Hanwha Investment & Securities said on the 1st that it will run the "stock loan transfer era 3.98% event" through Dec. 31 this year.
If customers who hold margin loans for domestic stocks or collateral loans at other firms use Hanwha Investment & Securities' "switch your stock loan" during the event period, they can transfer the loan at an interest rate of 3.98% without selling holdings or repaying the existing loan. However, eligibility to "switch" varies depending on the loan screening results.
Hanwha Investment & Securities will offer the promotional rate for 180 days starting the same day only for stocks for which the "switch your stock loan" has been completed. After the 180-day maturity, it will apply a discount rate 3 percentage points lower than the regular rate.
Earlier, in May, Hanwha Investment & Securities introduced the "switch your stock loan" service for the first time in the investment brokerage industry. By using MyData, customers can check in advance whether they are eligible for a loan, and because they can switch loans without damaging their existing stock portfolios, it was designated as an innovative financial service by the Financial Services Commission.
Lee Dae-il, head of the digital business division at Hanwha Investment & Securities, said, "This event combines both interest rate and term benefits so customers can transfer loans without burden."