SEOUL, Oct. 6 (Korea Bizwire) — There is a difference between commercial banks’ average credit loan interest rates for professional workers and those for the general public, data showed Tuesday.
According to the data that Rep. Kang Min-kuk of the main opposition People Power Party received from the Financial Supervisory Service, the loan interest rate for credit loan products for professionals averaged 2.42 percent at 13 domestic banks over the past three years, 1.89 percentage points lower than the 4.31 percent reported for the general public.
The average loan interest rate refers to the average of credit loan products that offer preferential rates for specific professional occupations at 13 banks.
The difference in average interest rate between the two groups widened to 1.87 percentage points in the January to August period of this year after narrowing to 1.69 percentage points in 2020 from 1.93 percentage points in 2019 and 2 percentage points in 2018.
The difference in average loan limits between the two groups gradually widened to 69 million won (US$58,080) in 2020 from 63 million won in 2019 and 52 million won in 2018.
The credit loan interest rate for doctors slipped to 2.94 percent in the January to August period of this year from 3.34 percent on average over the past three years, while that for lawyers declined to 3.01 percent from 3.43 percent during the same period.
Ashley Song (firstname.lastname@example.org)