Shinhan Bank will extend for 1 year its interest-rate cut support to reduce financing costs for customers with high-interest household loans.

Shinhan Bank said it will extend for 1 year from Aug. 26 its household loan rate cut support that it implemented last year as part of the Help-up & Value-up project.

From July 18 last year for 1 year, Shinhan Bank has lowered to 9.8 percent the rates on household loans with interest rates above 9.8 percent.

The extended support applies to customers who, as of July 2026, have household loans with interest rates above 9.8 percent and at least 3 months remaining to maturity. The loan rate will be lowered to 9.8 percent without a separate application.

The support period runs until the loan maturity date, and if the remaining maturity exceeds 1 year, it applies for up to 1 year.

Shinhan Bank expected the support to cover a total of 28,411 loans, with an outstanding balance of about 311.4 billion won. If a loan becomes delinquent during the support period, the existing loan interest and delinquency interest will be charged.

A Shinhan Bank official said, "We decided to extend the interest-rate cut support to continue easing the burden of financing costs for customers using high-interest household loans." The official added, "We will continue to promote inclusive finance."