KakaoBank Launches 'Business Owner Loan Refinancing' Service with Up to 300 Million Won Limit

Up to 0.6 Percentage Point Preferential Rate When Refinancing with KakaoBank

On March 18, KakaoBank launched the "Business Owner Loan Refinancing" service to help small business owners and self-employed individuals reduce their financial burdens.

The "Business Owner Loan Refinancing" service enables customers with personal business credit loans from other banks to refinance their loans under more favorable conditions.

Initially, this service applies to operating capital credit loans for personal business owners. The maximum loan limit is 300 million won, and annual interest rates start from the low 3% range.

KakaoBank offers up to a 0.6 percentage point preferential rate when customers refinance with its own products. Customers who have completed a small business consulting program and use the KakaoBank Business Hyundai Card are eligible for an additional 0.4 percentage point preferential rate.

The entire process, including loan application, document submission, and execution, is handled through the KakaoBank application, so there is no need to enter business information or submit documents separately.

A cashback event is also available. Customers who currently have a personal business credit loan from another bank and refinance with KakaoBank can receive 2,000 won simply by checking their new loan limit, and if they execute a loan exceeding 50 million won, they will receive a 50,000 won cashback. This event runs through June 30.

The Business Owner Loan Refinancing service also allows customers to refinance not only with KakaoBank but also with other partner banks. Currently, products from banks such as K-Bank are available, and starting this month, additional Tier-1 commercial banks will join. KakaoBank plans to continuously expand its partners, providing customers with a broader range of choices as a financial platform.

KakaoBank stated, "Until now, personal business loans offered limited options depending on the bank, and it was difficult to refinance, forcing customers to bear the burden of rising interest rates. Through this new service, we aim to become an essential app for personal business owners and evolve into a platform that delivers more convenient loan services."

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