Shinhan Bank is one firm that has introduced a credit loan product for non-Korean workers here. Photo courtesy of Shinhan Bank
SEOUL, Sept. 30 (UPI) -- Lenders Shinhan Bank and NH Nonghyup Bank have introduced new credit loan products for foreign employees in South Korea.
Shinhan Bank said Tuesday that the firm is offering loans of up to $14,200 with repayment terms ranging from six months to three years. It is available to holders of such visas as F2, F5, E7, and E9.
Eligible applicants need to have at least six months remaining on their stay and have received salaries through Shinhan Bank for the past three straight months. Applications can be made at the bank's branches or via its mobile app.
To improve accessibility, the bank noted that some of its branches near industrial parks that employ large numbers of foreign workers have remained open on Sundays since July.
