KakaoBank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
KakaoBank is a Korean digital bank whose easy-access savings account pays a headline rate of 0.1% on a no-monthly-fee model, so it suits domestic residents who want cash on call rather than a return, and pairs with a credit line at an APR of 5.212% to 8.784%.
Key facts
- Best for
- A no-contract easy-access account for Korean residents who also want a credit line and a card.
- Headline rate
- 0.1%↗
- Rate type
- Variable↗
- Term
- 12 to 60 months↗
- Access terms
- No contract period and no deposit limit; domestic residents aged 14+; interest settled monthly and paid the following day↗
- Monthly fee
- ₩0↗
- Account kind
- Easy access↗
- Legal entity
- KakaoBank Corp. (주)카카오뱅크, business registration number 375-88-00197↗
- Headquarters
- South Korea↗
- Founded
- 2016↗
- Support channels
- Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- kakaobank.com
Loans
- APR
- 5.212% to 8.784%↗
- Loan amount
- ₩1,000,000 to ₩300,000,000↗
- Arrangement fee
- None; stamp tax only when loan amount exceeds KRW 50 million - customer pays 50% of KRW 70,000 (over KRW 50m) or KRW 150,000 (over KRW 100m)↗
- Credit check
- Hard↗
- Lender type
- Direct lender↗
- Free early repayment
- Yes↗
- Eligibility
- Korean nationals aged 19 or over, salaried employees with annual income of at least KRW 35 million and 1 year or more of employment, no credit default records↗
- Loan types
- Personal, Credit-line, Car, Secured, Business, Guarantor↗
- Credit needed
- Excellent↗
- Features
- Credit line
Credit cards
Debit cards
- Card type
- Debit↗
Mortgages
Facts checked September 26, 2026, 7 sources
Pros and cons
Pros
- Access is easy access (easy access): no contract period, no deposit limit, and interest settled monthly then paid the following day
- The credit line offers KRW 1,000,000 to KRW 300,000,000 over 12 to 60 terms, and early repayment is free
- KakaoBank lends directly (direct lender) across a spread of loan types (personal, credit line and car), including car, secured and business lending
- Cards sit alongside the account: a debit card (debit) and a credit card paying cashback (cashback) with an annual fee of KRW 10,000 to KRW 15,000
Cons
- The headline rate of 0.1% trails bunq at 3.01% and Wise at 3.29%, so the account pays very little for held cash
- On headline rate the account ranks 444 of 488 brands compared, and the offer score part is 0.5
- Loan eligibility is narrow: a hard credit check (hard), excellent credit, and Korean nationals who are salaried employees
Who it suits
- Salaried Korean nationals with a minimum annual income and no credit default records who want a credit line
- Small business owners and parents, since the listed audience covers kids and business (kids and business)
Who should look elsewhere
- bunq, whose headline rate of 3.01% pays more than 0.1%
- Wise, at 3.29%, for anyone who wants a higher return on money kept in an easy-access account
- Finteres, which pays 0% to 36%, if the interest rate matters more than domestic access
How KakaoBank compares
8.7 vs 8.0
8.7 vs 9.4
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Where KakaoBank is available
- Available
- South Korea
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to run the account?+
The savings account runs on a no-monthly-fee model, with a monthly fee of KRW 0. For the credit card, there is an annual fee of KRW 10,000 to KRW 15,000 and rewards are paid as cashback (cashback). Holding costs therefore sit close to the floor, though the account is built for domestic residents.
What does the loan cost and how much can I borrow?+
The credit line is a direct lending product (direct lender) with an APR of 5.212% to 8.784%. Loan amounts run KRW 1,000,000 to KRW 300,000,000 over 12 to 60 terms, and early repayment is free, so a borrower can clear the balance early without a charge. Eligibility is narrow: Korean nationals who are salaried employees, above a minimum age, with a minimum annual income and no credit default records.
Is there an arrangement fee on the loan?+
There is no arrangement fee on the credit line. Stamp tax can apply once the borrowed amount passes a threshold, and the customer pays part of that tax depending on the size of the loan, so smaller loans carry no extra charge. On the mortgage product, the product fee is KRW 0.
What credit check does the loan need?+
The credit line runs a hard credit check (hard) and asks for excellent credit, so anyone with a default on record is unlikely to qualify. Salary details and a minimum annual income form part of eligibility, which narrows the pool of borrowers against lenders that accept a wider range of applicants.
How does the interest compare with the alternatives?+
KakaoBank pays 0.1% on the savings account. bunq pays 3.01% and Wise pays 3.29% on comparable easy-access money, while Finteres pays 0% to 36%. On headline rate the account ranks 444 of 488 brands compared here.
How do I get help?+
Support runs on phone and help centre, meaning a phone line and a help centre handle the account. The phone line is the quicker route for anything time sensitive, such as an interest payment date or a loan repayment, while the help centre covers account mechanics and product detail. Both channels are listed for the savings and lending products.
Does KakaoBank lend for property too?+
KakaoBank also lends for property, with an initial rate of 4.493% and a product fee of KRW 0. The mortgage product covers purchase, remortgage and first-time-buyer purposes (purchase, remortgage and first time buyer), so a buyer and an existing borrower can both apply. Lending there follows the same direct lender model as the credit line (direct lender).
Sources
- ja.wikidinero.com/en-kakao-bank-shinhan-card-ko checked September 26, 2026
Backs: Annual fee, Card kind, Rewards type
“Domestic-only card: KRW 10,000 - Domestic and international card: KRW 15,000 for Kakao Bank Shinhan Card”
- kakaobank.com checked September 26, 2026
Backs: Card type
“Friends Check Card”
- kakaobank.com/view/service checked September 26, 2026
Backs: Audience
“mini for ages 7 and teenagers”
- kakaobank.com/products/loanCredit checked September 26, 2026
Backs: Loan amount, APR, Credit check, Credit needed, Eligibility, Free early repayment, Lender type, Arrangement fee, Term
“KakaoBank personal credit loan: maximum limit KRW 300 million ... minimum loan application amount KRW 1 million or more”
- kakaobank.com/products/mortgageLoan checked September 26, 2026
Backs: Initial rate, Product fee, Purpose
- kakaobank.com/products/withdrawal checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Legal entity, Pricing model, Monthly fee, Rate type, Support channels
“Eligibility: domestic residents aged 14+ with real-name verification; deposit amount: no limit; contract period: no limit”
- kakaobank.com/view/about/corp/history checked September 26, 2026
Backs: Founded, Headquarters
“Year established: January 2016 (preparatory company Korea Kakao Co., Ltd. established Jan 2016; banking business started July 2017)”
- kakaobank.com/view/service checked September 26, 2026
Backs: Features, Loan types
“KakaoBank loan products: emergency loan, overdraft credit line, personal credit loan / mid-credit loan, sole-proprietor personal credit loan, sole-proprietor real-estate-backed loan”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Minimum deposit, Deposit protection.
KakaoBank
A no-contract easy-access account for Korean residents who also want a credit line and a card.