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[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities has decided not to receive interest on credit transaction loans that take place on the 1∼7th.
Daishin Securities announced on the 7th that it has lowered the interest rate of the 1∼7-day credit loan from 5.75% to 0%.
The interest rate for more than 90 days was reduced by 0.25% point (p) to 9.5%.
The reduced interest rate will be applied from the purchase on the day.
Daishin Securities explained that short-term leverage (borrowing) investors are concentrated enough to account for 73% of credit transactions, so most of these customers will benefit from interest rate cuts.
Daishin Securities plans to manage risks by encouraging credit transaction periods to be reduced through short-term interest rate benefits.
According to the Korea Financial Investment Association, the 1∼7-day credit loan interest rate applied by local securities firms ranges from 3.90% to up to 8.00% per year.
Daishin Securities will also cut domestic and overseas stock fees for its customers by August 31.
Domestic stocks can be traded free of charge for life if you pay 0.0036396% of the commission of related agencies.
Overseas stock fees will be lowered from 0.25% to 0.07% and exchange fees will be reduced by 95%. Discounted fees are also said to be among the lowest in the industry.
Daishin Securities, however, said it will immediately terminate commission benefits only for those customers if unfair transactions such as traffic control or disguised transactions are detected.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
