Applying DSR to card loans… Interest rates likely to rise next year

As the financial authorities decided to apply the total debt-to-income ratio (DSR) to card loans from January next year, the interest rate on card loans is also expected to rise. On the 14th, the credit finance industry predicted that if DSR is applied to card loans, the amount of card loans will be reduced by 20-30%, making it inevitable to raise interest rates on card loans. As of the end of September, the average interest rate on credit card loans from credit card companies according to the standard rating standards was 11.46% (Shinhan Card) to 15

Reference-www.hani.co.kr

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