Lower prepayment fees "to make it easier to transfer loans."

Starting from the 13th, the prepayment fee applied for loan repayment will be reduced by about half.

The Financial Services Commission said it revamped its calculation criteria to charge prepayment fees only within actual use, lowering the fees from 1.4% to 0.65% on a fixed rate basis and from 1.2% to 0.65% on a variable rate basis.

Under the current law, the imposition of prepayment fees is prohibited, but if the customer repays it within three years, it can be imposed.

The Financial Services Commission explained that the intermediate repayment fee system, which has been imposed by the financial sector without specific calculation standards, has been reorganized to a reasonable level this time.

The Financial Services Commission expected the reorganization of the prepayment fee to help loan users transfer to more advantageous loans or make early repayment.