Toss is lowering brokerage fees for its loan comparison service to support the expansion of savings banks' Special Sunshine Loans. This move aims to alleviate the burden on savings banks, which are a key source of funding for low- and mid-credit borrowers.
Viva Republica, the operator of Toss, announced on August 19 that it will reduce the brokerage fees charged to savings banks offering Special Sunshine Loan products by approximately 16%.
The Special Sunshine Loan is a policy financial product aimed at low-credit individuals with an annual income of less than 35 million won and a credit score in the bottom 20%.
Currently, there are eight savings banks participating in Toss's loan comparison service that offer the Special Sunshine Loan. The reduced brokerage fees will be in effect until the end of the year, and Toss plans to continue providing related support thereafter.
Toss expects that the fee reduction will lessen the cost burden on savings banks, thereby increasing their capacity to supply policy financial products to low-credit borrowers.
A Toss representative stated, "Savings banks are important partners in providing essential funds to low- and mid-credit borrowers. We will continue to collaborate with savings banks to contribute to inclusive finance."
* This article has been translated by AI.
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