무직자 청년대출Sunshine Loan Youth, a loan for unemployed youth, is a government-supported product targeting young people under the age of 34 and is intended to help young people focus on employment and studies. This is a product that is in demand among many young people as it allows for fund management at low interest rates. Let’s find out the details.
It is aimed at young people under the age of 34, job seekers, and those new to society.
However, young people who have a business registration or an annual income exceeding 35 million won are not eligible for a loan.
The maximum limit per person is 12 million won, and the annual maximum limit is 6 million won. Please note that general Sunshine Loans can be reused after repayment, but Sunshine Loans Youth cannot be reused after repayment.
The loan interest rate is a fixed rate of 3.5% per annum. The guarantee fee rate is calculated according to the applicant’s conditions and is between 0.1% and 1%.
These days, it is difficult to find interest rates in the 3% range for credit loans as well as mortgage loans. It can be seen as having the advantage of being able to manage funds at relatively low interest rates.
The loan period is up to 15 years, including the grace period.
You can apply for Sunshine Loan Youth funds for living expenses, medical expenses, housing expenses, and education and training expenses. Please note that it is difficult to obtain a loan for refinancing, etc. There are three branches handling loans: Shinhan Bank, Jeonbuk Bank, and Industrial Bank of Korea.
Since the conditions and preferential items are different for each bank, we recommend that you first consult with your main bank and check the conditions at other banks as well.
We learned about Sunshine Loan Youth, a loan product for unemployed youth. Representative products available to young people include small loan products. Information on small loans can be found in the article on small loans for the unemployed. Please refer to this article.
In addition, we will look into government-supported rental and monthly rent products targeting young people.
It is calculated as the smaller of the following items and is up to 200 million won or 80% of the rental deposit.
The calculation of annual recognized income is as follows.
The loan period is 2 years and can be extended up to 4 times, up to 10 years.
In the case of the Korea Housing and Urban Guarantee Corporation’s deposit relief loan guarantee, the maximum period is 2 years and 1 month, and can be extended 4 times, for a maximum of 10 years and 5 months.
After using for a maximum of 10 years, 2 years are added for each minor child at the time of extension, making it possible to use for a maximum of 20 years.
You can repay the loan by choosing between a lump sum repayment at maturity or an equal installment of principal (interest).
It is calculated as the lesser of the following:
*Please note, however, that the loan limit may be limited to 20 million won or less for those who have been employed for less than 1 year.
The loan period is 2 years and can be extended 4 times, up to a maximum of 10 years.
In the case of the Korea Housing and Urban Guarantee Corporation’s deposit relief loan guarantee, it can be extended four times for a maximum of 2 years and 1 month, up to a maximum of 10 years and 5 months.
After using for a maximum of 10 years, 2 years can be added for each minor child at the time of extension, up to a maximum of 20 years.
Loan repayment is carried out in the form of lump sum repayment at maturity.
Calculated as the lesser of the following items:
*Please note, however, that the loan limit may be limited to 20 million won or less for those who have been employed for less than 1 year.
The loan interest rate is 1.2% per year. However, please keep in mind that the basic interest rate of the support jeonse loan will be applied from the second extension due to failure to meet the loan qualifications or expiration of the 4-year loan period when extending the loan once.
Those who do not qualify for the asset screening cannot proceed with the loan, and additional interest rates will be charged if the loan is deemed ineligible.
Those who are ineligible for the asset test are subject to an additional interest rate as follows:
Those who do not qualify for the asset screening cannot proceed with the loan, and additional interest rates will be charged if the loan is deemed ineligible.
The loan period is 2 years and can be extended 4 times, for a maximum of 10 years.
In the case of the National Housing and Urban Guarantee Corporation’s deposit relief loan guarantee, it can be extended four times for a maximum of 2 years and 1 month, for a maximum of 10 years and 5 months.
After using for a maximum of 10 years, 2 years are added for each minor child at the time of extension, for a maximum of 20 years.
The loan repayment method is a lump sum repayment method at maturity.
Above, we learned about Sunshine Loan Youth, a loan for unemployed youth, and housing and monthly rent loans from the Housing and Urban Fund. Since Sunshine Loan Youth also provides loans for housing expenses, I would like to recommend that you receive a loan with favorable conditions compared to products from the Housing and Urban Fund.
Sunshine Loan for Unemployed Youth is up to 12 million won per person.
Sunshine Loan Youth’s loan interest rate is a fixed rate of 3.5%, with a separate guarantee fee of 0.1% to 1%.
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