From next month, commercial banks’ credit loan ‘limit within annual salary’ will be lifted

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From next month, you will be able to get more credit than your annual income from major commercial banks.

According to the financial industry today (23rd), KB Kookmin Bank, Shinhan Bank, NH Nonghyup Bank, and K-Bank decided to remove the rule that limits the maximum credit loan limit to within the borrower’s annual salary as of the 1st of next month.

KB Kookmin Bank plans to provide credit loans up to twice the maximum annual salary based on credit rating and income.

NH Nonghyup Bank also changed the limit of personal credit loans from 10 to 100% to 30 to 270%. Depending on the borrower, you can get a credit loan up to 2.7 times your annual salary.

Nonghyup Bank also raised the credit loan limit for individual business owners to 305% of their annual salary. However, personal credit loans and SOHO credit loans cannot exceed KRW 250 million and KRW 160 million, respectively.

Shinhan Bank is also planning to abolish the regulation that limits the salary to less than the annual salary from next month. However, the exact limit has not yet been determined.

In August of last year, the financial authorities requested that the limit of personal credit loans be reduced to the level of annual income, and commercial banks sequentially applied the guidelines.

Then, in December of last year, the Financial Services Commission set the effective period of the financial administrative guidance to limit credit loans to within annual income until June 30 of this year.

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As the rule is not extended, you will be able to receive a credit loan limited to your annual salary from next month.

[사진 출처 : 연합뉴스]

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