Industrial Bank of Korea

IBK, your financial partner
for a better future.


Product summary
Product characteristics
Loan products for customers who provide the general real estate excluding housing as collateral.
Contract period
  • Within one year of lump sum repayment (including limit transactions) (within three years if long-term funds are needed)
  • Within 5 years of installment repayment.
Interest calculation method
  • Choose between Fixed or Variable Rate (KORIBOR)
    *(As of Dec 8, 2023, annual unit, loan period of one year, loan amount of 100 million won, maturity date repayment standard)
  • Fixed interest rate 5.29% ~ 5.75% per year
    [Standard interest rate (KORIBOR 12 months base 3.86% + additional interest rate (1.63%~1.89%) - reduced interest rate (0~0.2%)]
  • Variable interest rate 5.41% ~ 5.87% per year
    [Standard interest rate (KORIBOR 3 months base, 3.95%) + additional interest rate (1.66%~1.92%) - reduced interest rate (0~0.2%)]
  • Loan interest rates can partially change depending on market interest rates (KORIBOR, etc.) and loan conditions, period, and amount after the calculation date.
  • Add 0.5%p for occasional repayment (minus loan)
  • A notation that calculates interest
    (e.g., Calculated on a daily basis with 1 year as 365 days (366 days for leap year).
  • Loan interest rates can change later depending on market interest rates and loan conditions (period, amount) after the calculation date.
  • If the payment of the loan principal and interest is delayed for a certain period of time or the expiration date has elapsed, it may be registered as a credit management target along with the imposition of overdue interest.
  • In the case of frequent loans, 0.5% of the applied interest rate is added.
Product benefits and additional services
In case additional benefits are given, conditions and contents are guided.
Loan Information
Loan Limit
Within the scope of (real estate market price X regional security recognition ratio)(MAX 70%)
Loan target
Customers who provide general real estate as collateral.
Method of providing collateral: Establishing the right to collateral security.
Repayment method
Expiration lump sum repayment method / principal(interest) equal installment repayment
Early repayment cancellation fee
  • Fixed-rate loans: repayment amount × 0.8% × (remaining days ÷ loan days),
  • Variable interest rate loans: repayment amount × 0.5% × (remaining days ÷ loan days),
    * If the number of days of loan exceeds 3 years, it is considered 3 years
Additional expenses
  • The cost that the customer has to pay for the new loan is as follows.
    • ① Stamp tax: The tax paid at the time of loan agreement pursuant to the "Stamp Tax Act" is applied differently depending on the loan amount, and banks and customers pay 50% each.
    • ② When establishing the right to collateral security: Discount costs related to the purchase of the national housing bonds are borne by the customer. (However, the exact cost is determined on the date of loan execution)
  • The cost that the customer has to pay while using the loan is as follows.
    • The cost of reducing the maximum amount of bonds in the right to collateral security is borne by the customer.
  • The cost that the customer must pay at the repaying the loan is as follows.
    • The cost of canceling the right to collateral security is borne by the customer.
Necessary documents
  • Certificate of all real estate registration matters provided as collateral
  • Certificate of right to register
  • Security provider’s certificate of seal impression and certificate of principal signature
  • Certificates of employment and income
  • ID card, etc.
Delayed interest (delay compensation)
The loan interest rate is applied by adding 3% per annum of overdue calculation rate, but the maximum delayed compensation rate is 11% per annum.
Right to request the interest rate cut
Interest payment (imposition) cycle
Interest is paid every certain cycle (monthly, etc.) by setting the interest payment date.
  • The loan status and limit are determined according to your credit rating and our current screening criteria.
  • Loans may be restricted to customers subject to the credit information management of financial institutions and those who are ineligible for our current loan.
  • For more information, please contact the IBK Customer Center 1588-2588 or the near branch of the Industrial Bank of Korea.
  • Additional costs may be incurred depending on the amount and type of product.
  • If the loan is excessive compared to the repayment ability, your personal credit rating may fall.
  • A fall in personal credit ratings can lead to disadvantages related to financial transactions.
  • If the principal and interest of the loan are overdue for a certain period of time, the obligation to pay all principal and interest may occur.
  • Loans may be restricted if the handling of loans is inappropriate (holding arrears, low personal credit ratings, etc.).
  • Loan conditions apply differently depending on the collateral and type of collateral, and loans may be restricted if the collateral is inappropriate.
  • Please check the product manual and the terms and conditions before signing the contract related to financial products.
  • General financial consumers have the right to receive a sufficient explanation from IBK Industrial Bank of Korea pursuant to Article 19 (1) of the Financial Consumer Protection Act. Please understand the explanation before trading.
Compliance Officer Review:
No.2023-6148 (Dec 19, 2023)
Validity period:
Dec 19, 2023 to Dec 18, 2024.
As of Dec 8, 2023.