Woori Investment & Securities has increased interest rates on its promissory note-based products by up to 0.5 percentage points, aiming to bolster its competitive edge in the retail wealth management market. The adjustments, which took effect on October 10, apply to various deposit-type products and are covered under South Korea’s depositor protection scheme.
Interest Rate Adjustments Across Product Lines
The firm’s decision targets a wide range of maturities to attract individual investors seeking stable returns amid market volatility. According to an official statement from Woori Investment & Securities, the most significant increases were applied to products with maturities between 270 and 364 days.
- Fixed-term Deposits (270–364 days): The interest rate for individual customers rose from 3.1% to 3.6% annually (pre-tax), marking the maximum 0.5 percentage point increase.
- Monthly Interest Payment Deposits: Rates for the same 270–364 day term increased from 3.0% to 3.5% (pre-tax).
- 1-Year Fixed-term Deposits: The base rate is now 3.7% (pre-tax). Customers using non-face-to-face channels, such as the company’s mobile application, receive an additional 0.1 percentage point preferential rate, bringing the total to 3.8% (pre-tax).
Adjustments to CMA and Flexible Products
In addition to fixed-term offerings, the firm adjusted rates for its Cash Management Account (CMA) products, which allow for more flexible liquidity.
- CMA Note (Promissory Note type): Rates were increased by up to 0.45 percentage points across all intervals.
- Standard CMA: The firm implemented an increase of up to 0.5 percentage points.
- Woori WON CMA Note: This specific product saw a 0.4 percentage point upward adjustment.
Investor Protection and Access
This limit is calculated by aggregating all eligible products held by an individual at Woori Investment & Securities.
Investors can access these rates through the firm’s physical branches or via the "Woori WON MTS" mobile application. The company noted that these changes were implemented to reflect prevailing market interest rates and to meet the evolving asset management needs of its retail client base. By increasing these rates, Woori Investment & Securities intends to differentiate its financial services while offering a stable vehicle for investors navigating an uncertain economic landscape.
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