB Market Price, Korea Real Estate Board, or Automated Valuation Model (AVM).

The maximum loan amount is 100 million won for new loans and up to 500 million won for refinancing loans from other banks. The loan term is one year for lump-sum repayment and five years for installment repayment. A preferential interest rate benefit of up to 1.40 percentage points is also available.

This product especially enhances competitiveness by supporting collateral in joint names with a spouse, providing subordinated loans on collateral where NongHyup Bank holds senior priority (excluding cases where additional priority is established by other financial institutions), and allowing refinancing of loans from first-tier financial institutions.

Kang Taeyoung, President of NongHyup Bank, said, "We expect that busy business owners will be able to conveniently use secured loans without visiting a branch," adding, "As a digital-leading bank, we will continue to develop convenient financial products to enhance customer convenience."

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