Hana Bank has announced the suspension of new online mortgage loans. This decision comes as a response to ongoing increases in lending despite government regulations on household loan limits.
According to financial industry sources, Hana Bank will temporarily halt the processing of new online mortgage loans starting today.
Additionally, beginning August 11, the limit for overdraft accounts will be capped at 50 million won. However, the existing credit loan limit of 100 million won per borrower will remain unchanged. The bank will also temporarily stop processing new variable-rate mortgage loans, both online and in-person, starting August 12.
A bank official stated, "This is aimed at efficiently managing household loans and maintaining a stable financial supply focused on actual demand."
Previously, in June, Hana Bank limited household credit loans to a total of 100 million won per borrower and suspended new subscriptions to mortgage insurance (MCI, MCG) starting July 1.
As demand for household loans remains high, banks have recently been competing to tighten lending practices.
KB Kookmin Bank reduced its mortgage loan limit from 600 million won to 300 million won and has recently raised interest rates. Other banks have also taken measures such as halting loan applications, reducing preferential rates, and restricting mortgage insurance subscriptions. This year, the increase in household loans among the five major banks has exceeded the annual target submitted to the Financial Supervisory Service by over 1 trillion won.
* This article has been translated by AI.
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