Shinhan Bank Exhausts September Household Loan Broker Quota in Just Two Days
New Household Loan Limits via Brokers Managed Monthly
Applications to Resume on the First of Next Month
Shinhan Bank suspended the acceptance of household loan applications through loan brokers just two days after resuming the service.
According to the financial sector on September 3, Shinhan Bank closed its loan broker application process at around 5 p.m. the previous day, after having resumed it on September 1. This was because the entire quota allocated for the month had been used up.
Shinhan Bank manages its new loan limits through loan brokers on a monthly basis. Once the limit is reached, applications are suspended until the end of the month as a means of regulation.
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The acceptance of loan broker applications will resume on the first day of the following month. However, new loans can still be taken out by visiting a branch in person. A Shinhan Bank representative explained, "Unless there are exceptional circumstances, loan broker applications are expected to reopen at the beginning of next month."
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