Daishin Securities, Industry's First 'No Interest' on Margin Trading Within 7 Days

Daishin Securities decided on the 7th to lower the interest rate on short-term credit loan transactions within 7 days to '0%'. This is an unprecedented zero-interest condition offered for the first time in the industry to reduce stock trading costs.

According to Daishin Securities on the 7th, an interest rate of 0% will be applied to credit loan transactions within the 1 to 7-day period. Additionally, the interest rate for periods over 90 days was lowered by 0.25 percentage points to 9.5%. A Daishin Securities official said, "By reducing short-term interest rates, we expect to encourage shortening the credit transaction period as much as possible, thereby managing the risks associated with 'long-term debt investment'."

Customers who want short-term momentum investments using leverage, such as margin trading where only part of the stock purchase price is paid and stocks are bought on credit, can also enjoy the zero-interest benefit. This is because they can use additional funds for up to 7 days without separate interest costs.

According to Daishin Securities, short-term credit transactions within 1 to 7 days account for about 73% of total credit transactions. This means that the majority of credit transaction customers can benefit from this zero-interest offer.

Along with this, the interest rate for periods over 90 days, which carries a relatively high interest burden, will also be lowered by 0.25 percentage points to 9.50%. The new interest rates will apply from purchases made on this day.

Daishin Securities also plans to lower domestic and overseas stock commission fees to the industry's lowest level for new customers who sign up non-face-to-face. Customers can trade domestic stocks for free for life by paying only a related institution fee of 0.0036396%. Overseas stock commission fees have been reduced from the previous 0.25% to 0.07%. Currency exchange fees are also discounted by 95%.

To enjoy various commission fee reduction benefits, applications must be submitted by August 31. In addition to non-face-to-face new customers, existing customers who have not traded domestic stocks for 12 months or overseas stocks for 6 months can also apply for commission fee benefits. However, if unfair trades such as collusive trading or fictitious trading, which became problematic due to the recent stock manipulation incident involving Ra Deok-yeon’s group, occur, the commission fee benefits will be immediately terminated.

Kang Jun-gyu, Executive Director of Daishin Securities' Digital Division, said, "This was prepared as a customer service measure to reduce customers' investment burdens along with establishing a proper investment culture. We hope that customers will actively utilize the industry's first-ever 0% interest rate on credit loan transactions as well as the domestic and overseas stock trading commission benefits to help increase their profitability."