Meritz Securities' 'Super365 Account' Deposited Assets Surpass 30 Billion Won... "Gaining Popularity"

Meritz Securities (CEO Choi Hee-moon) announced on the 3rd that the assets deposited in its newly launched non-face-to-face exclusive comprehensive investment account ‘Super365’ exceeded 30 billion KRW by the end of last year.

The ‘Super365 Account’ is a comprehensive investment account that allows trading of various financial investment products such as domestic and overseas stocks, funds, and bonds at the lowest domestic commission rates, including the ‘RP Auto-Invest Service’ which provides daily compound interest income on held cash even without making investments.

The ‘RP Auto-Invest Service’ automatically invests the cash held in the ‘Super365 Account’ once a day at a designated time on each business day and automatically sells it the next day, enabling daily compound interest investment. Unlike bank savings accounts or securities CMA accounts where interest is only received after a certain period or upon withdrawal request, Meritz Securities’ ‘Super365 Account’ provides daily compound interest income on held cash automatically without any separate application. Compound interest products that add interest on interest are an indispensable and effective financial strategy, especially during periods of rising interest rates like now. Both Korean won and US dollars can earn interest without any amount limit on standby funds, with 3.15% interest for KRW and 4.0% for USD.

For example, if there is a deposit of 30 million KRW in the account, an average pre-tax interest of about 3,600 KRW is provided per business day. This amount is roughly equivalent to the cost of a round-trip commute by public transportation for an office worker. When depositing 100 million KRW, an average pre-tax interest of about 12,000 KRW is provided per business day, enough to cover the cost of one lunch for an office worker. Standby funds in the account can be used anytime for stock and product trading or withdrawal. Customer deposits in the ‘Super365 Account’ have surpassed 30 billion KRW in just over three months, gaining popularity.

Commission fees and credit loan interest rates also offer industry-low levels with exceptional benefits. Online trading commissions are at industry-low levels: 0.009% for domestic stocks, 0.07% for overseas stocks (US, China, Japan, Hong Kong), and 0.015% for bonds. For leveraged investors, the credit loan interest rate was reduced by up to 2.4 percentage points on March 2. The interest rates for the Super365 Account, previously classified into six tiers, were simplified into three tiers: ‘7 days or less,’ ‘30 days or less,’ and ‘over 30 days’ to enhance customer convenience. The reduced interest rates are 5.9% per annum for ‘7 days or less,’ 6.9% per annum for ‘30 days or less,’ and 7.4% per annum for ‘over 30 days,’ all at industry-low levels.

With this interest rate reduction, the rate for 7 days or less dropped from 6.9% to 5.9%, and the rate for 30 days or less decreased from a maximum of 8.4% to 6.9%, down by 1.0 and 1.5 percentage points respectively. The rate for over 30 days was significantly reduced by 2.4 percentage points from a maximum of 9.8% to 7.4%.

Deposit usage fees and credit loan interest rates are set independently by securities firms, and until now, customers had no choice but to use the services of the respective securities firms even if they were dissatisfied with the rates. With the launch of the Super365 Account by Meritz Securities, customers seeking stable returns on deposits or lower credit loan interest rates now have a new option. In particular, the Super365 Account has dramatically improved the inconvenience of having to transfer cash to a separate CMA account or trade RP products frequently to receive interest, offering high deposit interest along with the advantage of being able to trade investment products immediately at any time.

All these benefits are consolidated in the ‘Super365 Account,’ which is exclusively online and can be easily opened through non-face-to-face account registration on the Meritz Securities app ‘MeritzSMART.’

A Meritz Securities representative said, “The Super365 Account consolidates all benefits so that customers can invest and manage assets under the best conditions during the period of rising interest rates,” adding, “We will continue to develop differentiated products and services unique to Meritz Securities to provide better benefits to individual investors.”