Hana Financial Investment issues new high-yield RP

By Korea Herald

Published : Aug. 30, 2016 - 16:59

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Korea’s Hana Financial Investment is seeking to attract new customers and activate idle money by issuing a high-yield repurchase agreement, or RP, the firm said Tuesday.

The RP product, which consists of securities with an annual interest rate of 3 percent before tax, is valid until March 30, 2017. The suggested interest rate is higher than the central bank’s 1.25 percent base rate, the company said.

A model promotes a repurchase agreement with 3 percent interest rate issued by Hana Financial Investment. (Hana Financial Investment)

The product was released on Aug. 1 and targets customers who have joined the Hana Membership program, are new clients of Hana Financial Investment or whose firm account totaled less than 300,000 won ($268) in the previous month.

“Through the new product we hope to draw new clients and circulate money stored in inactive accounts,” said Kim Dae-young, head of the marketing division at Hana Financial Investment.

The deal also allow customers to deposit and withdraw money from their account whenever they wish, without constraints, Kim emphasized.

Each customer can purchase repos worth up to 5 million won at the firm’s branches through Dec. 30.

By Kim Bo-gyung (lisakim425@heraldcorp.com)

Korea Herald
Korea Herald
Articles by Korea Herald

Hana Financial Investment issues new high-yield RP

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