Shinhan Bank to Raise Mortgage Loan Interest Rates by 0.1~0.3%P Next Month

Published 22 Mar.2024 09:35(KST)

Shinhan Bank will raise interest rates on housing-related loans starting next month.

According to Shinhan Bank on the 22nd, mortgage loan interest rates will increase by 0.1 to 0.3 percentage points from April 1st. A Shinhan Bank official stated, "This is to control the pace of household debt and ensure stable management."

Interest rates for new purchase funds under mortgage loans will rise by 0.15 percentage points, and rates for living stabilization funds will increase by 0.1 percentage points.

For mortgage refinancing, interest rates based on 5-year and 6-month financial bonds will increase by 0.04 percentage points and 0.3 percentage points respectively, and the COFIX (Cost of Funds Index) 6-month variable rate based on the new balance will also rise by 0.2 percentage points.

Jeonse loan interest rates are also expected to increase by 0.1 to 0.15 percentage points.