Today, we’re going to take some time to find out about the terms of Woori Bank’s emergency loan that can be used as an emergency loan. I have the advantage that emergency loans have a relatively low limit and are easier to review than regular credit loans, so I hope you will read my article today and be of great help.
Woori Bank’s Emergency Loan “Our Emergency Loan”
Nowadays, as the convenience and practicality of non-face-to-face services are emphasized, not only the financial sector but also the overall programs of society are changing the system to face-to-face. At the same time, we have a world where we can get loans with just one cell phone, and Woori Bank’s emergency loans are also very convenient because we can apply and execute them with our cell phones.
Also, as mentioned above, the maximum limit for emergency loans is KRW 3 million, so legally, small loans do not need to be screened separately. Therefore, housewives, college students, freelancers, and unemployed people, who are relatively underprivileged in the financial sector, can also use it comfortably.
Woori Bank’s eligibility for emergency loans
1. Calculate communication ratings
Woori Bank’s emergency loan is a loan that can be received using communication information. Therefore, they don’t measure the size of their income, regardless of whether they have a job or not. This is because the telecommunications company uses the information it has to calculate the credit. You should be using the three representative companies (SK, LG U+, and KT).
2. Credit rating
Although it is a loan that is evaluated using telecommunication grade, you can view external credit rating, but the basic credit rating should be between 1st and 6th grade. The communication grade here refers to the rating made by the three companies as an indicator to evaluate individual creditworthiness by using the information they have. However, even if they satisfy the communication and credit ratings, they may be eliminated after internal evaluation.
Woori Bank’s Emergency Loan Conditions
1. Loan limit
Our bank’s emergency loan limit is up to 3 million won. As I said earlier, the maximum limit for emergency loans is 3 million won. This applies equally to any financial company. It’s how different limits apply depending on the individual’s creditworthiness.
2. Loan Interest Rate
The loan rate will be applied at 0.19% per annum as of December 17, 2020. But the calculation method is calculated as [basic rate] + [additional rate] – [preferential rate]. The additional interest rate is determined through the personal credit rating system within Woori Bank.
3. Preferential interest rate
The preferential interest rate can also be applied, and if all preferential interest rates are applied, preferential treatment of up to 0.5%P per year is possible. The application criteria are as follows.
– Grade 1 – 2 after calculating communication grade: 0.5%P per year
– Grade 3 – 5 after calculating communication grade: 0.3% P per year
As you can see by looking at Woori Bank’s emergency loan conditions, it belongs to a credit loan because it is a product without a security setting.
4. Loan repayment method and period
In the case of our emergency loan, it can 비대면 폰테크 be used as a negative account, so you can pay interest on the settlement date set by the bank every month. Based on the third Saturday of every month, it is automatically withdrawn from the debtor’s designated account the next day.
The service period is based on a maximum of one year, and whether to extend it or not will be decided through the review by Woori Bank, not automatic extension.
5. Reimbursement Fee
In the case of Woori Bank’s last prepayment fee, it is a product that is used as a negative account, so if you have a lump sum of money, you can repay it freely. However, if the interest paid for the remaining days of the loan is cheaper than the prepayment fee, you don’t have to pay it back first, but you have to make a careful decision after thoroughly calculating it.
Woori Bank’s Emergency Loan Rejection Plan
If our use of emergency loans is rejected, it is also a good idea to receive emergency loans from other financial institutions. Kakao Bank, which has recently been in the spotlight for its mobile loans, is also convenient to apply, but I emphasize it repeatedly, but the important thing is that when looking for loans, it should be identified in order of 1 Financial > Private Finance.