Bank loan’cliff’… Shinhan new credit loans stopped, only up to KRW 20 million KB (PG)▶ Click here to enlarge
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Banking Team = As banknotes tightened household loans strongly at the end of the year to manage the total amount of loans, it became difficult to receive not only billions of loans, but even millions and tens of millions of won of credit loans.
According to the financial sector on the 22nd, Shinhan Bank decided not to accept new applications for most household loan credit products, excluding ordinary financial products, at its branches from the 23rd to the end of the year. New loans are expected to resume on January 4th next year.
An official from Shinhan Bank said, “This is a measure to prevent the expansion of the risk (risk) caused by the increase in household loans,” and “In the case of emergency living stabilization funds, we will provide support through the headquarters approval review.”
Since Shinhan Bank has already stopped “convenient employee credit loans,” a flagship non-face-to-face product for office workers, from the 15th, it is the same as withdrawing from both face-to-face and non-face-to-face credit loans from tomorrow to the end of the year.
KB Kookmin Bank also blocks all new household credit loans exceeding 20 million won in principle from this day to the end of the year.
This means that if a consumer has applied for a new or requested increase in credit loans (including collective credit loans and negative bankbooks) exceeding 20 million won, he will not grant the loan approval.
Starting on the 14th, the company has in principle stopped all household credit loans exceeding 100 million won by adding new and additional applications and existing cases, followed by stronger loan regulations.
However, if the desired loan date is after January 4 of next year or the first sending date of loan documents is before the 21st of the past, credit loans supported by ordinary people’s finances (KB Site Middle Interest Rate Loan, KB New Hope Scepter II, KB Happy Dream Loan II, etc.) This is possible.
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KB Kookmin Bank blocks credit loans exceeding 20 million won starting today▶ Click here to enlarge
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Hana Bank also decided not to deal with the flagship non-face-to-face credit loan product’Hana OneQ Credit Loan’ from the 24th.
An official at Hana Bank said, “Because this product is the most in-demand credit loan product in both face-to-face and face-to-face terms, it has a great impact on loan performance. However, in order to cope with the recent surge in household debt, sales will be temporarily suspended.” Revealed. The timing of the resumption of sales has not been decided yet.
In addition, from this day on, Hana Bank decided to lower the reduction interest rate (preferential interest rate) for some mortgage and jeonse loans, such as hybrid mortgage loans and new housing loans, by 0.3 percentage points (p).
When the preferential interest rate decreases, the final interest rate paid by the borrower (the person who borrows money) increases by that amount.
Although there are some differences in the intensity of regulation, banknotes, which have had their homework for managing the total amount of loans at the forefront of the recent year-end, are locking down household loans, especially credit loan counters.
On the 17th, Kakao Bank, an internet bank, stopped a new’minus bankbook credit loan’ for high-credit workers.
Woori Bank also stopped selling’We WON Office Worker Loans’, the flagship product of non-face-to-face credit loans from the 11th.
In addition, KB Kookmin Bank and Shinhan Bank are also planning to prevent housing and officetel mortgage loans and recruitment of all-family loans through loan counselors by the end of the year. Similar to a card recruiter, a loan consultant acts as a loan consultation counter outside the bank and connects the actual bank and the borrower (the borrower), which means that they will not accept loan applications through them for the time being.
The limit on credit loans for professionals such as doctors and lawyers, who are consumers of hundreds of millions of dollars of high-priced credit loans, is also on the decline.
Hana Bank plans to reduce the default limit for professional credit loans from 150 million won to 50 million won from the end of this month as early as 100 million won, and Shinhan Bank has already raised the upper limit for professional credit loans from 250 million to 300 million won by job category. It was lowered to KRW billion.
The pace of actual credit loan growth has also slowed noticeably this month as a result of the strong’loan tightening’ of banknotes.
The balance of personal credit loans of the five major commercial banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) was 133.2 trillion won as of the 22nd, an increase of 130.9 billion won from the end of last month. Compared to the increase in November, which exceeded KRW 9.4 trillion, it is virtually stagnant.
┌──────────────────────────┐
│ 5 major banks’ balance of household loans from November to December (unit: KRW billion)
│ ※ Collecting data from each bank │
├──────┬───────────────────┤
│ Date │ Personal credit balance │
├──────┼───────────────────┤
│ November 30│ 1,336,925│
├──────┼───────────────────┤
│ December 1│ 1,327,946│
├──────┼───────────────────┤
│ December 2nd│ 1,331,599│
├──────┼───────────────────┤
│ December 3rd│ 1,334,199│
├──────┼───────────────────┤
│ December 4│ 1,334,581│
├──────┼───────────────────┤
│ December 7│ 1,338,036│
├──────┼───────────────────┤
│ December 8│ 1,335,180│
├──────┼───────────────────┤
│ December 9│ 1,337,230│
├──────┼───────────────────┤
│ December 10│ 1,335,689│
├──────┼───────────────────┤
│ December 11│ 1,336,447│
├──────┼───────────────────┤
│ December 14│ 1,342,363│
├──────┼───────────────────┤
│ December 15│ 1,350,296│
├──────┼───────────────────┤
│ December 16│ 1,348,719│
├──────┼───────────────────┤
│ December 17│ 1,340,163│
├──────┼───────────────────┤
│ December 18│ 1,336,308│
├──────┼───────────────────┤
│ December 21│ 1,338,234│
└──────┴───────────────────┘
※ Collecting data from each bank
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