Hana Bank Offers Fixed 5.5% Rate Credit Loans Up to 10 Million Won for Low-to-Medium Credit Borrowers

Hana Bank has introduced a new credit loan product aimed at providing stable financial support to individuals with low to medium credit scores. The 'Hana One Q Safe Mid-Rate Loan' is a non-face-to-face service offering a fixed annual interest rate of 5.5% and a maximum loan amount of 10 million won (approximately $7,200 USD).

This product marks a significant development as it is the first in the Korean banking sector to be developed using the bank's own capital for mid-rate lending. It specifically targets customers who fall within the bottom 50% of personal credit score rankings. By offering a predictable fixed interest rate, Hana Bank aims to alleviate financial uncertainty for this demographic.

Beyond its core lending function, the product is designed to be accessible to a broader customer base by improving upon traditional loan structures that often focus solely on salary earners. Furthermore, Hana Bank is leveraging its 'loan refinancing' service to assist existing borrowers with high-interest loans, offering them an opportunity to lower their overall interest payments and improve their financial standing.