KB Kookmin Bank is launching principal repayment support for Saehuimang Holssi loan customers to reduce financing costs for vulnerable borrowers.
KB Kookmin Bank said on June 28 it will run the "Saehuimang Holssi II financing cost support programme" through year-end.
The programme is part of KB Financial Group's "KB Kookmin Happiness Hope Project". KB Kookmin Bank set up the support scheme to reduce interest burdens for financially vulnerable groups after cutting the interest rate on new "KB Saehuimang Holssi II" loans by 1 percentage point in March.
Eligible customers are those who switched existing KB Kookmin Bank unsecured loans to Saehuimang Holssi II and have paid interest faithfully. The support period runs through Dec. 31, and eligible customers can apply through branches.
KB Kookmin Bank plans to support the interest burden on loan rates above 7 percent and use it for customers' loan principal repayments.
A KB Kookmin Bank official said the programme is an inclusive finance programme aimed at substantially easing financing cost burdens for financially vulnerable groups, adding it will continue to expand a range of inclusive finance support.
Ji-young Lee
ljy@d-today.co.kr