Search results for interest rate cap
Finance
Shinhan Bank to cap loan rates for mid-to-low credit borrowers at 6.9 percent
Shinhan Bank will offer mid-rate loans to mid-to-low credit borrowers with an annual interest rate cap of 6.9 percent. It will lower financing costs and ease borrowing hurdles by refining screening criteria, improving repayment terms for Saehopeum Holssi, and launching a Super SOL-exclusive mid-rate loan. The bank said the measures are part of Shinhan Financial Group’s Inclusive Finance 2.0 ON project and include new products planned for August.
Finance
Woori Financial Group to expand productive and inclusive finance by 10 trillion won
Woori Financial Group will increase its support for productive and inclusive finance by 10 trillion won, expanding funding for advanced strategic industries, exporters and other parts of the real economy. It will also strengthen support for vulnerable groups by writing off long-overdue debts and supplying mid-interest loans. The group plans to raise the target of its Future Shared Growth Project to 90 trillion won and provide 3.5 trillion won in inclusive finance within the year.
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.
