NH Nonghyup Bank Cuts Mortgage Rates by Up to 0.45% to Ease Borrower Burden

NH Nonghyup Bank is reducing household loan interest rates to alleviate financial burdens for borrowers.

According to the financial sector on September 11, NH Nonghyup Bank will lower its face-to-face mortgage loan rates starting September 16. The upper limit will decrease by 0.45 percentage points, while the lower limit will drop by approximately 0.20 percentage points.

The bank will also reduce the upper limit on credit loan rates by about 0.20 percentage points. A representative from NH Nonghyup Bank stated, "We are adjusting rates to strengthen support for actual borrowers."

However, other major commercial banks currently have no plans to lower their mortgage loan rates. Hana Bank, Woori Bank, Shinhan Bank, and KB Kookmin Bank have all indicated they do not plan to reduce mortgage rates.

As of today, NH Nonghyup Bank's mortgage loan rates are between 4.46% and 6.46% for variable rates, and between 5.34% and 7.24% for fixed rates. The credit loan rates are set at 4.90% to 6.10%, based on six-month financial bonds.