Shinhan Bank Closes Loan Broker Applications After Two Days as Household Loan Demand Remains Strong

[Financial News] Shinhan Bank stopped accepting household-loan applications through loan brokers just two days after resuming them.
According to the banking sector on the 3rd, Shinhan Bank closed applications for household loans through loan brokers at around 5 p.m. on the 2nd, after reopening them on the 1st. The bank’s loan allocation for September was fully used within two days.
New loan applications through loan brokers are scheduled to resume on October 1. Shinhan Bank manages its monthly allocation for new household loans through loan brokers. Once the allocation is exhausted, the bank does not accept new applications until the end of that month.
However, customers can still apply normally for new loans by visiting a branch in person.
The loan-broker allocation has been exhausted increasingly quickly since July. Applications for July closed on the 8th of that month, while the allocation for August was fully used on the 28th, just one day after advance applications opened on July 27.
A banking-sector official said, "The allocation is being used up quickly as loan demand continues to pour in."

[email protected] Seo Ji-yoon Reporter