What is the fixed life and what does it mean

What does it mean to deposit a deposit of 2 pence?

The bank card is set to live two pence:

Fixed two pence is a kind of savings deposit that does not agree on the deposit period in advance, and is deposited in a lump sum and withdrawn at one time;

The minimum deposit amount is RMB50 or its equivalent in foreign currency of not less than RMB100.

Interest calculation rules: If the deposit period exceeds the minimum level of lump sum deposit and withdrawal and is less than one year, the interest will be calculated at a 6% discount according to the interest rate of the same grade of lump sum deposit and withdrawal;

If the deposit period is more than one year (including one year), the interest will be calculated at a 6% discount according to the one-year lump sum deposit and withdrawal interest rate;

If the deposit period is lower than the lowest grade of lump sum deposit and withdrawal, the interest shall be calculated according to the current interest rate;

Calculate the interest rate of fixed and active savings: fixed and active savings have the dual nature of fixed or current savings;

If the deposit period is less than three months, it will be calculated as the current deposit, and if it is more than three months, it will be calculated at 6% off the interest rate of the fixed deposit of the same grade;

If the deposit period is more than one year (including one year), no matter how long the deposit period is, the entire deposit period will be discounted by 6% according to the one-year deposit interest rate of the fixed lump sum deposit on the date of withdrawal;

Formula: Interest = Principal Deposit Period Interest Rate 60% Because the fixed deposit period is not fixed, it is very likely that there will be a fractional number of days when withdrawing, and in this case, the daily interest rate is applicable to calculate the interest.

It is a kind of savings deposit that does not agree on the deposit period in advance, and is deposited in a lump sum and withdrawn at one time.

If the deposit time is less than three months, the interest settlement will be carried out according to the interest rate of the demand deposit, and the interest calculation of the deposit time of more than three months will be calculated according to the six-fold discount of the time deposit, and if the deposit date reaches more than one year, the interest will be settled according to the interest rate of the time deposit.

Extended Resources:

1. Fixed deposits.

Time deposits are also known as "certificates of deposit". The bank and the depositor agree on the term and interest rate in advance at the time of deposit, and withdraw the principal and interest after maturity. Some CDs can be sold in the market before maturity when the depositor needs funds; Some certificates of deposit are non-transferable and require the depositor to pay a fee to the bank if he or she chooses to withdraw funds from the bank before maturity.

2. Provisions on the term of fixed deposits.

The term can range from 3 months to 5 years, and more than 10 years. Generally speaking, the longer the deposit term, the higher the interest rate. In addition to the form of certificate of deposit, traditional time deposits also have the form of passbooks, which are also called passbook time deposits, but they are based on 90 days of interest-bearing days, and no interest is calculated for less than 90 days.

Compared with demand deposits, time deposits have stronger stability and lower operating costs, and the reserve ratio held by commercial banks for this purpose is correspondingly lower, so the capital utilization rate of time deposits is often higher than that of demand deposits.

3. Demand deposits.

A demand deposit is a bank deposit that can be accessed and transferred at any time by the depositor without any prior notice. These can take the form of checking deposit accounts, certified cheques, cashier's checks, traveller's cheques and letters of credit. Demand deposits account for the largest part of a country's currency** and are also an important fund for commercial banks**.

Demand deposits not only have the functions of a means of payment and circulation of money, but also have a strong ability to derive, which is the focus of commercial banks' operations. The interest rate on demand deposits is generally low; Commercial banks in Western countries generally do not pay interest, and some even charge a certain amount of handling fees.

Fourth, the characteristics of demand deposit service.

1.Deposit and exchange: Customers can deposit and withdraw RMB cash at bank branches and self-service devices nationwide with their bank cards, and deposit and withdraw cash at bank outlets in the same city with a passbook with reserved passwords. The same city can also handle the renewal business of cardless (passbook).

2.Flexible funds: customers can use and withdraw at any time, and the liquidity of funds is strong.

3.Convenient payment: Customers can set up a current deposit account as a payment account, and the bank will automatically pay various daily expenses.

5. Types of demand deposits.

Monetary income that is not used for consumption expenditure.

Prepare a savings currency for the purchase of large consumer durables.

The operating turnover monetary funds of self-employed households shall be deposited in the bank in the form of current savings before the bank solves the problems of opening accounts and transferring funds for them.

