Foreign workers with stable income and eligible residency status may apply for a credit loan.
The loan amount is available up to KRW 50 million, with an interest rate starting from 9.97% per annum when preferential interest rate benefits are applied (As of September 17, 2026).
Customers can conveniently apply for the loan digitally through a mobile app using just their Foreign Resident Registration Card (ARC).
✅Eligibility for Credit Loans for Foreign Customers: What Visa and Other Requirements Apply?
The most important factors in evaluating a credit loan application from a foreign customer are stable income generation and valid residency status. According to Shinhan Bank's product information, foreign workers must meet requirements relating to their visa, nationality, and employment status to be eligible for the loan.
The first requirement to check is your visa. Eligible visa types are E-9 (Non-Professional Employment), E-7 (Specific Activities), F-2 (Residence), and F-5 (Permanent Residence). At the time of application, more than six months must remain until the expiration of the customer's period of stay. The product is available to workers holding one of the following seven nationalities: Vietnam, the Philippines, Indonesia, Cambodia, Nepal, Kazakhstan, and Uzbekistan.
In terms of employment requirements, applicants must be wage earners who have been employed for at least three months and have an annual income of at least KRW 20 million. In addition, applicants must have a record of transferring their salary to Shinhan Bank for at least one month. However, when the loan is processed through a branch as a refinancing loan for an existing loan from another financial institution, the salary transfer requirement may be waived if the applicant submits a confirmation in advance stating that their salary transfer will be changed to Shinhan Bank through their employer.
✅Loan Limit and Interest Rate: How Much Can You Borrow and at What Rate?
The final loan limit and interest rate vary depending on factors such as the applicant's income level, creditworthiness, and employment status, but Shinhan Bank's SOL Global Loan offers a generous loan amount of up to KRW 50 million.
The applicable interest rate is calculated by adding the additional interest rate to the base rate (6-month financial bond) and subtracting applicable preferential interest rates. The interest rate changes every six months. Customers may receive preferential interest rate benefits of up to 2.8% per annum depending on their banking transaction history, such as salary transfers and maintaining a housing subscription savings account, which can significantly reduce the interest burden.
✅Required Documents and How to Apply Digitally
The application process is simple. With a smartphone, customers can apply for the loan digitally through Shinhan Bank's 'SOL Global' or 'Super SOL' mobile apps anytime and anywhere without visiting a branch.
For a digital mobile loan application, only a Foreign Resident Registration Card (ARC) is required for identity verification. If you have difficulty using the app and visit a branch instead, you must bring your ARC along with income verification documents (Certificate of Wage and Salary Income Withholding Tax, salary statement) and employment verification documents (Certificate of Health Insurance Eligibility and Loss, Certificate of Employment).
✅ SOL Global Loan at a Glance
Category | Details |
|---|---|
Eligible Borrower | Wage earners who have transferred their salary to Shinhan Bank for at least 1 month, have been employed for at least 3 months, and have an annual income of at least KRW 20 million. (※ When refinancing a loan from another financial institution through a branch, the salary transfer requirement may be waived if a confirmation to change the salary transfer to Shinhan Bank is submitted in advance.) |
Eligible Visa Types | E-9, E-7, F-2, F-5 (with more than 6 months remaining until the expiration of the period of stay) |
Eligible Nationalities | Vietnam, the Philippines, Indonesia, Cambodia, Nepal, Kazakhstan, Uzbekistan |
Loan Limit | Up to KRW 50 million |
Loan Term | 6–36 months |
Repayment Method | Equal principal installment repayment |
Interest Rate (As of Sep 17, 2026) | Min. 9.97% – Max. 12.78% per annum (Calculated as: Base rate [6-month financial bond 3.61%] + Additional rate [9.17%] - Preferential rate [up to 2.8%]) - The example rate is calculated based on a loan amount of KRW 50 million, a 36-month term, equal principal installment repayment, and an individual transaction. The actual rate may vary depending on credit rating, collateral ratio, etc. - The interest rate changes every 6 months depending on changes in the base rate. |
