What is Woori Bank's Woori Smart Jeonse Loan?

Woori Bank's Woori Smart Jeonse Loan is a loan product offered through Seoul Guarantee Insurance, providing a convenient option for applying and executing the loan entirely online. This loan product targets apartments based on KB Real Estate market prices and can assist with your rental deposit through a housing lease agreement.

What are the Eligibility Requirements?

To be eligible for the Woori Smart Jeonse Loan, you must meet several criteria. The following conditions apply to all applicants:

• Head of household or a household member who has signed a new housing lease agreement through a real estate agency.
• Must have paid at least 5% of the rental deposit.
• Currently employed for at least 3 months (employment duration verified based on National Health Insurance employment status).
• Must be a non-homeowner (for married individuals, this applies to both spouses combined).

What are the Loan Limits and Interest Rates?

The Woori Bank Woori Smart Jeonse Loan offers a maximum loan amount of 500 million KRW, with loans available up to 80% of the rental deposit stated in the lease agreement. Additionally, the loan amount is determined by the financial cost burden ratio, which considers your annual income and debt amount. The loan term can be set from 1 year up to 2 years, within the lease agreement's expiration date, and is repaid through a lump-sum payment at maturity.

Points to Note When Applying for the Loan

There are a few important points to consider when applying for the loan. Firstly, the loan funds will be directly deposited into the landlord's account, so prior consultation with the landlord is necessary. If there are any changes to your personal information after loan approval, the loan execution may be hindered, and the customer must proceed with the loan execution themselves. Furthermore, according to housing market stabilization measures, extensions may not be possible for those holding two or more homes, and you may be required to repay the loan.

Loan-Related Costs and Documents?

To obtain the Woori Bank Woori Smart Jeonse Loan, several documents are required. The necessary documents include:

• Lease agreement with a confirmed date (Jeonse contract)
• Down payment receipt
• Income/Employment verification documents (e.g., National Health Insurance Service eligibility confirmation)
• Resident registration copy, family relationship certificate, etc.

Loan-related costs include stamp duty and pledge notification fees. The stamp duty is shared equally (50% each) between the bank and the customer. Please also note that the pledge notification fee must be borne by the customer.

Woori Bank's Woori Smart Jeonse Loan offers various benefits, so those considering a loan are encouraged to check the detailed information on the Woori Bank customer center or website. Make a smart choice for a better living environment with the Woori Smart Jeonse Loan!