Woori Bank Adds 0.3%p Rate Discount for Low-Credit Borrowers under Sae-Hope Hall Credit Loan Program

(Seoul=Yonhap Infomax) Seul Gi Yoon – Woori Bank announced on the 23rd that it has introduced a new preferential interest rate category for low-credit customers of its inclusive finance loan product, "Woori Sae-Hope Hall Credit Loan II," and will further reduce rates to expand financial inclusion.

This policy enhancement follows Woori Financial Group's recently announced "Woori Financial Future Co-Growth Project" aimed at broadening inclusive finance initiatives.

Under the revised scheme, customers with a credit rating of 7 or below (based on external credit bureau standards) who utilize the Sae-Hope Hall Credit Loan will receive an additional 0.3 percentage point (p) interest rate discount.

Furthermore, borrowers who make timely repayments without delinquency during the loan period may be eligible for up to an additional 3.0 percentage point rate reduction, depending on Woori Bank's internal credit assessment.

Woori Bank supplied the largest volume of Sae-Hope Hall Credit Loans among commercial banks last year, totaling 637.4 billion won ($489 million). In the first three quarters of this year, the bank has already provided 558.8 billion won ($429 million) in such loans.

Additionally, Woori Financial Savings Bank has launched deposit products targeting financially vulnerable groups and local small business owners, and is expanding inclusive finance through new offerings such as interest rate reductions for diligent borrowers and the launch of the "VitaWON Plus" loan product.

A Woori Bank official stated, "As a follow-up to the 'Woori Financial Future Co-Growth Project,' we have introduced tangible benefits for low-credit and diligent repayment customers," adding, "We are committed to delivering inclusive financial support to vulnerable groups in challenging times."

sgyoon@yna.co.kr

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