On September 2, PFCT, which operates the online financial platform KPL, announced a promotion offering a 1% point reduction in personal loan interest rates for low to mid-credit borrowers. The initiative aims to alleviate the interest burden on these borrowers and lower the barriers to accessing mid-interest loans.
PFCT stated that customers who take out new personal loans through KPL will receive a '1% interest rate discount coupon' until the end of the month.
Most users of KPL's personal loans are low to mid-credit borrowers. In the first quarter of this year, 96.7% of loans were issued to borrowers in the bottom 50% of credit scores, with 41.5% of those loans going to borrowers in the bottom 10% of credit scores.
PFCT explained that the ability to offer such significant rate discounts stems from 'structural fee reductions.' Unlike typical loan comparison and recommendation services that incur intermediary fees between financial institutions and platforms, KPL operates its own online financial services, allowing it to reduce related costs. The savings from these distribution and intermediary costs are redirected to lower loan interest rates instead of being used for one-time marketing expenses.
A KPL representative stated, "This promotion aims to return cost savings to customers who execute loans directly through KPL, while also attempting to enhance the platform's structural efficiency. We will continue to introduce services that provide tangible financial benefits to customers through various partnerships."
* This article has been translated by AI.
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