KakaoBank is offering preferential interest rates of 0.3 to 0.5 percentage points to customers using credit loan products from 28 partner financial firms. It applied the benefit to 60,000 loans over three months starting in April, and estimated annual interest savings at 2 billion won.

KakaoBank said on Sunday it will run a preferential rate event for customers who search and take out partner lenders' loan products through its "Compare Credit Loans" service.

The event runs through Sept. 30, with 28 financial firms participating, including regional banks, savings banks and capital companies.

Customers can compare loan terms from multiple financial firms in the KakaoBank app and select products eligible for the preferential rate to receive an interest-rate discount without a separate application process.

KakaoBank has been providing preferential rates with partner financial firms since April. Preferential rates were applied to 60,000 loans over the past three months. Based on this, KakaoBank analysed total annual interest savings at 2 billion won.

The event is operated by KakaoBank lowering partner financial firms' burden of platform usage fees and supporting financial firms to offer lower loan rates to customers. KakaoBank expects it will also help reduce financial costs for mid- to low-credit customers, who face a relatively heavy interest burden.

A KakaoBank official said, "We have been providing preferential rate benefits since April to help reduce customers' financial costs beyond comparing loan products," adding, "We will seek ways to lower interest burdens for financial consumers by cooperating with partner financial firms."