You cannot join the same bank fund or banker within one month before and after the loan (total)

If you do not like the interest rate after the loan, you can cancel it within 2 weeks without interim repayment fee.

Loan regulations changed after the enforcement of the gold law

(Seoul = Yonhap News) Reporter Shin Sang-gyeong Kim Yeon-jeong = In the future, banks that received household loans cannot sign up for funds or other products such as bancassurance for one month before and after the time of the loan.

In addition, even after receiving a mortgage or credit loan, a financial consumer can cancel the loan agreement itself within 14 days without interim repayment fees if it determines that interest rates are unfavorable compared to other banks.

◇ If you have a loan plan within one month, you need to be cautious about signing up for a fund, etc.

According to the financial sector on the 28th, commercial banks issued different loan guidelines, including these details, to the front line along with the enforcement of the Financial Consumer Protection Act (hereinafter referred to as the Financial Consumption Act) on the 25th.

Among these guidelines, the most notable is the change in the inspection criteria for’constrained sales behavior’.

In simple terms, the act of binding sales refers to the sale of other financial products, such as investment products such as funds and ELS (stock price-linked securities), and security products such as bancassurance (bank sales insurance), while the bank makes a loan.

In order to prevent the so-called “breaking” practice of financial institutions that recommends purchasing funds and insurance products using loans as a pretext, the gold law expanded the subject of inspection of binding sales activities of investment and guarantee products to “all debtors”.

In the case of Bank A, through the bylaws, the subject of inspection has been limited to’low credit ratings (under 7th grade)’. Borrowers with such low credit ratings were in fact difficult to obtain loans themselves, so household loans were rarely subject to the restriction on binding sales.

However, as all borrowers are now subject to inspection, the act of selling investment and guarantee products such as funds and bancassurance for one month before and after the loan execution date has been virtually banned.

In other words, a person who plans to or has received a loan from a bank cannot sign up for a fund for one month before or after.

An official from the financial authorities said, “Breakdown is allowed up to 1% of the loan amount within one month.” However, each bank operates the system more conservatively to the point that it completely stopped selling funds and other funds in the field for about a month or so.

Therefore, in the future, front-line counter employees must ask consumers “Do you have any loan plans within the next month?” before selling funds. This is because if you are subscribed to the fund and want to receive loans from the bank within one month, you have to cancel the fund.

◇ Prior to the loan, you need to write out the situation of assets and liabilities, repayment plans, etc.

The’right to withdraw a loan contract’ is also the area that will experience the biggest change from the perspective of financial consumers.

In the case of Bank A, under the existing guidelines, household loan products that can withdraw a loan contract within 14 days were limited to’credit loans of 40 million won or less and collateral loans of 200 million won or less’. The maximum number of times to exercise the right to withdraw was’twice a year’.

However, according to the new guidelines announced under the law, the limit on the amount and number of loans that can be withdrawn from a loan contract is completely removed.

Therefore, a consumer who received a credit loan at an annual interest rate of 2.9% at Bank A hears from coworkers and acquaintances that “Bank B can loan at 2.5%”, and within two weeks there is no intermediary repayment fee. The agreement can be terminated. Of course, even in this case, you have to pay interest for the duration of the loan.

In the course of loan consultation, consumers must also write out a’conformity/appropriate customer information confirmation’.

It means that prior to the loan, the bank must receive basic information such as the condition of the borrower’s assets and liabilities, fixed expenditure, the purpose of signing the loan contract, and the principal and interest repayment plan before the loan can be reviewed.

Basically, the bank calculates the loan status or limit based on the consumer’s employment certificate, proof of income, credit rating, etc., but in addition to this, it secures more information on economic conditions such as assets, liabilities, and expenditures and loan repayment plans. Based on this, an appropriate loan size, etc., is recommended.

However, this confirmation of conformity and adequacy customer information is only used as basic data, and the consumer is not obligated to prove it.

In some cases, the scope of the security rights exercised by banks has narrowed in corporate loans rather than household loans.

In the case of Bank A, the guidelines were changed so that only’specific root collateral’ is possible when establishing a security right for all collateral.

For example, if a company received two separate mortgage loans from a bank, until now, most loans were made using “limited money collateral”, so even if repayment of only one loan became difficult, the bank had to bind the two loans together and exercise the security right.

However, with only’specified root collateral’, not’limited root collateral’, banks can only exercise their collateral for as long as they are pledged. As the scope of banks’ security rights exercise has narrowed, the protection of lenders’ property rights, etc., is strengthened.

An official from the financial authorities explained, “As in the past, only comprehensive root collateral is prohibited, but limited root collateral is not completely banned,” but an official from Bank A explained that “we have decided not to also do limited root collateral that may be controversial.

A commercial bank official said, “We agree with the purpose of preventing unreasonable product solicitation and protecting consumers’ rights.” To be honest, it’s true that it’s embarrassing.”

[email protected]

Unauthorized reproduction-redistribution prohibited>
2021/03/28 15:00 sent