KB Kookmin Card announced around the end of last month the introduction of a mid-range interest rate credit card loan with an annual interest rate around 10 percent under the name of “Deun, Deun, Livelihood Loan.”
The Deun, Deun, Livelihood Loan is provided to the borrowers whose credit conditions were checked via the credit information and relevant data provided big Big Data to make the credit checks more detailed than those for general borrowers and therefore charging tahe lower interest rates, which range from 7.5 percent to 14.91 percent per annum.
The new loan product can provide a loan of 20 million won with a maximum repayment period of 24 months. The maximum grace period is three months. The loans should be repaid in equal monthly installments and interest will be charged on the outstanding amount of the loans, not on the installment to be repaid. The credit card company said there will be no fees charged, including those for an early repayment of the loan.
Officials of the credit card company said the special loan product is intended to spur support for the general public in line with KB Kookmin Card’s slogan, “Partner of the Happy Livelihood of the People.” The loan product is also part of the credit card company’s strategy to expand the financial market for mid range interest loans and a preemptive move by the company to cope with the emergence of Internet banks and other changes in the financial market.
The application for the loan can be made at 1588-1688 or at KB Kookmin Card branches, on KB Kookmin Card’s home page and Mobile Apps without submit
KB Kookmin Card, Co., Ltd. engages in the issuance of credit cards primarily in South Korea. It also provides revolving payments, cash services, card loans, installment, and other services. It serves individuals, enterprises and merchants.
The company was founded in 1987 and is headquartered in Seoul.
KB Kookmin Card, Co., Ltd. operates as a subsidiary of KB Financial Group.
Aspiring toward becoming an international leader of Finance, particularly in Asia, KB Financial Group has launched a phase-by-phase management strategy. First, until 2016, the Group will continue to consolidate the basis for becoming a global leader of finance, developing and honing its key strengths and distinction in core areas of business and enhancing the stability of its business operations.
Based on analyses of its management environment, the Group has identified four overarching strategy aims strengthening the basis for growth, reinforcing risk management, enhancing business capability and productivity, and strengthening future growth potentials as well as 15 core tasks. The Group will regain and consolidate its leadership over the financial market in Korea by 2019 with significant returns on its assets and investment portfolios, and thereby will become ready to predominate the Asian Financial market by 2022.
The KB Financial Group is committed to becoming a “financial group of the people" that returns the love it receives from the people with hope. The Group is therefore sharing love and hope with the underprivileged through all corners of society
In particular, it continuously supports the education and cultural activities of the "youth" so that they may realize their dreams with hope as the future protagonists of our society. It is thus contributing to their growth into healthy members of society.
