신한저축은행 참신한대출 신청방법The World Seen Through Cards
In these times of economic difficulties, many people are looking for bank loans. However, there are so many loan products that it is difficult to know which one to choose.
Today, we will take a closer look at the Shinhan 500 loan product launched by Shinhan Savings Bank. Shinhan 500 is a useful product for borrowing small amounts of money because its screening criteria are relatively easy.
To receive the Shinhan 500 loan, you must meet several conditions. First, you must be a Korean citizen aged 30 or older. Second, your personal credit score given by the credit rating agency NICE must be 590 or higher. Third, your annual income estimated by a credit information company must be at least 12 million won, but college (graduate) students are excluded from this condition.
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You may be curious about the annual income estimated by the credit information company. This is the income amount calculated based on the individual’s current health insurance premium, national pension, and credit card usage history. It may be slightly different from your actual income, but if you are using a credit card, it will be easy to meet the estimated income requirement of 12 million won or more.
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It is very convenient to apply for a Shinsinhan 500 loan.
You can easily check and apply through the Internet or mobile banking. You can apply anywhere, anytime, as long as you verify your identity.
The documents required when applying for a loan are your ID and proof of income.
For wage earners, you only need to prepare a withholding tax receipt for wage income, and for business owners, you need to prepare a business registration certificate and proof of income. If there are any special circumstances, the bank will directly request additional documents.
The loan limit for Shinsinhan 500 is from a minimum of 1 million won to a maximum of 5 million won.
The loan interest rate is determined by adding the base rate and the additional rate. The base rate is the weighted average interest rate for new regular deposits in the previous half year, and the additional rate is applied differentially according to the bank’s internal standards. The loan interest rate is generally 11.9% to 19.9% per annum.
The loan is repaid in equal installments of principal and interest. Starting from the day after the contract date, the principal and interest must be repaid monthly together. The loan period can be selected from a minimum of 1 year to a maximum of 3 years. Extension of the contract period is not possible, but early repayment is possible at any time as there is no early repayment fee.
Mr. A (32 years old, office worker) has been experiencing financial difficulties recently. He needed urgent living expenses, but it was difficult to get a loan from a first-tier financial institution. Then, he learned about Shinhan Savings Bank’s Shinshinhan 500 product, and was approved for a limit of 3 million won based on his credit rating and annual income. The loan interest rate was somewhat high at 15% per annum, but he was able to resolve the difficulties well by repaying the principal and interest in equal installments over a 2-year term.
Shinshinhan 500 is a perfect temporary small-sum loan product because the screening criteria are not strict and it is easy to apply for. However, since the interest rate is high, it is better to repay in a short period of time rather than a long-term loan. Also, since personal credit is comprehensively considered during the consultation process, it is possible that it may be rejected. Overall, it seems to be a useful product for those who need a convenient small loan.
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A world seen through a card
