Annual Jeonse Loan Rates for August Average 2.93%

- The annual rates of HF-guaranteed Jeonse loans offered by commercial banks go down as low as 2.80%

Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) revealed on the 11th that August's weighted average annual interest rate of Jeonse loans offered by commercial banks* under HF's guarantee was 2.93%, a 0.09%-point drop from the previous month.

     *Loans pooled from the National Housing Fund, such as Beotimmok Jeonse Loan

Among commercial banks that offer Jeonse loans, Shinhan Bank offers the lowest weighted average rate, down to 2.80%, followed by KEB Hana Bank (2.91%) and Woori Bank (2.97%).

Under the Jeonse Loan Guarantee Program, HF offers the guarantee for individuals set to take out a Jeonse loan at a commercial bank. HF's guarantee is offered for residential units resided in by the loan applicant (including residential studios), and HF-guaranteed Jeonse loans are available at 16 commercial banks.

In addition, HF discounts its guarantee fee for households with three or more children, those with disabilities, or national honorees; newly-wed, multicultural, or low-income households; and households which take out a Jeonse loan online.  

At the same time, HF discloses the weighted Jeonse loan rates of commercial banks at its webpage (www.hf.go.kr).