Woori Investment & Securities raised interest rates on individual customer deposit products by up to 0.30 percentage points on the 29th, following a base rate increase. The rate adjustments apply to fixed-term deposits and CMA accounts, with the largest increase affecting the 90-179 day term segment. The move positions the brokerage competitively in South Korea's deposit market, where its products uniquely offer deposit protection coverage up to 100 million won per person including principal and accrued interest.
Woori Investment & Securities Raises Fixed Deposit Rates Across All Terms
Woori Investment & Securities increased rates on bill-type fixed deposits for individual customers by 0.05 to 0.30 percentage points across all maturity terms on the 29th. The 1-year (365-day) maturity lump-sum deposit and the 270-364 day maturity lump-sum deposit rates were raised to 3.80% per annum on a pre-tax basis for individual customers. With an additional 0.10 percentage point preferential rate for online channel subscriptions, customers can receive up to 3.90% per annum interest.
The 90-179 day term segment saw the largest rate increase of 0.30 percentage points for individual customers on a pre-tax basis. With the 0.10 percentage point preferential rate for online subscriptions, the rate was raised to a maximum of 3.30% per annum.
CMA Note Products Receive 0.10 Percentage Point Rate Increase
Interest rates on demand deposit products were raised uniformly. Woori Investment & Securities increased rates on CMA Note and Woori WON CMA Note by 0.10 percentage points across all terms, enhancing both convenience and profitability for short-term fund management.
CMA Note (tiered rates by period), the company's flagship deposit product, provides announced contract rates based on deposit duration, making it suitable for efficient management of short-term surplus funds. With online subscription benefits applied, individual customers receive pre-tax rates of 2.80% to 3.70% per annum depending on the period.
Woori WON CMA Note (tiered rates by amount), which sets rates based on deposit balance, is useful for customers managing both living expenses and investment standby funds in an integrated manner. Available only through online channels, the product applies rates of 2.90% per annum for balances of 10 million won or less and 2.70% per annum for balances exceeding 10 million won, on a pre-tax basis for individual customers.
Deposit Protection Coverage Applies to All Products
Woori Investment & Securities' bill-type fixed deposits and CMA Note products are the only ones in South Korea to which deposit protection applies. Principal and accrued interest are protected up to a maximum of 100 million won per person, securing both profitability and stability.
Company Statement on Rate Adjustment Strategy
Woori Investment & Securities previously announced on the 10th that it had raised rates on bill-type fixed deposits for individual customers by 0.1 to 0.5 percentage points across all terms. The company further increased rates following the base rate increase.
A Woori Investment & Securities official stated, "We adjusted rates on major deposit products so that customers can receive more competitive interest rate benefits in line with the base rate increase. We will continue to respond quickly to changes in market rates and provide products and services that help customers manage their assets."
FAQ
What is the highest interest rate Woori Investment & Securities offers on fixed deposits after the rate increase on the 29th?
The highest rate is 3.90% per annum for 1-year (365-day) and 270-364 day maturity lump-sum deposits when including the 0.10 percentage point preferential rate for online channel subscriptions. The base rate for individual customers on a pre-tax basis is 3.80% per annum.
How does deposit protection work for Woori Investment & Securities products?
Woori Investment & Securities' bill-type fixed deposits and CMA Note products are the only ones in South Korea covered by deposit protection. Principal and accrued interest are protected up to a maximum of 100 million won per person.
