A new financial product offering an annual interest rate of 8% has been introduced, significantly higher than typical bank savings rates.
Hanyang Securities announced on July 22 that it will sell its 'Third Special Sale of Structured Repurchase Agreements (RP)' with a pre-tax interest rate of 8.0%.
This product is a limited-time offer, available from today until August 31, or until the first 1,000 accounts are filled. It is open to both existing customers using the Hanyang Securities MTS app and new clients.
Customers can choose a contract period ranging from 28 to 91 days. The maximum purchase limit is set at 5 million won for the first transaction. Notably, the selling interest rate of 8.0% (pre-tax) is more than double the typical RP rates in the securities industry, which range from 2.4% to 2.6%, and also exceeds the highest rates offered by major banks for fixed-term savings, which are between 3.0% and 3.95%. However, if customers opt for early redemption, a lower interest rate of 2.0% (pre-tax) will apply.
Recently, the securities industry has seen intensified competition as firms focus on attracting new customers through short-term investment products like RPs and issuance notes, leveraging MTS usage to enhance asset acquisition and diversify financial product offerings.
A representative from Hanyang Securities stated, "This special sale RP provides customers with a competitive investment opportunity and is designed to promote the use of our MTS platform. We will continue to introduce various financial products and services that reflect customer investment demands."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.