Photo : YONHAP News
As private investors rush to buy shares amid a bull market, major banks have begun tightening regulations on unsecured loans to mitigate excessive leverage.
According to sources in the financial sector, Hana Bank will cap the maximum unsecured loan amount for high-income earners at 100 million won.
The bank plans to enforce this cap on new unsecured loans regardless of the borrower’s annual income. It will also implement stricter reductions of unused credit limits when extending overdraft accounts.
Shinhan Bank also plans to tighten its unsecured loan policies starting June 15. If the combined daily volume of both face-to-face and online unsecured loans exceeds internal control thresholds, Shinhan Bank will restrict non-face-to-face unsecured loan applications.
Nonghyup Bank will reduce its preferential rates by zero-point-two percentage point for mortgage loans and zero-point-one percentage point for unsecured loans, starting next week.
Earlier, Woori Bank announced that it had suspended applications for non-face-to-face unsecured loan refinancing products as of the previous day and would block all unsecured loan applications submitted through loan comparison platforms such as Kakao Pay, Naver Pay, Finda and Toss.