CKI, Launching Long-term Fixed-rate Mortgage for Up to 30 Years
Interest rates of Citi long-term fixed-rate mortgage loan will be the same throughout a loan period at annual 4.9% for 10 year products and annual 5% for 20 and 30 year loans as of the launching date.
Collateral will be limited to apartments and houses worth KRW 900 million or below while up to 70% of appraisal value will be provided as loans under maximum credit limit of KRW 500 million. Early payoff fee of 1.5% will be exempted when 3 years pass.
An official from CKI said that the Bank developed a long-term fixed-rate mortgage product at relatively lower interest rates with Korea Housing Finance Corporation (KHFC) and will launch it to align with the government policy stance aiming to improve financial customers’ right to choose and to reduce household debt risk.
The new product is a securitized loan product that has a structure where CKI extends loans and KHFC issues MBS by purchasing the loan obligations.
More details can be found at www.citibank.co.kr, 1588-5753 or CKI branch.
Website: http://www.citibank.co.kr
Contact
Shin, Hyeon Jeong
Communication Dept.
Citibank Korea Inc.
+82-2-3455-2330
This news is a press release provided by Citibank Korea Inc.. Korea Newswire follows these editorial guidelines.
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5월 16일 16:15