Hanwha Investment & Securities said on the 16th that it will run a "loan transfer upgrade" event to cut interest costs by switching stock loans through Mar. 31 this year.
The event targets customers who hold margin loans for domestic stocks or collateral loans at other firms. For stocks that complete Hanwha Investment & Securities' "stock loan switch" during the event period, the company will offer an annual 3.9% rate benefit for 90 days.
Meanwhile, the "stock loan switch," which Hanwha Investment & Securities introduced last year as the first in the industry, is a service that allows borrowers to transfer existing high-interest loans to Hanwha Investment & Securities without selling stocks or repaying first. However, eligibility to switch varies depending on the loan review result.
According to Hanwha Investment & Securities, by using MyData, customers can check in advance whether they are eligible for a loan, and they can switch loans without damaging their existing stock portfolios, so it has been designated as an innovative finance service by the Financial Services Commission.
Hong Won-il, head of e-biz at Hanwha Investment & Securities, said, "We prepared this event so customers can manage their assets on reasonable terms," and added, "We plan to continue offering benefits that help customers across their overall financial lives."