Online investment-linked financial company Daily Funding is expanding its inclusive finance policy to reduce the financial burden on low and mid-credit borrowers. The company will lower the loan extension fees for borrowers whose income has decreased and offer interest rate discounts for responsible payers.
On July 8, Daily Funding announced that it would reduce platform commission rates by up to 50% for borrowers who have experienced a decrease in income and an increase in interest rates during the loan extension review process. This initiative aims to enhance the principal repayment capacity of borrowers facing increased living expenses and alleviate their interest burden.
The company is also strengthening its incentives for responsible payers. Borrowers with improved credit scores or increased income will be eligible for interest rate discounts of up to 1 percentage point.
Even borrowers with a history of late payments during the loan period can receive the interest rate discount if they have only one instance of a simple late payment of three days or less. This measure considers the characteristics of online investment loan borrowers who make direct principal and interest payments via bank transfer.
The criteria for refinancing loans have also been relaxed. For financially vulnerable groups such as thin-file borrowers, freelancers, retirees, and self-employed individuals applying for refinancing to repay existing loans, the standards have been eased to allow loans even with a history of late payments of less than 30 days.
Lee Min-woo, CEO of Daily Funding, stated, "We will actively implement inclusive finance policies that low and mid-credit borrowers can feel, helping them stabilize their lives and regain economic footing. We are also preparing various measures to resolve the information asymmetry faced by investors in the online investment sector."
* This article has been translated by AI.
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