"KHFC launches Economic e-Bogeumjari Loans with reduced interest rates"

Improved convenience as the whole procedure from loan application through receipt can be handled

without visiting the bank

The Korea Housing Finance Corporation (KHFC) announced on the 18th that it was launching a new long-term, fixed-rate mortgage loan scheme called "Economic e-Bogeumjari Loans" on the 19th.

The new product features a 0.1%p lower interest rate than the existing Bogeumjari Loans. The whole procedure from loan application through receipt can be handled without having to visit a bank, as loan agreements and keun mortgage contracts can be made online.

The product is currently available only with Hana Bank. Potential subscribers should visit the official website of KHFC (www.hf.go.kr) or Hana Bank (www.hanabank.co.kr) and apply for Economic e-Bogeumjari Loans.

"This product was developed as part of the 'Integrated Provision of Customer-Centric Customized Services' which is one of the 10 major initiatives for Government 3.0," said one KHFC official. "We cut the interest rates by 0.1%p by slashing sales commissions for banks and reducing the costs for registration applications with the introduction of electronic registration." He went on to explain, "Our busy customers will find this mortgage loan all the more appealing, as the product does not require bank visits. Starting with Hana Bank, we will continue to increase the number of banks offering Economic e-Bogeumjari Loans."