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[이데일리 장순원 기자] After the Lunar New Year holidays, it is expected that it will be more difficult to receive credit from banknotes. As regulations are tightening, banks’ loan thresholds are rising, and interest rate burdens have also increased.
According to the financial sector on the 14th, the financial authorities proposed a goal of reducing the household credit growth rate to 4-5% per year within the next two to three years. This is to ensure that the growing household debt problem does not become an economic burden. Considering that last year’s household debt growth rate was 8.0%, it is planning to cut the increase by half within two to three years.
Since the second half of last year, strict loan regulations have already been applied. The total amount regulation that manages monthly credit loans at around 2 trillion won has been revived. In particular, banks’ lending growth has been largely due to a demand from the financial authorities to lower the target.
It is not easy to use negative bankbooks that office workers usually visit. Shinhan Bank and Woori Bank reduced the limit for negative bankbooks for office workers to 50 million won, and Kakao Bank and K-Bank also reduced the limit for negative bankbooks or increased interest rates. Suhyup Bank even stopped opening a new negative passbook.
Interest rates are also rising. According to the Bank of Korea, the general credit loan rate in December last year was 3.5%, up 0.49 percentage points from the previous month. Credit loan interest rates have risen in earnest since the second half of last year. Fundamentally, the interest rate on financial bonds, which is followed by the loan interest rate, may rise, but there is also the effect of raising the interest rate on credit loans when the government demanded the bank to manage loans.
The level of regulation is expected to increase. The banking sector is keen on the’advanced household debt management plan’ to be announced next month. The key is to convert the subject of the total debt principal repayment ratio (DSR) from existing financial institutions to borrowers. There is also a plan to make it mandatory to pay in installments for customer credit loans over a certain amount.
An official from the Financial Services Commission explained, “We plan to devise a system so that the practice of handling loans within the scope of the borrower’s repayment capacity can be established in financial companies.”
However, in the financial sector, there are already voices of concern over the side effects that the common people and low-income class suffer more from. It is a so-called balloon effect. An official from the financial sector pointed out that “If the loan regulation is strengthened, there is a high possibility that the general public or low-income people will be limited by the limit.”