신한저축은행 온라인햇살론Credit Loan
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The average interest rate changes depending on your credit score
Average interest rate
9.9%
Maximum limit
20 million won
43rd
Average interest rate calculation criteria
Based on data compiled from Banksalad My Data for the past 12 months
Main features
Policy finance loans provided by savings banks and the government to provide financial support to low-income, low-credit individuals
Loan interest rate
· 9-11% per annum (varies monthly)※ Financial companies decide autonomously within the upper limit interest rate notified by the Financial Supervisory Service every month
Loan limit
Up to 20 million won
Loan period
3 years or 5 years
Interest rate type
Variable interest rate
Loan repayment method
Equal principal installment repayment
Delinquent payment interest rate
Agreement interest rate + 3% (within 15% per annum)
Interest imposition period
Pay the principal and interest in installments on the application payment date each month: Interest collection
Premature repayment fee
None
Application conditions
· Annual income of 35 million won or less Those with low income or annual income of 45 million won or less and whose personal credit score is in the bottom 20% as calculated by one or more personal credit rating agencies (employees for 3 months or more) ※ As of 2024, NICE 749 points, KCB 700 points or less
Online Sunshine Loan Eligibility: Those with Sunshine Loan workplaces ① Those who have paid their health insurance premiums for the past 3 months or more ② Those who have a joint certificate and a mobile phone in their name
※ If you apply for an online Sunshine Loan, the interest rate will be reduced by 0.5%p compared to the existing Sunshine Loan. Required documents
Identity verification, employment, income documents
Additional expenses
Guarantee rate within 2.5% per annum ① Low-income (KRW 35 million or less per annum) youth (34 years old or younger) 0.5%p reduction ② Social consideration targets and recipients of earned income tax credits and self-supporting workers are reduced by 1%p per annum※ ① and ② cannot be reduced in duplicate
*Guarantee rate reduced by 0.1% for those who have completed financial education or credit debt management consulting or successfully found employment under the National Employment Support System
* Social consideration targets: Single-parent families and households under Article 5 of the Single-Parent Family Support Act, grandparent-grandchild families under Article 5-2 Paragraph 2 of the same Act, multicultural family households under Article 2 of the Multicultural Family Support Act, North Korean defectors under Article 2, Paragraph 1 of the Act on the Protection and Settlement Support of North Korean Defectors, registered disabled persons under Article 32 of the Act on Welfare of Persons with Disabilities, National Basic Living Security Act National basic livelihood recipients under Article 2, Paragraph 2, and the lower-middle class under Article 2, Paragraph 10 of the same Act
Notes
· Excessive lending may cause a decrease in your personal credit score.· A decrease in your credit rating or personal credit score may result in restrictions or disadvantages in financial transactions.· In case of delinquency, you may be required to repay the principal and interest before the end of the contract period.· Loan limits and interest rates are applied differently depending on your credit score.· We have a number of loan products, and each product has different targets, limits, and interest rates. We will guide you to the right product during the consultation process.· We may request the submission of documents required for loan screening, and the screening results may vary or the loan may be rejected depending on screening criteria such as credit score, income, and financial transaction status.· You may request an interest rate reduction if it is determined that your financial status has improved or your credit rating has increased. However, loan products whose interest rates are determined regardless of the borrower’s credit rating (stock loans, group loans, deposit-backed loans, etc.) are excluded, and the loan interest rate may not be reduced depending on the review results. · General financial consumers may withdraw their application for a loan contract within 14 days from the day following the loan contract conclusion date, and must return the money/goods already supplied and the interest and fees therefor. In addition, once the right of withdrawal has been exercised and taken effect, it cannot be cancelled. · If a financial company violates the sales principles and concludes a financial product contract, the cancellation of the contract may be requested for 5 years from the contract date, or 1 year from the date the illegality became known. (Cannot be exercised upon termination of contract) · Financial consumers may request to view materials (including provision of copies or hearing) for the purpose of exercising their rights, such as dispute resolution or litigation, in accordance with Article 36 of the Financial Consumer Protection Act. · You have the right to receive a sufficient prior explanation of the relevant product in accordance with Article 19, Paragraph 1 of the Financial Consumer Protection Act, and please make a transaction after understanding the explanation. · Please check the product description and basic terms and conditions of credit transactions before entering into a contract. · This information is provided through procedures in accordance with laws and internal control standards. · If you have any complaints (grievances) after signing up for a product, you may contact the Customer Center (1644-7777) or the Internet homepage (www.shinhansavings.com), and if a dispute arises, you may request assistance from the Financial Supervisory Service (1332 without area code), etc. Savings Bank Central Association Deliberation Required 2023-00893 (23.08.07~24.08.06) Compliance Supervisor Deliberation Required Retail 2023-01025 (23.07.31~24.07.30)
