BNK Busan Bank and K Bank Launch Innovative Financial Service "Joint Loan"
Published 26 Nov.2025 10:17(KST)
On November 26, both banks jointly determine rates and limits... Lower interest rate automatically applied
One-stop, fully online service from application to disbursement via K Bank app
Busan Bank and K Bank are igniting financial innovation with an unprecedented joint loan offering.
On November 26, BNK Busan Bank (President Bang Seongbin) announced the official launch of its "Joint Loan Service," operated in partnership with K Bank, Korea's first internet-only bank.
This service was designated as an "Innovative Financial Service" by the Financial Services Commission in July 2025.
The newly launched joint loan allows both banks to conduct their own credit assessments, jointly determine the loan limit and interest rate, and share the loan amount equally on a 50:50 basis upon approval.
From application and agreement to disbursement and repayment, all procedures for the joint loan can be handled through the K Bank mobile app. Customers do not need to submit documents or visit a bank branch in person, as even post-approval processes such as notification of screening results and certificate issuance are provided entirely online.
The interest rate is set at the lower of the two rates calculated by each bank's credit evaluation model, with a minimum annual rate of 4.31% (as of November 26, 2025, variable rate). The maximum loan amount is 220 million won.
Eligible applicants are salaried employees who have worked at their current job for at least six months, have an annual income of at least 20 million won, and meet a certain credit score threshold. Various repayment options are available, including lump-sum repayment at maturity and equal principal and interest repayment, and there is no prepayment penalty.
Busan Bank expects that this joint loan will help overcome the limitations of being a regional financial institution by providing a nationwide channel for acquiring new customers, thereby strengthening its digital competitiveness.
Bang Seongbin, President of Busan Bank, stated, "By combining Busan Bank's extensive credit assessment capabilities with K Bank's digital expertise, we can now offer loans to financial consumers under more favorable conditions. This joint loan is the first step in a range of collaborative projects with K Bank, and we plan to expand into various areas, including productive finance for individual business owners in the future."
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