Korea Prepayment Fee Calculator 2026 — Bank Mortgages 0.65%, Cooperatives 0.6

Input

Loan type (fills the rate)

Amount to repay early (₩)

Prepayment fee rate (%)Check your loan contract for the exact rate

Loan start date

Planned repayment date

Fee period (years)Usually 3 years from the loan start

Most Korean lenders charge: amount repaid × fee rate × remaining days ÷ exemption period, usually 3 years from the start date.
Banks: since 13 Jan 2025 fees may only cover actual costs; the big five banks' average mortgage fee fell from 1.4% (fixed) / 1.2% (variable) to 0.65%.
Cooperatives (Nonghyup, Suhyup, forestry co-ops): secured-loan fees fell from up to 2.0% to 0.6–0.9% for loans from 1 Jan 2026.
Cuts apply only to contracts signed after each date. Some banks waive fees temporarily — check your contract.

Amount × fee rate × (days left ÷ total exemption days). Repaying ₩100M at 0.65% with 2 of 3 years left costs about ₩433,000.

About 0.65% for bank mortgages signed since Jan 2025 and 0.6–0.9% for cooperative secured loans since Jan 2026.