IBK Bank has introduced a personal credit loan product worth 1 trillion won aimed at reducing the interest burden for low and medium credit borrowers. The bank plans to lower both financial costs and monthly repayment burdens by implementing a single interest rate and long-term installment repayment method.
On July 31, IBK Bank announced the launch of the 'IBK Good Rate Inclusive Loan' for borrowers in the bottom 50% of personal credit scores (CB).
This product is designed to improve funding conditions for vulnerable borrowers with limited access to financial services and to support stable financial living.
Unlike existing loans where interest rates vary based on complex conditions, this product adopts a single interest rate structure. The base interest rate is set at 4.9%, with an additional 0.2% rate benefit for borrowers aged 34 and under, bringing their rate to 4.7%.
The loan limit is up to 20 million won, and borrowers can repay the principal and interest over a maximum period of 10 years, which reduces the monthly repayment amount.
An IBK Bank official stated, “We designed this product to allow low and medium credit customers to access funds at a lower cost. We will continue to expand inclusive finance to enhance financial accessibility and reduce customer financial burdens.”
On July 31, IBK Bank announced the launch of the 'IBK Good Rate Inclusive Loan' for borrowers in the bottom 50% of personal credit scores (CB).
This product is designed to improve funding conditions for vulnerable borrowers with limited access to financial services and to support stable financial living.
Unlike existing loans where interest rates vary based on complex conditions, this product adopts a single interest rate structure. The base interest rate is set at 4.9%, with an additional 0.2% rate benefit for borrowers aged 34 and under, bringing their rate to 4.7%.
The loan limit is up to 20 million won, and borrowers can repay the principal and interest over a maximum period of 10 years, which reduces the monthly repayment amount.
An IBK Bank official stated, “We designed this product to allow low and medium credit customers to access funds at a lower cost. We will continue to expand inclusive finance to enhance financial accessibility and reduce customer financial burdens.”
* This article has been translated by AI.
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