Shinhan Card Launches Mid- to Low-Credit Lifestyle Stability Loan Up to 10 Million Won

Shinhan Card announced the launch of its 'Mid- to Low-Credit Lifestyle Stability Loan,' a private mid-interest product aimed at borrowers with lower credit scores.

The loan is available to customers in the bottom 50% of credit scores, with a maximum limit of 10 million won and a repayment period of up to 36 months. Interest rates will range from 9.9% to 12.26% annually.

While the total debt service ratio (DSR) regulations will apply, there will be no restrictions on the loan limit based on annual income. However, borrowers must agree not to purchase a home for one year from the loan disbursement date.

The loan can be applied for online through the Shinhan SOL Pay app and the Shinhan Card website.

A Shinhan Card representative stated, “We proactively launched the mid-interest lifestyle stability loan based on our stable credit evaluation capabilities. We will actively participate in Shinhan Financial Group's 'Inclusive Finance 2.0 ON' initiative to enhance financial accessibility for mid- to low-credit borrowers.”