Banks closing’door’ loans… Stopping non-face-to-face credit loans

Shinhan Bank has decided not to accept new applications for non-face-to-face credit loans until the end of the year. Earlier, Woori Bank stopped selling its flagship products for non-face-to-face loans from the 11th.

Banks that have started to manage the total amount of household loans before the end of the year are closing their lending counters, and it is observed that such restrictions may continue until early next year.

Shinhan Bank announced on the 14th that it will stop non-face-to-face employee credit loans through applications (apps), including’convenient employee credit loans’ from the 15th to the 31st. During business hours, you can visit the branch counter and get a loan through consultation with the staff. A bank official explained, “We decided to temporarily block the loan path through the app in order to manage reckless loans.”

Starting on the 15th, the limit on credit loans for professionals such as doctors and lawyers will be lowered from’up to 300 million won’ to ‘200 million won’. Acceptance of mortgage loans and officetel mortgage loans through loan counselors will also be suspended until the 31st. Previously, KB Kookmin Bank also banned mortgage loans to other banks, and also banned the recruitment of mortgages and loans from loans to other banks from the 9th. An official from the financial sector predicted, “Even if the year changes, it will not be easy to ease the reduced credit limit or preferential interest rate as before unless the financial authority ordering the pace of credit loans changes.”