What is a Hana Bank Subscription Secured Loan?

Hana Bank's Subscription Secured Loan is a useful loan product for customers who need urgent funds, using their deposits held at Hana Bank as collateral. Many customers prefer this product because it allows them to receive a loan without having to break their fixed deposits. Today, we will delve into the loan limits, interest rates, required documents, and repayment methods for Hana Bank's Subscription Secured Loans.

Eligibility and Conditions for Subscription Secured Loans

The eligibility criteria for applying for a Hana Bank Subscription Secured Loan are as follows:

• Individuals with a deposit account at Hana Bank, or those who can provide a deposit held under a third party's name as collateral.
• Please note that for loan applications made through electronic banking, only deposits in your own name can be used as collateral.

The types of deposits that can be used as collateral include new deposits, savings accounts, and installment savings. The collateral amount will be set at 110% of the loan principal. Please be aware that money trust products cannot be used as collateral.

Loan Limits and Interest Rate Information

The loan limit for a Hana Bank Subscription Secured Loan is up to 95% of the deposited amount. For loans applied through electronic banking, the loan amount can range from a minimum of KRW 100,000 to a maximum of KRW 100 million per person. However, for loans exceeding KRW 100 million, you will need to visit a branch, so it's advisable to prepare in advance.

The loan interest rate is calculated by adding 1.7% to the 1-year financial bond rate. If you apply through electronic banking, an additional 1.2% discount will be applied. Please make sure to check these interest rate details before applying for a loan.

Repayment Methods and Important Notes

The repayment method for Hana Bank's Subscription Secured Loans is lump-sum repayment at maturity, processed as either a lump-sum loan or a passbook loan. If you apply through electronic banking, please note that agreements can only be made with registered accounts, so check this in advance.

While there are no early repayment fees, a stamp duty will be incurred as a loan-related cost. The stamp duty varies depending on the loan amount, and it is shared equally, with the bank and the customer each bearing 50%.

Important considerations when taking out a loan include the possibility of loan denial based on your credit score, and the fact that excessive borrowing relative to your repayment capacity can affect your credit score. In case of overdue principal and interest payments, you may be obligated to repay the entire principal and interest.

For More Details, Check Our Official Channels

For more detailed information about Hana Bank's Subscription Secured Loans, please visit Hana Bank's official website or contact their customer center. Refer to the product description for detailed information about the loan product, and visiting a branch for a consultation is also a good option if needed. We hope this information is helpful for your financial planning.