Living-cost overdraft line of up to 1 million won
Housing loan of up to 20 million won with installment repayment
NH NongHyup Bank announced Wednesday that it has launched two credit loan products — the NH Youth Regional Return Loan and the NH Youth Regional Return Companion Loan — targeting people between the ages of 19 and 45 who are leaving the Greater Seoul area to settle in other regions.
The NH Youth Regional Return Loan, designed to cover living costs, is available to youth relocating from the Greater Seoul area — Seoul, Gyeonggi Province and Incheon — to other parts of the country. It provides up to 1 million won ($643) through an overdraft account for up to 12 months.
The NH Youth Regional Return Companion Loan, intended for housing costs, offers up to 20 million won repayable in installments over up to 60 months. Both products offer preferential interest rates of up to 1.5 percentage points, including an inclusive rate, and can be applied for through the NH All One Bank app. Applicants seeking the housing loan must submit supporting documents — such as a sales contract or transfer records — to verify that the funds will be used for housing purposes.
"We launched these products in partnership with the Youth Foundation to help young people put down roots outside the capital region," said bank president Kang Tae-young. "NongHyup Bank will concentrate all its efforts on easing the financial burden on consumers at the forefront of the local economy and helping communities regain their vitality."
Further details are available through the NH All One Bank app, nearby NongHyup Bank branches or the customer service center.
won@heraldcorp.com
