KB Kookmin Bank Expands Non-Face-to-Face Interest Rate Reduction Rights for Individual Business Owners
Eligibility for Non-Face-to-Face Interest Rate Reduction Expanded to Guaranteed and Collateralized Loans
Guidance on Credit Improvement Items... Strengthening Consumer Rights
On April 10, KB Kookmin Bank announced that it has expanded the eligibility for non-face-to-face interest rate reduction requests in order to alleviate the financial costs for individual business customers and increase the utilization of interest rate reduction rights.
The "interest rate reduction right" is a system that allows loan customers to request a lower interest rate from a financial institution when their credit status improves. Previously, for individual business customers, the non-face-to-face interest rate reduction service was available only for credit loans. However, with this expansion, the eligibility has been broadened to include guaranteed loans and collateralized loans as well.
As a result, individual business customers can now conveniently apply for interest rate reduction rights and check the results through KB Enterprise Star Banking and internet banking, without the need to visit a branch.
In addition, KB Kookmin Bank has introduced a new "credit improvement items guidance" service to help customers manage their credit status even if their interest rate reduction request is not accepted. The bank provides information in five categories: personal information, transaction information with the bank, loan transaction information, card transaction information, and delinquency information, supporting customers in managing their credit and potentially reducing financial costs.
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A representative from KB Kookmin Bank stated, "We hope that our busy small business customers can use financial services more conveniently and enjoy the benefits of lower interest rates. We will continue to expand inclusive financial services to protect the rights of financial consumers and alleviate their financial burdens."
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