Hana Bank Halts New Variable-Rate Mortgage Issuance and Limits Credit Line Caps

Hana Bank is halting the issuance of new variable-rate mortgages and non-face-to-face mortgage loans, while also capping credit line limits on revolving credit lines (minus-tongjang), as part of strengthened efforts to manage total household lending.

Hana Bank announced that it will temporarily suspend new non-face-to-face mortgage loans starting today (August 7).

Beginning on August 11, the bank will cap the limit for new revolving credit lines at 50 million won.

Existing measures that limit individual credit loans to 100 million won per borrower will remain unchanged.

Additionally, the bank plans to temporarily suspend the issuance of new variable-rate mortgages starting on August 12.

The suspension of new variable-rate mortgage issuance will apply to both in-person and non-face-to-face loans.

Previously, Hana Bank stepped up its internal household loan management by restricting total household credit loans to within 100 million won per borrower and temporarily halting new subscriptions for mortgage insurance.

Other banks are also tightening controls to meet their annual household loan management targets, such as reducing mortgage loan caps and temporarily suspending loan applications through loan broker channels.

Data showed that the increase in household loans (excluding policy-backed loans) by the five major banks from the beginning of this year through August 2 exceeded the annual targets submitted to the Financial Supervisory Service at the start of the year by more than 1 trillion won.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.