Commercial Banks Simultaneously Raise Final Payment Loan Limits for "The H Bangbae"
Major commercial banks have simultaneously increased the limits on final payment loans for "The H Bangbae" in Bangbae-dong, Seocho-gu, Seoul, which is scheduled for move-in next month.
According to the financial sector on August 20, Hana Bank has raised the limit for final payment loans allocated to The H Bangbae from the previous 100 billion won to 350 billion won, effective today.
KB Kookmin Bank and Shinhan Bank also expanded their respective final payment loan limits from 100 billion won to 300 billion won and to 150 billion won, respectively, starting today.
KB Kookmin Bank also reduced the additional interest rate on final payment loans by 0.1 percentage point.
The increase in final payment loan limits is a measure taken in response to financial authorities instructing banks to address the phenomenon of “open run” group loans.
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The Financial Services Commission and the Financial Supervisory Service held a working-level meeting with the heads of household lending departments of banks the previous day, and decided to separately manage loans needed for funding real demand such as interim, relocation, and final payment loans in reconstruction and redevelopment areas, apart from each financial company’s overall household loan volume management.
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