[Provided by Kakao Bank]
[Provided by Kakao Bank]

Kakao Bank said Monday it will offer preferential interest rates of 0.3 to 0.5 percentage points to customers who search for and take out loans from partner financial institutions through its credit loan comparison service.

The preferential rate event runs through Sept. 30 and includes 28 financial firms — among them regional banks, savings banks and capital companies.

Kakao Bank has been offering the preferential rate benefit to credit loan comparison users alongside its partner institutions since April. Over the past three months, the benefit was applied to 60,000 loans, with total annual interest savings estimated at 2 billion won ($1.4 million).

Through the credit loan comparison service on the Kakao Bank app, customers can compare loan terms from multiple financial institutions at once. When they select a product from a participating partner that offers a preferential rate, the discount is applied automatically — no separate application required.

The event works by having Kakao Bank reduce the platform fees charged to partner institutions, enabling them to pass lower interest rates on to customers. The bank expects the initiative to provide meaningful relief to mid- and low-credit borrowers, who tend to carry a heavier interest burden.

Kakao Bank is also advancing inclusive finance through its lending platform by setting brokerage fees for government-backed products such as Haetsal-lon — loans for low-income borrowers — lower than those for standard credit loans.

"We have been offering preferential rate benefits since April to help customers reduce their borrowing costs, going beyond simply comparing loan products," a Kakao Bank official said. "We will continue working with our partner institutions to expand customer choice and find ways to lower the interest burden for financial consumers, including those with mid-to-low credit ratings."

Kakao Bank also operates a loan comparison service covering products from 72 partner institutions, including overdraft accounts, Haetsal-lon and Saehimanghollssi loans, and offers exclusive preferential rates available only through Kakao Bank.


won@heraldcorp.com