Lotte Card Allows Gyeongnam Heavy Rain Victims to Defer Payments for Up to Six Months

Up to 30% Interest Reduction on Card Loans and Cash Advances

Lotte Card announced on the 18th that it will provide special financial support for customers affected by heavy rainfall in Gyeongnam Province.

On the afternoon of the 17th, the roads and major intersections in Okpo-dong area, Geoje-si, Gyeongnam are completely covered with muddy water. Yonhap News

Lotte Card will allow affected customers who submit a damage confirmation certificate issued by the local government in the affected area by September 30 to defer credit card payments for up to six months.

In addition, if affected customers are currently overdue, collection activities will be suspended for six months from the date the damage is confirmed, and support will be provided for installment repayments as well as a reduction in late fees.

From today until the end of next month, interest rates will be reduced by up to 30% for customers who use long-term card loans (card loans), short-term card loans (cash advances), and similar services.

During the same period, customers who apply for installment-based long-term card loans (card loans) will be supported in converting to a three-month grace period product. Only interest payments are required during the grace period.

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