Hana Bank will provide young customers who take out jeonse rental deposit loans with free rights insurance that covers potential fraud losses that can occur during the monthly and jeonse rental contract process.

Hana Bank said on Wednesday it will provide the 'Youth Monthly-Jeonse Rental Contract Safety Rights Insurance', jointly developed with Hana Insurance, to 10,000 new young customers taking out jeonse deposit loans.

Eligible customers are those aged 19 to 34 who applied for Hana Bank's jeonse deposit loans and meet Hana Insurance's underwriting criteria. Hana Bank will pay the full premium.

The policy covers potential fraud losses that can occur from the rental contract process through the early stage of moving in, up to 300 million won.

Key coverage includes risks related to the counterparty, such as landlord impersonation, contract losses due to forgery and fraud, forged documents such as registry transcripts and defects in rights relationships, and double contracts. If a tenant's rights are violated during the lease contract process and losses occur, the policy covers actual losses such as down payments or deposits within the coverage limit.

As the policy covers losses caused by fraudulent acts, it excludes simple non-return of deposits caused by factors such as a landlord's financial deterioration after the contract ends.

To receive coverage, customers must complete resident registration on the contract start date to maintain opposability. Coverage may be limited if the customer moves out without authorization before the contract ends.

A Hana Bank official said the free support is intended to practice inclusive finance and help stabilize housing for young people. The official added the bank will continue to roll out financial services that help young people facing housing instability settle down with peace of mind.