SC First Bank announced on the 17th that it will reduce the preferential interest rate for housing mortgage loans approved by branch managers by 0.25 percentage points starting on the 18th. If the preferential interest rate is reduced, it will have the effect of increasing the loan interest rate.
In addition, SC First Bank will shorten the maturity of housing mortgage loans from the current maximum of 50 years to 30 years starting on the 18th. When the maturity of the housing mortgage loans decreases, it will result in a reduction of the loan limit according to the total debt service ratio (DSR) regulations.
Earlier, the Financial Supervisory Service summoned deputy bank managers in charge of household loans on the 16th to urge management of the increase in household loans.