KB Kookmin Bank Launches 'KB Kookmin Leap Loan'

KB Kookmin Bank introduced the 'KB Kookmin Leap Loan' on the 20th, a product designed to help low-income households struggling with high interest burdens by converting their non-bank credit loans into commercial bank loans with lower rates.

This product is a revamped version of the 'Kookmin Hope Loan' previously operated, targeting customers who have been using non-bank credit loans for at least six months. It does not impose restrictions on annual income or employment duration, allowing individuals from various professional backgrounds to apply.

The maximum interest rate for the loan is capped at 9.5% per year, and this rate will apply even after the loan is disbursed. KB Kookmin Bank has implemented a specialized credit scoring model for low-income borrowers utilizing alternative data.

KB Kookmin Bank was recognized for its 'Credit Loan Debt Adjustment Product 4 Types New Interest Rate Reduction' in January, selected as an excellent case in the '7th Mutual Growth & Cooperation Financial New Product' competition hosted by the Financial Supervisory Service. On the 6th of this month, it lowered the interest rate for new 'KB Saehope Holssi II' loans by 1 percentage point.