Shinhan Investment Corp. Lowers Interest Rates on Margin Loans

Shinhan Investment Corp. announced on the 27th that it will lower the interest rates on credit transaction loans by period to reduce the burden of interest rates.

The shortest period, within 7 days, will be reduced from the existing annual rate of 5.05% to 3.90%, and the longest period, over 90 days, will be reduced from the existing annual rate of 10.0% to 8.90%. The interest rates have been lowered for the entire period, not just specific segments, and the announced rates will be applied equally to both face-to-face and non-face-to-face transactions.

In addition, Shinhan Investment Corp. lowered the interest rate for the 1 to 7-day period, which accounts for the largest volume of credit loan transactions, by 1.15 percentage points annually. This is the lowest level in the industry, and the revised credit transaction loan interest rates will be applied from purchases made on the 2nd of next month.

Meanwhile, the current deposit utilization rate at Shinhan Investment Corp. is 1.05% (based on deposits of 500,000 KRW or more, with 0.85% applied for less than 500,000 KRW). This is the highest among the top 10 companies by equity capital offering deposit utilization rates. The deposit utilization rate refers to a type of interest paid on funds deposited by investors.

Yang Jin-geun, Head of the Individual Customer Strategy Division at Shinhan Investment Corp., stated, "We aim to provide tangible benefits to customers during the period of rising interest rates," and added, "We will do our best to fulfill our role in line with our public responsibilities."