Shinhan Bank has introduced an emergency loan product to support urgent living expenses for customers receiving the basic pension.
Shinhan Bank said on Sunday it launched the "Shinhan Basic Pension Emergency Loan" for senior customers who receive the basic pension into a Shinhan Bank account.
The Shinhan Basic Pension Emergency Loan is a living-expense support product that customers receiving the basic pension through Shinhan Bank can apply for. It is operated as a minus-account facility with a single limit of 500,000 won. The loan term is 3 years and an annual interest rate of 0.1 percent applies. The product is launched with a total limit of 100,000 accounts.
To mark the launch, it will also run a thank-you event through Sept. 30. The first 5,000 customers who use the basic pension emergency loan will receive 2 MegaMGC Coffee mobile coupons.
A Shinhan Bank official said it is an inclusive finance product designed to support senior customers' demand for urgent living expenses. The official added the bank will continue to expand financial support that provides practical help to financially vulnerable groups.
Ji-young Lee
ljy@d-today.co.kr