토스 비상금 대출Toss Emergency Loan
The membership requirement is that you must be a Korean citizen over the age of 19, and anyone can apply without employment requirements or income restrictions. However, if you have bad credit, this is not possible. In other words, you must be a customer who can subscribe to Seoul Guarantee Insurance’s personal finance credit insurance.
The loan limit for Toss Bank emergency loan is from a minimum of 500,000 won to a maximum of 3 million won. Different limits are granted according to the Seoul Guarantee Insurance review standards.
As of June 8, 2023, the emergency fund loan interest rate ranges from a minimum of 6.10% per annum to a maximum of 15.00% per annum. The loan interest rate is applied as the sum of the base interest rate and the additional interest rate. Since the interest rate has risen significantly, it is expected to exceed 6% per annum if it is applied to personal credit as well. The final interest rate can vary greatly depending on your personal credit, so it is a good idea to check the applicable interest rate first before considering taking out a loan.
This product is repaid in one year at maturity and can be extended for up to 10 years in one year increments. Extension is only possible for those who have no history of delinquency. Additionally, it is only available to those who are not subject to rehabilitation, bankruptcy, or discharge.
Toss Bank emergency fund loan is a negative bankbook-type loan. Therefore, during the loan period, you must pay interest every month for the amount used within the limit, and you can repay or reuse the loan by freely adding and withdrawing the amount in the account up to the limit at any time. At the end of the loan period, you must repay the loan balance and all unpaid interest on the maturity date. Early repayment is also possible, and there is no early cancellation fee.
Negative bank account loan interest can be calculated easily and simply by using a loan calculator as it is a lump sum repayment at maturity. Please refer to the post below and apply the loan interest calculation using the lump sum repayment method at maturity.
Loan Interest – Calculator – How to Use
Toss Bank emergency loan extension can be applied for 30 days before the loan maturity (1 year). Toss Bank will send you a notification via KakaoTalk, text, or email one month in advance. If you run the Toss Bank application and look at the emergency loan section, there is a button to apply for extension. Alternatively, you can easily extend your extension by going to the link in the notification text you received.
Applications are available 24 hours a day, 365 days a year. However, loan execution may be restricted from 23:30 to 00:30 PM due to system inspection time. It’s very simple to apply. Run the Toss application, click Toss Bank, then click Emergency Loan and enter your information in order. The review will be completed very quickly, and the available limits and interest rates will be displayed. In my case, with a credit score of 1000, the applicable interest rate was set at 7.23%. The applicable interest rate may vary depending on each individual’s credit score, so be sure to check before applying for a loan.
Toss Bank emergency loan application screen – example image
There are no employment or income requirements for Toss Bank emergency loans, but rejections often occur.
First, if your credit rating is low, you may be rejected. Those with a credit score of 6 or lower may be rejected. You can check your score according to your credit rating through the post below.
Credit rating-Check-Score table-Move link
If you have a large number of loan products, your loan may be rejected due to insufficient repayment ability, and if you have received a loan in the near future, you may be rejected. You may also be rejected due to your customer rating. In this case, we recommend that you contact Toss Bank’s customer service center or use another bank’s emergency loan product.
Minus Bankbook has a positive effect on your credit rating as long as you do not delinquent payments.
Yes it is possible. However, there may be restrictions depending on your credit rating.
If it is difficult to qualify for a fintech emergency fund loan, we recommend that you try the low-interest emergency living expenses loan issued by the government for people with low credit. For information on these products, please refer to the article below to find and use the appropriate product that suits your household situation.
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