Nonghyup Mutual Finance Launches New Deposit and Loan Products Simultaneously to Support Young Farmers in Line with New Government Agricultural Policy

Nonghyup Mutual Finance launched two new products, 'K-Agricultural Happiness Savings' and 'K-Agricultural Hope Loan', on the 20th in line with the new government's agricultural policy, holding a launch ceremony at Mado Agricultural Cooperative in Hwaseong City, Gyeonggi Province. K-Agricultural Happiness Savings is a one-year flexible deposit product for agricultural workers and prospective agricultural workers (students at Korea National University of Agriculture and Fisheries), allowing deposits up to 2.4 million won annually. For young farmers under 40, the product offers a special preferential interest rate of up to 3.5% using Nonghyup Central Association funds, providing a maximum interest rate of 7.78% (annual, pre-tax). K-Agricultural Hope Loan increases the existing low-interest agricultural funding loan limit, offering loans up to 100 million won per person within a two-year loan period. Nonghyup Central Association supports up to 2% interest subsidies, with an additional ...