Banksalad's AI-based interest rate cut request service has seen its users more than double since its launch. One case showed annual interest reduced by 9.3 million won through an interest rate cut.

Banksalad said on Aug. 27 that customers using its "AI interest rate cut request" service in July increased by more than 125 percent from March, when the service was launched.

The interest rate cut request proxy service has been available through MyData operators since February under the Financial Services Commission's inclusive finance policy.

Before applying for an interest rate cut request, Banksalad applies a "boost credit score" feature. It checks the potential to improve a customer's credit score first and then applies for a rate cut.

Banksalad said customers who succeeded in cutting rates through an AI agent lowered their rates after an average of 1.7 applications.

Users of loan refinancing also increased. In July, customers using Banksalad's loan refinancing service rose more than two-fold from the monthly average in the first quarter of this year.

A Banksalad official said, "Even if conditions are met, it can be difficult for customers to take care of an interest rate cut request themselves." The official added, "We will support customers so they can maintain more favorable loan terms by advancing our loan management services."