Mortgage
Didimdol Loan
Interest Rate
Date of public announcement :
01 October, 2022
※ Fixed Rates
(% per annum)
|
Income level (Sum of income of borrower and his/her spouse) |
Interest rate by maturity(%) | |||
|---|---|---|---|---|
| 10 years | 15 years | 20 years | 30 years | |
| Less than KRW 20 million | 2.15 | 2.25 | 2.35 | 2.40 |
| KRW 20~40 million | 2.50 | 2.60 | 2.70 | 2.75 |
|
KRW 40~60* million *for newlyweds,household with two or more children,first-time home buyers,the income limit is of KRW 70 million |
2.75 | 2.85 | 2.95 | 3.00 |
- Prime rate: 0.7%p discount to a household with three or more children, 0.5%p discount to a household with two children or a single-parent family(earning less than KRW 60 millions), 0.3%p discount to a household with a child, 0.2%p discount to multi-cultural family, family with a disabled member, newlyweds, and first-time home buyer
- only one discount shall apply, dual application not permitted(except for children disscount)
- If the borrower becomes eligible for the prime rate in the course of the loan period, the prime rate shall apply.
-
For newlyweds who purchase a house for the first time, rates in the below table are applied.
생애최초로 주택을 구입하는 신혼가구의 금리적용 표 Income level
(Sum of income of borrower and his/her spouse)Interest rate by maturity(%) 10 years 15 years 20 years 30 years Less than KRW 20 million 1.85 1.95 2.05 2.10 KRW 20~40 million 2.20 2.30 2.40 2.45 KRW 40~60* million
*for newlyweds,household with two or more children,first-time home buyers,the income limit is of KRW 70 million2.45 2.55 2.65 2.70 - When the final rate for the first-time homebuyer newlyweds is less than 1.2%, 1.2% of rate is applied.
- Prime rates cannot be doubly applied, except prime rates for subscription deposit, electronic real estate contract, households with multiple children, two children and a child.
- If the penalty on late payment (overdue interest rate) exceeds 10% p.a., 10% p.a. shall apply.
Penalty on late payment (overdue interest rate)
Variable depending on time elapsed from the date of delinquency to the date of late payment
(% per annum)
| Type | Penalty for late payment | |
|---|---|---|
| Before applying the acceleration clause | Overdue for up to 3 months | Apply interest rate + 4% p.a. to the overdue principal and interest payment |
| Overdue for more than 3 months | Apply interest rate +5% p.a. to the overdue principal and interest payment | |
| After applying the acceleration clause | Up to 3 months from acceleration | Apply interest rate + 4% p.a. to total outstanding balance |
| More than 3 months from acceleration | Apply interest rate + 5% p.a. to total outstanding balance | |