[이데일리 노희준 기자] Woori Bank has decided not to sell some household loan products, such as housing mortgage loans and jeonse loans with relatively low interest rates, until November. In a situation where the total amount of household loans had to be managed, the demand for loans was concentrated, so it was limited.
On the 13th, Woori Bank announced the application of the new balance co-fix (financing cost index) to all household real estate financial products, including non-face-to-face products, from the 15th through the ‘Guide to Changes in the Base Rate Management Standard for Household Real Estate Financial Products’ on its website on the 13th. It said it would be temporarily restricted until the 30th of the month. The new balance Cofix is the lowest interest rate among the four Cofix rates used by banks as the base rate for floating rate mortgage loans.
According to the latest data announced by the Federation of Banks on the 17th of last month, the new balance-based co-fix was 0.81%, which was higher than the new transaction-based co-fix (0.95%), the balance-based co-fix (1.02%), and the short-term co-fix (0.90%). 0.17 percentage points lower. The bank attaches a certain margin (additional interest rate) to the base rate, such as the Cofix rate, and then sets the loan rate. As demand for loan products with relatively low base rates grew, the bank began to limit the total amount of household loans.
From the point of view of borrowers who borrow money, the use of loan products with low base rates is restricted, which has the effect of raising interest rates on products to which this measure applies. This means that the interest burden will increase.
This measure will be applied to applications for approval of new or increased loans after the 15th. Target products include △ Woori Apartment Loan △ Woori Real Estate Loan △ My Style Mortgage Loan △ Woori WON Housing Loan △ Low-rise Housing Improvement Loan in Seoul △ Woori Green Remodeling Loan △ Woori Wellrich Interior Loan △ iTouch Jeonse Loan △ Woori Smart Jeonse Loan △ Woori WON Jeonse Loan △ Woori Jeonse Loan △ Woori Jeonse Loan Jeonse Secure Loan, etc. However, when using a fixed mixed interest rate, the new balance cofix can be selected after the fixed interest rate period.
In addition, Woori Bank decided to restrict the application of the new balance co-fix until the end of November for two of its credit loan products: Woori New Hope Spore Loan and Woori Dream Car Loan.
An official from Woori Bank said, “The interest rate on COPIX loan products based on new balance is lower than that of other banks, and the interest rate is lower than other COPIX standard products even within the bank.