- All clients whose uninvested cash balance reaches HKD10,000 or USD1,400 (Uninvested cash balance threshold to get interest) in the securities accounts can enjoy a 2.88% per annum interest rate, which means new clients will automatically enjoy this offer once the account opening is approved. This program will be valid from 24 October 2022 until further notice.
|Uninvested cash balance threshold to get interest||10,000||1,400|
|Per annum interest rate||2.88%||2.88%|
|Maximum interest-earning uninvested cash balance||1,000,000||125,000|
2. Clients who have previously joined Magpie Securities “1st Anniversary Bonus – Referral Rewards” program and are enjoying the 2% per annum interest rate will automatically be entitled to a 2.88% p.a. interest rate since 24 October 2022 until there is any new arrangement which is up to the Company’s discretion. Clients who are enjoying 3% per annum interest rate will automatically be entitled to a 2.88% p.a. interest rate from the day following the end of the ‘Rewarding Period’ until there is any new arrangement which is up to the Company’s discretion.
3. “Uninvested cash balance” refers to the cash available in clients’ accounts other than shares.
4. All interest rate offers are only applicable to HKD and USD from 24 Oct 2022 onwards.
5. Interest will be calculated separately for each currency; examples are as follows:
· HKD $100,000 uninvested cash balance can enjoy 2.88% per annum interest rate, i.e. around HKD $2,880 interest per year ($100,000 x 2.88%)
· USD $14,000 uninvested cash balance can enjoy 2.88% per annum interest rate, i.e. around USD $403 per year ($14,000 x 2.88%)
6. Clients can deposit different currencies, only HKD and USD are applicable for the interest offer.
7. The maximum interest-earning uninvested cash balance of HKD is different from that of USD, please refer to the table above for details.
8. All interest will be accrued daily and deposited into the client's securities account on the last trading day (HK stock market) of each month.
9. Interest will be calculated from the same business day if clients deposit HKD $10,000/USD $1,400 at or before 4pm on Magpie Securities’ business days (Monday to Friday, except Public Holiday). If clients deposit HKD $10,000/USD $1,400 after 4pm, interest will be calculated from the next business day. Any deposit made on non-business days, action will be taken on the next business day.
10. If clients buy stocks, the cash balance shown in clients’ securities account will be deducted on that day, but due to different settlement time of different exchanges, the interest will still be accrued on the un-deducted balance on that day, until relevant transactions are officially settled. Likewise, if clients sell stocks, the interest will be accrued on the un-deposited balance on that day, until the transactions are officially settled.
11. The Company has absolute discretion to adjust the uninvested cash balance threshold and annual interest rate offered in response to market conditions and interest rate fluctuations without further notice to clients.
12. If there is any conflict or discrepancy between the Chinese and English versions, the English version shall prevail.
13. The above offer cannot be used in conjunction with other promotional offers. For more details, please contact Magpie Securities Customer Service Department via ‘Chat with us’ in the Magpie Invest APP or through hotline: (852) 3588 0489.
14. The Company reserves the right to change, suspend or terminate the above promotional offers and terms and conditions at any time without prior notice to the clients. All are subject to the Company's interpretation.
15. This promotional offer does not constitute any offer, solicitation, recommendation, advice or any assurance of any securities or financial products. The content of this promotion is provided by the Company, which has not been reviewed by the Securities and Futures Commission.