Hana Bank announced on the 17th that it will establish a preferential interest rate for socially disadvantaged individuals to help financially vulnerable groups by reducing interest on housing.
Eligible beneficiaries include single-parent families, basic livelihood security recipients, multicultural families, and people with disabilities. Hana Bank plans to offer benefits to reduce housing costs for vulnerable groups within a range of up to 0.4% for the 'Hana OneQ Apartment Loan 2' set to launch on the 19th of this month.
Additionally, it has been decided to increase the support limit of the diligent repayment program for vulnerable borrowers from 1 billion won to 2 billion won. This program targets vulnerable borrowers with low credit scores or those who have multiple debts.
For borrowers who have extended credit loans with interest rates exceeding 6%, the amounts exceeding 6% will be used to automatically repay up to 3% of the principal amount each month.
Moreover, the 'Sunshine Loan Youth' interest cashback program for young and low-income borrowers will also be introduced. Hana Bank has decided to provide an amount equivalent to 2% of the loan balance through Hana Money monthly for one year following loan processing. This interest cashback program will be implemented on the 25th of this month.
An official from Hana Bank noted, "We will implement practical inclusive finance that can continue sustainable growth across society."