Product Overview

Product Features

Loan product for customers who provide general property other than residential homes as mortgage

Contract Period

• Bullet repayment (including limit trading) within 1 year (within 3 years if long-term funds are required)
• Installment repayment within 5 years

Interest Calculation Method

Choice of fixed rate or variable rate (KORIBOR)

(As of 2020.11.05, annually, loan period 1 year, loan amount 300 million won, based on payment at maturity)

Fixed interest rate
Minimum annual 2.54% ~ Maximum annual 2.74%
[Standard interest rate (0.91% based on KORIBOR December) + additional interest rate (1.83%)-Reduction interest rate (0%~0.2%)]

Variable rate
Minimum annual 2.35% ~ Maximum annual 2.55%
[Standard interest rate (0.64% based on KORIBOR March) + additional interest rate (1.91)-Reduction interest rate (0%~0.2%)]

Up to 0.2%p preferential interest rate provided depending on the interest rate special agreement (subject to change in the future)
- Refer to attached special agreement

Loan interest rate is subject to change depending on the market interest rate (KORIBOR, etc.) and loan conditions, period and amount after the calculation date.

Additional 0.5%p for occasional repayment (minus loan)

Notation for calculating interest
(ex. 365 days a year (366 days for a leap year) and calculated in daily increments)

Notice

• The lending rate can be changed later depending on the market interest rate and loan terms (period, amount) after the calculation date.
• 0.5% of the applicable interest rate added in case of a frequent loan

Product Benefits and Additional Service

Conditions and content explained when additional benefits are given

Loan Information

Loan Limit

(Real estate price X percentage of guarantees by region) within range

Loan Subject

Customers who provide a general property as mortgage

Mortgage

Mortgage Offer Method: Establishment of the right to mortgage security

Mortgage Offer Feasibility

Repayment Method

Bullet repayment method / Principal (and interest) equal installment repayment

Early Repayment Charge

Repayment amount X rate X [3 years - number of loan duration days] / 3 years]
* Rate: Fixed rate 0.8%, variable rate 0.5%

Additional Costs

• The following are the costs borne by the customer when handling new loans.
  • ① Stamp Duty: According to the "Stamp Act", as tax paid at loan agreement, tax will be applied differently according to the amount of the loan, and the bank and the customer will pay 50% each.
  • ② When establishing the right to mortgage security: The customer will be responsible for the discounted cost related to the purchase of the national housing bond. (However, the exact cost will be confirmed on the date of execution of the loan)
• The following are the costs borne by the customer while using the loan.
  • The customer is responsible for the reduction cost of the maximum bond amount of mortgage
• The following are the costs borne by the customer when repaying the loan.
  • The customer is responsible for the cancellation cost of mortgage security.

Required Documents

• Mortgage offer real estate certified copy of the registry
• Registration certificate
• Certificate of seal of the mortgage provider and person's signature confirmation certificate
• Proof of income, document of employment
• Identification, etc.

Overdue Interest

An overdue interest of 3% per annum is added and applied to the loan interest rate, but the maximum delay compensation rate is 11%.

Interest rate reduction request

Possible

Notice

• The above information is subject to change without prior notice, and in accordance with the IBK credit regulations and related laws, loan may be refused to those who are specified as subject to credit management of a financial institution or delinquent. Overdue interest will be added if the loan principal payment is delayed or the principal is not repaid by the due date.
• For more information on individual products, please contact a bank branch or the IBK Customer Center (1588-2566).
• In the event of any disputes relating to banking transactions, you can request resolution at the dispute settlement organization of IBK or apply for dispute mediation through the Financial Disputes Mediation Committee, etc.
  (Financial Supervisory Service: 1332 without area code, IBK: 080-800-0119)
• IBK does not accept money, valuables or entertainment. Please report any violation of ethical management or improvement that is needed.
  
  Phone: 02-729-7490
  e-Mail: ibkethics@ibk.co.kr