[Asia Economy Reporter Kim Min-young] Hana Bank announced on the 1st that it will hold a 'Fund Big Sale Event' offering a waiver of front-end fees for new subscriptions to online recommended funds until the 31st of next month.
This event was prepared to support customers who are experiencing difficulties with outdoor activities and face-to-face contact due to the novel coronavirus infection (COVID-19). Customers will be able to increase their investment product returns by the amount of fees waived or reduced by the bank.
Hana Bank experts provide fee reduction benefits to customers who subscribe to this month's funds recommended through domestic and international market analysis and online-exclusive Exchange Listed Fund (ELF) products.
When subscribing to this month's funds through online channels (smartphone banking, internet banking, etc.), the front-end fee is fully waived, and for online-exclusive ELF, the usual front-end fee rate of about 0.5% is significantly reduced to 0.1%. However, the fee reduction applies only to Ae class funds among this month's funds that charge front-end fees.
Additionally, during the event period, the same front-end fee waiver applies to additional payments made by customers who have already subscribed to the relevant funds, provided the purchase application is completed within the event period. After the event ends, fees specified in each product's prospectus will be charged again.
A Hana Bank official stated, “We prepared this online-exclusive fund event as part of untact finance to help customers practicing social distancing amid the recent difficult social atmosphere. Although investment sentiment is shrinking due to the deterioration of the financial market, we will continue to prepare various events to help improve customer returns even a little during times like these.”
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