Search results for interest rate cap
Finance
Woori Bank launches 18.4 trillion won emergency financial support program amid Middle East uncertainty
Woori Bank said on Tuesday it is launching an emergency management financial support program worth 18.4 trillion won to minimise financial market volatility and real-economy impacts stemming from uncertainty in the Middle East. The bank plans 18.3 trillion won for companies, including liquidity and export-import support, and about 100 billion won for individuals and financially vulnerable groups. It will also run a foreign-exchange counselling team and strengthen risk monitoring.
Finance
Woori Bank to apply 7 percent interest rate cap to new personal credit loans
Woori Bank said it will expand its interest rate cap system to cover new personal credit loans from March 23, limiting rates to within 7 percent. The bank has applied the cap to customers extending or renewing personal credit loans. Eligible customers with at least one year of transactions with Woori Bank may receive the cap for up to one year, once. Woori also plans to launch a WON Dream living-expense loan for low-income vulnerable groups.
Finance
KB Kookmin Bank steps up inclusive finance with debt workouts, counselling and rate cuts
KB Kookmin Bank said on Thursday it is strengthening inclusive finance to help vulnerable groups recover quickly. The bank expanded eligibility for its in-house debt adjustment programme to delinquent borrowers with loans of up to 50 million won and expects more than 4,000 additional customers to benefit. It also set up a dedicated debt workout counselling organisation, launched mobile applications for debt adjustment, opened KB Hope Finance Centers in Seoul and Incheon, and has provided psychological counselling since November. The bank also cut rates on key retail finance products.