Employee Loan
Target Customers:
Available exclusively to NongHyup employees.
Loan Term and Repayment Method
|
Loan Term
|
Repayment Method
|
Interest Rate
|
Loan Amount
|
|---|---|---|---|
|
10 months
|
Repayment is made in 10 equal monthly installments, with principal and interest paid in proportionate amounts.
|
15% per annum
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Up to 3 times the employee's basic salary
|
Social Welfare Fund Contribution: 0.5% of the loan amount.
Compulsory Savings: 4% of the loan amount.