HF Offers Special Guarantee For Underprivileged Groups

- From the 14th, HF guarantees 80% of Jeonse deposit up to 50 million won
- It offers a 0.1%-point discount from its Jeonse guarantee fee

Korea Housing Finance Corporation (HF, CEO Lee Jung-Hwan) stated on May 10, 2018, that it will launch its ‘Special Jeonse Guarantee for state-sponsored low-income financial services*’ on the 14th. This is part of the Government's‘Financial Support Measures for the Housing Stability of Low-Income and Real Rental Housing Consumers.’
 *Sunshine Loan, Smile Microcredit, New Hope Loan, Switching Loan, and other loans offered by Korea Inclusive Finance Agency

The new guarantee is available to those who have used, or are currently using, any of the state-sponsored loans of Korea Inclusive Finance Agency with an annual income of KRW 45 million or less. In particular, they must meet either of the following two eligibility requirements: ▲ those who have made at least the last nine monthly payments on their loan without delinquency or ▲ those who have repaid their loan in full on schedule within three years from the date of their application for a loan guarantee. 

The maximum amount of the new guarantee will depend on the applicant's total annual income. It will cover up to 80% of Jeonse deposit within the amount of KRW 50 million won. It also offers a 0.1%-point discount from its Jeonse guarantee fee.

   
Those who wish to apply for a Jeonse loan with the special guarantee must visit the homepage of Korea Inclusive Finance Agency to obtain a 'certificate of good repayment of a state-sponsored low-income loan’ and visit one of the banks offering the applicable Jeonse loan* to check their eligibility. 
 *Jeonse Loan with the Special Guarantee
    To be available from May 14, 2018, at: Kookmin Bank, IBK, NH Bank, Shinhan Bank, KEB Hana Bank, Kyongnam Bank, Daegu Bank, Busan Bank, and Jeju Bank
    To be available from June at: Woori Bank