Preferential Rate | Salary Transfer: 1.0% (If a salary transfer of KRW 500,000+ is confirmed at Shinhan Bank at least once within the most recent 3 months) |
Welcome Benefit: 1.0% (Available for a limited time until Dec 31, 2026) | |
Housing Subscription: 0.5% (When maintaining the account) | |
Loan Refinancing: 0.3% (Only when applying through a branch) | |
Interest Calculation | Interest is calculated daily based on 365 days per year (366 days in a leap year). |
Interest Paymen | Paid in arrears at regular intervals (e.g., monthly) on a designated payment date. |
Early Repayment Fee | Early repayment amount × Early repayment fee rate × (Remaining loan days / Loan term) Fee Rates: 0.17% for fixed-rate loans; 0.13% for variable-rate loans. (※ Note: If the interest rate change cycle and loan maturity are the same, the fixed-rate early repayment fee applies.)* |
Stamp Tax | None |
Required Documents | ① Digital (SOL Global, SOL Bank, Digital Lounge): ARC ② Branch Application: ARC, Income verification documents (Withholding Tax Receipt, Salary statement), Employment verification documents (Health Insurance Eligibility and Loss, Certificate of Employment) |
For foreign workers building a stable foundation in Korea, the doors to financial services are not firmly closed. Rather than nationality, "stable employment and income" and "valid residency status" are the key to passing the credit loan review.
By appropriately utilizing financial services designed for foreign customers, such as Shinhan Bank's SOL Global Loan, you can conveniently check your loan limit digitally and safely secure necessary living funds. When planning a loan, carefully review the requirements for preferential interest rates to minimize your interest expenses, and establish a healthy repayment plan based on the equal principal installment repayment method.
⚠ Important Information
※ Before using Shinhan Bank's SOL Global or Super SOL mobile app, please read the “Shinhan Online Service Terms and Conditions and Product Information Sheet,” “Basic Terms and Conditions for Electronic Financial Transactions,” “Electronic Notification Service Terms and Conditions,” and “Shinhan SIGN Service Terms and Conditions.”
※ The loan interest rate is the applicable rate as of the reference date and may vary depending on the customer's credit rating, loan amount, loan term, collateral conditions, market interest rates, and other factors.
※ Loans may be restricted for customers who are deemed ineligible for credit, including those designated as subject to credit management by a financial institution.
※ If interest payments are overdue, an overdue interest rate of the applicable loan interest rate plus 3% per annum will apply, with overdue interest capped at a maximum of 15% per annum.
※ If the loan amount is excessive compared with your repayment capacity, your personal credit score may decrease.
※ If principal and interest payments remain overdue for a certain period, you may become obligated to repay the entire outstanding principal and interest.
※ This product allows the borrower to withdraw from the loan agreement in accordance with Article 4-2 (Withdrawal from a Loan Agreement) of the Basic Terms and Conditions for Bank Credit Transactions (for Household Loans), through written notice, telephone, or internet banking.
※ This product is not eligible for a request for an interest rate reduction.
※ The loan limit and interest rate are determined through the Bank's prescribed review process, and the loan conditions stated above may change depending on the Bank's circumstances.
※ Please make sure to review the Terms and Conditions and Product Information Sheet before entering into a contract for this product.
※ When entering into a contract for this product, you may receive an explanation of important matters concerning the product in accordance with the Financial Consumer Protection Act.
※ This advertisement is provided following the applicable procedures in accordance with relevant laws and internal control standards.
※ For further information, please refer to the Product Information Sheet or contact a Shinhan Bank branch or the Shinhan Bank Foreign Customer Call Center at 1577-8380. (Weekdays 9:00 a.m.–6:00 p.m.; closed on weekends and public holidays.)
※ After the compliance review period ends, this content will be retained as a record.