About Haetsal Government-Backed Loans
Haetsal loans are Korean government-subsidized financial products designed for low-income or low-credit individuals who cannot access standard bank credit. There are three main types: Haetsal-15 targets borrowers with a credit score of 744 or below with a maximum limit of 7 million KRW; Haetsal Bank offers up to 30 million KRW for income-qualified applicants; and Haetsal Youth is for those aged 34 and under with annual income at or below 35 million KRW.
To apply, visit a participating bank or savings institution. Required documents typically include proof of income (tax returns or pay stubs) and a government-issued ID. Approval depends on income and credit score verification at the time of application — results from this calculator are estimates based on published eligibility criteria.
Frequently Asked Questions
Generally no — you can only have one active Haetsal loan product at a time. Some institutions may allow refinancing into a different Haetsal product upon repayment.
Haetsal-15 charges up to 15.9% APR; Haetsal Bank typically ranges from 6.5–10.5%; Haetsal Youth from 3–5%. Rates vary by product and financial institution.