KakaoBank Launches New Inclusive Financial Product "Saehuimang Holssi"

The Only Internet Bank Offering This Product

KakaoBank announced that it will launch a new inclusive financial product, "Saehuimang Holssi II (Saehuimang Holssi)," following its previous offerings of Sunshine Loan 15 and Sunshine Loan Bank.

Saehuimang Holssi is a tailor-made product for financially vulnerable consumers who have low income or poor credit and have difficulty obtaining loans from banks. It is an unsecured personal loan based on the bank's own funds. Eligible applicants are wage earners with an annual income of 40 million won or less (regardless of credit score), or those with an annual income of 50 million won or less who fall within the bottom 20% of personal credit scores. The maximum loan amount is 35 million won, and borrowers can choose a loan term of 1, 3, or 5 years.

The annual interest rate ranges from 4.603% to 10.373%, with a minimum rate in the 4% range to help reduce financial burdens. Young customers aged 34 or younger, as well as senior customers aged 65 or older, are eligible for an additional 0.1 percentage point interest rate benefit.

KakaoBank has been offering Sunshine Loan 15 since 2020 and launched Sunshine Loan Bank in April of this year. The bank plans to continue expanding the supply of inclusive financial products to improve access for low-income and vulnerable groups.

A KakaoBank representative stated, "Despite challenging circumstances, we are striving to expand support for financially vulnerable groups, such as those with mid- to low credit scores and limited financial history," adding, "We will do our utmost to practice inclusive finance by leveraging our data-driven credit evaluation model development capabilities and risk management expertise."

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