Written by 11:35 AM Economics

Interest rates on loans are going up again… This time, it’s Shinhan Bank.


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, ‘Shinhan Bank has decided to raise its mortgage loan interest rates by 0.1 to 0.3 percentage points starting on the 29th.’,
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, ‘The rate increase will be 0.2 percentage points for general mortgage loans, and 0.2 to 0.3 percentage points for refinancing loans from other banks (based on a 5-year financial bond rate increase of 0.2 percentage points and a KORIBOR balance of 0.3 percentage points).’,
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, ‘Interest rates for jeonse funds loans will also be adjusted upwards by 0.1 to 0.2 percentage points depending on the guarantee agency.’,
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, ‘Shinhan Bank raised the bank bond rates for 3-year and 5-year terms by 0.05 percentage points on the 15th and 22nd, and just 7 days later, the rates are going up again on the 29th.’,
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, ‘A Shinhan Bank official explained, “The adjustment of interest rates is in response to market interest rate volatility and for the stable management of household debt.”‘,
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, ‘NH Nonghyup Bank is also raising the interest rates for face-to-face home mortgage loans, with increments of 0.2 percentage points for installment and mixed type products starting from today. The trend of all five major banks gradually increasing loan interest rates by around 0.2 to 0.3 percentage points has been observed this month.’,
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, ‘Banks continue to competitively raise loan interest rates because the increasing trend of household loans associated with rising house prices has not easily been curbed despite pressure from financial authorities.’,

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