BNK Busan Bank Reduces Loan Interest Rates by 0.5%p for Low-Credit Borrowers

BNK Busan Bank will implement interest rate reductions for low-credit customers among existing loan users.

This interest rate reduction is part of the 'Warm Financial Support' program launched in March.

The support targets customers who, as of the end of March, have been using Jeonse loans or credit loans at Busan Bank and fall within the bottom 10% of credit scores (NICE 724 points or below, or KCB 670 points or below).

If eligible, customers will receive a 0.5%p reduction on their current loan interest rate without a separate application. The reduced interest rate will be applied from the next interest payment date after the implementation date until the current loan maturity, and eligible customers will be notified of the interest rate reduction support via SMS (message).

Busan Bank Headquarters.

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However, some loans such as those currently overdue, loans within one month of maturity, and low-interest loans below 2% are excluded from this reduction.

Lee Soo-chan, Head of Credit Sales Division at Busan Bank, said, “We expect this warm financial support interest rate reduction to alleviate the actual interest burden on local neighbors struggling with high interest rates. We will continue to seek ways to accompany the local community and fulfill the role of a regional bank.”

In March, Busan Bank implemented the Warm Financial Support program, lowering new loan interest rates by up to 1.0%p for ‘Saeheung Holssi’ loans, up to 0.80%p for mortgage loans, up to 0.85%p for Jeonse deposit loans, and up to 0.60%p for credit loans.

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