KakaoBank has launched a "calculator" service that allows users to easily check the expected loan limit and interest rate for real estate-secured loans for sole proprietors. It is also running a related event.

KakaoBank said on July 13 it will run an event that pays up to 6,000 won to customers who check the loan limit and interest rate for real estate-secured loans for sole proprietors.

The newly launched calculator provides an estimated loan limit and interest rate when users choose a loan purpose between "business operating funds" and "funds to buy a business site" and enter an address, loan amount and sales information.

It cuts inquiry time by skipping procedures that were previously required in the loan inquiry process, including checking real estate information and verifying business sales.

To mark the launch, it will run an event until Aug. 11. Customers who use the calculator to check their loan limit and interest rate will receive up to 1,000 won in random cash, and those who then click "Apply for a loan" and complete a formal inquiry will receive an additional 5,000 won.

The formal loan inquiry event is for KakaoBank sole proprietorship customers who are currently operating a business.

A KakaoBank official said, "We launched the service so customers can check the loan limit and interest rate for real estate-secured loans for sole proprietors more conveniently." The official added, "We will continue to expand financial services for small business owners."