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- Overdue of loan principal or interest payment shall result overdue interest and it may cause legal disadvantages for your deposit or other assets.
- Loan charges such as credit rating Fees, appraisal Fees, mortgage setup Fees etc may be applied to certain loan products.
For loan customers
Please check bank loan transaction policy, corresponding loan contract and mortgage related contract and receive loan agreement (including of loan agreement and contract).
For mortgage collateral or joint liability on guarantee
Please fill in borrower name, amount (maximum loan amount, guarantee amount), collateral security (guarantee) period, guarantee range etc with own writing (without empty field) for collateral security agreement or joint liability agreement.
There are 2 types of guarantee agreement, "Specific loan mortgage (guarantee)" and "Variable mortgage (guarantee)".
- Specific loan mortgage (guarantee): Borrower provides mortgage (guarantee) for specific loan.
When the loan is postponed, refinanced or replaced with other loan, there is no responsibility of guarantee. - Variable mortgage (guarantee): Guarantee for current and future loans within the guarantee amount. There are three types as follow.
- Specific variable mortgage (guarantee): Guarantee from specific loan agreement
(ex: xx year xx month loan agreement) to future loans. When the loan is postponed, there is responsibility of guarantee. But when the loan is refinanced or replaced with other loan, there is no responsibility of guarantee.
Cautions for loan service
Please make sure to check basic bank loan agreement (for household), corresponding loan agreement and receive a copy of the agreement.
As we provide various loan products, please visit nearest branch to have consultation with loan specialist for optimized loans.
Interest rate
Interest rate depends on individual’s transaction history contribution and credit rating. Transaction history contributions are scored by is existing loan amount, transaction period, numbers of automatic transfer, credit card or foreign currency history. Credit rating is scored by collateral, occupation grade, personal credit evaluation table. According to total of the scores, the interest rate is determined.
Minus loan
Loan amount is indicated as minus value on passbook. Withdrawal is available for the amount of credit line and payment can be made freely by depositing into the account to reduce loan amount. Therefore as loan payment can be made freely, interest is reduced accordingly.
Early payoff Fees
When early loan payoff contract is made with Woori bank and the loan is paid off early, agreed early payoff Fees must be paid.
Additional charges
According to stamp tax law, certain amount of stamp Fees is charged. For loans less than 20M won, the stamp Fees is exempt but loan amount more than 20M won is subject to stamp Fees according to the amount. For mortgage on real estates, equal to 2/1,000 of mortgage amount is subject to registration tax and equal to 20/100 of registration tax amount is subject to educational tax. Also fire insurance Fees of the mortgage is charged.
Loan according to transaction history
Qualified customers must have 3 month or more transaction history with Woori bank and have Woori bank credit card or at least one automatic transfer. According to transaction history, up to 10M won credit line is granted to the account.
