KB Securities, 'Automatic Deposit Piggy Bank' Account Amount Surpasses 300 Billion KRW
KB Securities announced on the 19th that the subscription amount for the 'Automatic Deposit Piggy Bank' service has surpassed 300 billion KRW.
The Automatic Deposit Piggy Bank service automatically transfers the deposit balance (withdrawable amount) remaining in the comprehensive brokerage account (stock account) after stock investments to a promissory note-type Comprehensive Asset Management Account (CMA) every night. It then pays the earnings based on the promissory note-type CMA interest rate and automatically returns the funds to the comprehensive brokerage account.
The first advantage of the Automatic Deposit Piggy Bank service is profitability. The interest rate of the promissory note-type CMA linked to the Automatic Deposit Piggy Bank service is currently 3.40% per annum before tax (individual), providing higher returns compared to deposit usage fees.
The next advantage is stability. KB Securities' promissory note-type CMA is a product managed with promissory notes issued based on KB Securities' high credit rating (credit rating AA+). Only ultra-large investment banks (IBs) with equity capital exceeding 4 trillion KRW can issue promissory notes, and currently, only four securities companies in Korea, including KB Securities, are authorized to issue them.
Lee Hong-gu, Head of WM Sales Division, stated, "Through the Automatic Deposit Piggy Bank service, we are providing not only convenience in transferring deposit balances for stock investment customers but also profitability and stability." He added, "Going forward, KB Securities plans to continue growing as the industry's top asset management firm by offering various products and services through customer-centric channels as a lifelong investment partner for our customers."
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The Automatic Deposit Piggy Bank service is available to all KB Securities customers and can be applied for at KB Securities branches and on the website. It can also be easily subscribed to via KB Securities' Mobile Trading System (MTS), 'KB M-able (Mable)'. For more details about the Automatic Deposit Piggy Bank service, customers can check through KB Securities' MTS, website, or customer center.
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