From the 15th to the 31st of this month, Shinhan Bank will not accept non-face-to-face applications for employee credit loans, including’convenient employee credit loans’. Convenient credit loan for office workers is a representative non-face-to-face loan product that can be easily obtained from the Shinhan Bank application (app). Since the 14th, the credit limit for professional professions such as doctors and lawyers has been lowered from 300 million won to 200 million won, followed by measures to stop additional loans.
An official from Shinhan Bank explained that it was “measures in response to the recent rapid increase in household debt.”
Shinhan Bank also decided not to accept mortgage loans and officetel mortgage loans through loan recruiters until the 31st of this month. We are not accepting this year’s run anymore, but only the 2021 run.
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.
This year’s low interest rate, new coronavirus infection (Corona 19) related life, and the movement of “young drag” (grabbing the soul) and “debt investment” (investing by loan) led to a surge in demand for loans, resulting in a significant increase in personal credit balances. As household loans surged, the financial authorities pushed the banks with’autonomous measures’. Banks have set a target for the total amount of loans, and in order not to exceed this, preferential interest rates have been continuously removed and the limit on loans has been lowered.
Despite these measures, pressure from the financial authorities intensified as the aggregate regulation target was expected to be exceeded. On the 4th, the Financial Supervisory Service summoned commercial bank executives and warned them again, saying, “Make sure to follow the goal of managing the total amount of household loans this year.” The Financial Supervisory Service strongly rebuked two commercial banks for failing to adjust the rate of household loans, which made it difficult to achieve the goal of managing total volume within the year. Rumors have circulated that they will be summoned soon, requesting individual interviews with the bank’s chief and vice-president.
As the situation quickly turned around, banks even lowered their limits and mobilized extraordinary measures such as’blocking the window’.
KB Kookmin Bank will also suspend all household credit loans exceeding 100 million won by the end of the year. Loans cannot be obtained if the credit loans (including collective credit loans and negative bankbooks) that have been newly applied or requested for an increase by the end of the year exceed 100 million won in addition to the existing credit balance.
Earlier, on the 11th, Woori Bank stopped selling’We WON Office Worker Loans’, the flagship product of non-face-to-face credit loans. Kakao Bank, an internet bank, also raised the minimum interest rates for credit loans and negative bankbooks by 0.1 percentage points and 0.25 percentage points, respectively, from the 3rd.
Meanwhile, the credit balance of the five major banks increased from 128 trillion 841 trillion won at the end of last October to 133.692.5 billion won at the end of last month, up nearly 5 trillion won in one month.
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