햇살론15 조건However, because there are different types depending on the support target, there are many cases where it is confusing as to which Sunshine Loan product to choose. Therefore, today we would like to learn more about the types of Sunshine Loans and the characteristics of each product.
◇ ‘Sunshine Loan Youth’ for unemployed youth
Sunshine Loan Youth is a loan product targeting young people between the ages of 19 and 34. Additionally, job seekers with an annual income of 35 million won or less or those who are new to the workforce and have been employed at a small or medium-sized company for less than a year can use the Sunshine Loan Youth. The biggest feature of Sunshine Loans is that even unemployed people can apply for the loan.
Sunshine Loan Youth’s loan interest rate, including the guarantee fee, is around 3.6-4.5% per annum, which is the lowest interest rate among Sunshine loan products. The loan limit is up to KRW 12 million per person and up to KRW 6 million per year. The repayment period is long, up to 15 years, so the burden of repaying the principal is low.
Looking at the interest rates for each support target in detail, you can get a loan at a low interest rate such as ▲ job seekers 4% ▲ those just starting out in society ▲ 4.5% ▲ social consideration recipients 3.6%.
◇ ‘Employee Sunshine Loan’ is available to workers who have difficulty accessing institutional finance.
The Sunshine Loan for Workers is a microfinance loan product targeting workers who have difficulty accessing institutional finance due to low credit ratings and income. As it is targeting workers, employment for at least 3 months is required.
Those eligible for support are workers with an annual income of 35 million won or less, or those in the bottom 20% of their personal credit score and an annual income of 45 million won or less. If you have worked more than 10 days per month for the past 3 months, you will be recognized as continuous employment. For female workers, maternity leave of up to 90 days can be recognized as working time.
You can borrow up to 20 million won with a maturity of up to 5 years, and an interest rate of up to 11.5% applies.
◇ High-interest alternative loan ‘Sunshine Loan 15’
Sunshine Loan 15 is a high-interest alternative product that meets only the minimum requirements and can be used at an interest rate of 15.9%. As you can see from the product name, the interest rate is higher than other Sunshine Loan products, but if you repay faithfully without delinquency, you can benefit from an interest rate reduction of 1.5 to 3.0 percentage points every year, lowering the interest rate to as low as 9.9%.
If your annual income is 35 million won or less or your annual income is 45 million won or less and your credit score is in the bottom 20%, you can use Sunshine Loan 15. The basic loan limit is 7 million won, but you can receive a loan of up to 14 million won through a visit to the Microfinance Integration Support Center and face-to-face consultation.
◇ If additional loan is needed after faithful repayment, ‘Sunshine Loan Bank’
Sunshine Loan Bank is a loan product that supports low-credit and low-income people who have used policy microfinance products to settle into the banking system when their debt and credit have improved through faithful repayment.
If you have used or are currently using a policy microfinance product for more than 6 months and your household loan balance has decreased or your credit score has increased over the past year as of the loan application date, you can use Sunshine Loan Bank.
As it is handled by 13 commercial banks (Gyeongnam, Gwangju, Kookmin, Enterprise, Nonghyup, Daegu, Busan, Suhyup, Shinhan, Woori, Jeonbuk, Jeju, and Hana Bank), a relatively low interest rate of 2.9-6% can be applied. The maximum loan limit is 20 million won, but it is applied differently for each individual depending on the results of the guarantee screening. The repayment method is made by repaying the principal and interest in equal monthly installments over 3 or 5 years.
