NH Nonghyup Bank will stop selling 50-year mortgage loans, which the financial authorities cited as one of the factors contributing to the increase in household메이저사이트 loans. Nonghyup Bank was the first among large banks to release a 50-year maturity bond on July 5, because the limit of 2 trillion won is expected to be exhausted.
According to the financial sector on the 18th, Nonghyup Bank will only sell ‘Fixed Rate Mortgage Loan (50-year mixed type)’, a 50-year maturity product, only until the end of this month.
As a result of Nonghyup Bank’s own monitoring, it was analyzed that the limit of 2 trillion won would be exhausted within two months after the release on the 5th of last month. It is the first among the five major banks to offer a 50-year bond, and it is interpreted that consumers flocked to it because the interest rate was relatively low.
Nonghyup Bank launched a 50-year maturity product on the 5th of last month to ease the financial burden of consumers and increase the low fixed interest rate. The Financial Supervisory Service has continuously ordered banks to increase the portion of fixed rate products, saying that floating rate products add excessive interest burden to borrowers during interest rate hikes. According to the Bank of Korea, as of June, based on the balance of domestic deposit banks, the proportion of fixed rate and floating rate accounts for 39.7% and 60.3%, respectively.
Nonghyup Bank set the 50-year limit on the fixed interest rate at 2 trillion won to achieve its own fixed rate target. From the 10th to the 16th, 196.5 billion won was sold for a week, with more consumers than expected, and it is expected that the limit will be exhausted by the end of this month. Low interest rates also contributed to its success. As of the previous day, Nonghyup Bank’s lower end of the loan rate was the lowest at 3.96% among the five major banks’ fixed-type loan rates.
The 50-year maturity bond was popular because it reduced the burden of monthly principal and interest payments. In addition, the borrowing limit is also increased. Of the total amount of new loans handled by Suhyup, Nonghyup, Kookmin, and Hana Bank, which launched 50-year bond bonds before August, the number of new bonds with a maturity of 50 years accounted for 16.4% and the amount reached 38.2%.
An official from Nonghyup Bank explained, “Even if the limit of 2 trillion won is exceeded, loans will be issued until the 31st.”
Meanwhile, other than Nonghyup Bank, Kookmin, Hana, Shinhan, Woori, Enterprise, Busan, Daegu, Gyeongnam, Suhyup, and Kakao Bank, which operate 50-year-old products, announced that they do not set a separate total limit for 50-year-old products. .