IBK launches special Haetsal loan guarantee for low-income borrowers

Industrial Bank of Korea announced Friday the launch of its "i-ONE Haetsal Special Guarantee" loan product, aimed at improving financial access for low-income and low-credit borrowers.

The product targets salaried workers who have been employed for at least three months and earn no more than 35 million won ($25,200) annually. Only customers whose credit scores from external rating agencies — Nice and KCB — fall in the bottom 20 percent are eligible.

Each borrower may receive up to 10 million won at a fixed annual interest rate of 6 percent, with early repayment fees waived in full.

Customers who meet certain conditions — including keeping cumulative overdue days within 60 after the loan is disbursed — will receive a reduction of up to 1.5 percentage points on their guarantee fee rate.

The bank previously launched its "IBK Good Rate Inclusive Loan," which applies a flat annual interest rate of 4.9 percent for mid- to low-credit borrowers.