무직자 청년대출[table of contents here]
This is a representative government-supported product among loans for unemployed youth. Any young person under the age of 34 can receive a loan regardless of income. It is a microfinance product created to resolve the financial difficulties faced by college and graduate students, job seekers, and those new to society and to enable them to focus on employment and studies. After receiving a credit guarantee through the Korea Inclusive Finance Agency, you can receive a loan through a financial institution.
Common: 19 to 34 years old
Job seekers, college students, graduate students, credit bank students, unemployed youth
Income: Young people with annual income of 35 million won or less and who have been employed at a small or medium-sized business for less than 1 year.
Click here to apply for Sunshine Loan Youth!
Loan limit: Up to 12 million won
A maximum of 12 million won is possible for the same person. However, for living expenses, up to 3 million won per six months, and for special purposes such as education, housing, and medical expenses, up to 6 million won per year.
Loan period: grace period + repayment period
You can choose up to 15 years.
– Repayment period: Set up to 7 years
– Grace period: Varies depending on qualification conditions
College student: 6 years (8 years)
Graduate student, credit bank system: 4 years (6 years)
Unemployed: 2 years (4 years)
Newcomer to society: 1 year (3 years)
* For men, if they have not completed the military service, an additional 2 years of deferral is possible, including the military period.
*There is no fee for mid-term living arrangements.
Loan interest rate: 3.6% ~4.5% per year (3.5% per year (fixed interest rate) + guaranteed interest rate)
– Subject to social consideration: 0.1%
– Job seekers such as college students: 0.5%
– Newcomer to society: 1.0%
1. Age verification: Real name certificate 2. Employment verification: Health insurance qualification gain/loss certificate 3. Income verification: Health insurance premium payment confirmation 4. Income verification replacement documents (office workers): Earned income withholding tax receipt, income amount certificate, pension calculation Confirmation of subscription details, salary account statement, employment contract 5. Substitute documents for income verification (students): Bank account transaction details and confirmation documents – for verification of government subsidies and scholarships 6. Business verification: Certification of business status 7. Confirmation of military enlistment plan: Copy of resident registration 8. Temporary or part-time employment status: Employment contract 9. Graduate student: Certificate of enrollment, certificate of leave of absence, certificate of deferred graduation 10. Credit bank system: Confirmation of course attendance in credit bank system, certificate of credit recognition 11. Person subject to social consideration: Certificate of single-parent family, family relationship Certificate, North Korean defector registration confirmation, disabled person registration certificate, disability authentication certificate, national basic livelihood recipient certificate, next-lowest class confirmation, next-lowest class self-burden reduction recipient certificate
You can conveniently apply for Sunshine Loan Youth through document submission and screening through the Korea Inclusive Finance Agency app. You can apply directly through the link below.
1. Application for guarantee and submission of documents
Check price requirements and apply for guarantee through the Korea Inclusive Finance Agency app. After completing financial education, submit documents. (Completion of financial education within 6 months from the date of application for guarantee is recognized)
2. Warranty review
A non-face-to-face warranty screening will be conducted based on the submitted documents.
3. Agreement conclusion and loan execution
Once the bond is approved, a commitment is entered into. Afterwards, the loan is issued after the bank’s loan review.
Click here to apply for Sunshine Loan Youth!
How to create a stealth emergency fund account
You may have heard many stories of couples fighting because they were caught hiding emergency funds. If you have an emergency fund in cash, you should keep it in a bank account, but these days, it is not easy to store an emergency fund in a bank account.
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