“ KHFC Announces Interest Rates on Jeonse Loans by Bank for Housing Guarantee Service ”

- Comparing and announcing interest rates on jeonse loans newly offered by banks in the past week

- Encouraging interest rate reduction by improving information access to financial consumers

The Korea Housing Finance Corporation (KHFC) announced on July 3 that it would announce the interest rates on KHFC-guaranteed jeonse loans offered by each participating bank and the guarantee ratio. This is to allow financial consumers to compare the interest rates on jeonse loans easily and encourage banks to lower interest rates.

KHFC will announce the average interest rates on jeonse loans (loans from the National Housing Fund not included) offered in the previous week by banks and the guarantee ratio on both the KHFC website and the Korean Federation of Banks website (www.kfb.or.kr) every Monday. For instance, interest rates on jeonse loans originated from July 1 through 5 will be announced on July 8.

“As we announce the interest rates on jeonse loans, customers can easily compare the jeonse loan interest rates offered by all of the participating banks and guarantee ratio without visiting the banks in person. This should help reduce the cost of housing to low-income households,” said KHFC CEO Seo.