(Photo = Getty Image Bank)
With the craze for stock investment, as credit loans surged due to debt investments (investing in debt) and spirits (attracting souls), the financial authorities and banks began tightening loans. In addition, there is increasing demand to receive loans in advance as the financial authorities announced a regulation on large credit loans that require payment of the principal in installments in March.
So, which bank can borrow more money at a lower interest rate? We compared credit loan products of major commercial banks.
According to industry sources on the 27th, the door of loans is narrowing as banknotes have been tightening credit loans in all directions, such as reducing the limit on loans and increasing interest rates since the end of last year.
If you check the credit limit and interest rate at each commercial bank, even if you are the same person, the limit and interest rate are different. The reason is that each bank has different standards for determining loan limits and interest rates.
In fact, I used a mobile banking app (application) for major commercial banks in Korea such as KB Kookmin, Shinhan, Hana, and Woori Bank to inquire about the limit and interest rate of credit loans (based on one-year temporary repayment).
Based on the reporter himself, Hana Bank provided the most loan limits. Hana Bank granted reporters a loan limit of 68.9 million won. Conversely, Shinhan Bank provided the smallest limit, which was only 45 million won. The loan limits for Woori Bank and KB Kookmin Bank were 60.2 million won and 46.2 million won, respectively.
The interest rate was the lowest at 2.82% per year at Shinhan Bank. This was followed by △ Woori Bank 3.03% △ KB Kookmin Bank 3.21% △ Hana Bank 3.45%.
For reference, the reporter’s monthly paycheck is Woori Bank, but KB Kookmin Bank uses it like the main bank. Shinhan Bank and Hana Bank only have accounts, but these are the banks that offer the minimum interest rate or the maximum limit.
It was expected that executives and employees of superior companies or banks with the most frequent financial transactions would provide higher limits or lower interest rates, but the results were different. After all, in order to find the best credit loan for me, even if it is cumbersome, it is better to check and select the limits and interest rates for each bank.
There is no disadvantage, such as a decrease in credit score, just by looking up the loan limit and interest rate. However, note that non-face-to-face credit ratings may be limited to prevent voice phishing if a lot of non-face-to-face loan inquiries are made in a short period of time.
[email protected], reporter Eunji Cha
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