Answer: Interest calculation of RMB fixed living savings deposits

If the deposit period is less than three months, the current interest shall be paid according to the number of days;

If the deposit period is more than three months (including three months) but less than half a year, the entire deposit period shall be discounted by 6% according to the deposit interest rate of the regular lump sum deposit for three months on the date of withdrawal;

If the deposit period is more than half a year (including half a year) but less than one year, the entire deposit period shall be discounted by 6% according to the interest rate of the regular lump sum deposit and withdrawal for half a year on the date of withdrawal;

If the deposit period is more than one year (including one year), no matter how long the deposit period is, the entire deposit period will be discounted by 6% according to the one-year deposit interest rate of the fixed lump sum deposit on the date of withdrawal;

Second, the characteristics of the fixed deposit and two pennies.

1. Minimum deposit threshold: The minimum deposit amount of the bank's fixed and flexible deposits is generally 50 yuan.

2. Withdrawal rules: The principal and interest of the fixed and two-pence savings deposit need to be withdrawn at one time, and some early withdrawals are not supported.

3. Interest-bearing rules: The fixed two-penny is a type of interest-based calculation, and the interest is calculated according to the six-fold discount of the interest rate of the whole deposit of the same grade according to the deposit period.

In addition to the fixed savings of banks, the recent rise of bank smart deposit products also uses the interest calculation method to calculate interest. The above content on how to calculate the interest of fixed life and two pennies, I hope it will be helpful to you.

2021 Savings Deposit Interest Rates by Bank.

Bank Name Interest Rate %

Benchmark interest rate. Bank of Beijing.

Bohai Bank. China Everbright Bank.

Industrial and Commercial Bank of China. China Guangfa Bank.

Hua Xia Bank. Hengfeng Bank.

Bank of Communications. China Construction Bank.

Bank of Jiangsu. Minsheng Bank.

Abc. Bank of Nanjing.

Bank of Ningbo. Ping An Bank.

Shanghai Pudong Development Bank. Shanghai Rural Commercial Bank.

Bank of Shanghai. Industrial Bank.

Postal Savings Bank. China CITIC Bank.

Bank of China. China Merchants Bank.

Fix two pennies. Mobile banking is possible.

You can also bring your valid ID card and deposit voucher to any business outlet of the deposit bank to take it out. In general, online banking.

It does not support the withdrawal of fixed living two pence, and the fixed living two pence cannot handle part of the early withdrawal business, and can only handle the one-time withdrawal of principal and after-tax interest business.

Extended Resources:

Bank of China is bound to live two pence:

Bank of China has a fixed life plan, which means that users can withdraw the deposit in their bank card at any time. The interest will be calculated at a certain discount on the basis of the interest rate corresponding to the fixed term after a certain period of time, and the income will be higher than that of ordinary current accounts. Generally, the deposit period of the whole deposit is divided into three months, half a year, one year, two years, three years, five years, etc.

According to the regulations, mobile banking is not allowed to withdraw money that is fixed for two pence. Normally, the form of fixed deposit is mainly reflected in the form of certificates of deposit.

If the user wants to withdraw the money from the fixed deposit or the fixed deposit can only hold the deposit certificate or the regular pass and go to the counter of the bank branch to handle the withdrawal procedures.

Mobile banking to demand, different banks have different operation methods for mobile banking to convert to current account, to China Merchants Bank.

For example, the details are as follows:1Open the China Merchants Bank client on your phone.

2.Click the "All" function button in "My".

3.Once you're in, click on "Deposit" in "Finance".

4.Then click on "My Certificates of Deposit".

5.Once you're in, click on the deposit slip that has been deposited.

6.Then click "Convert to Current".

If the depositor's deposit certificate is a deposit certificate, it can only be withdrawn over the counter of the depository bank's business outlets, and cannot be withdrawn from mobile banking or online banking. Depositors need to determine the withdrawal method according to the deposit certificate.

In order to ensure that depositors can withdraw their deposit money, they can go directly to the depository bank to handle the withdrawal business. The two pences can be withdrawn at any time, and depositors can withdraw money according to their needs. It provides convenience for depositors who are unable to determine the specific deposit period and have no use of funds for a while.

The interest rate can vary depending on the tenor and can be withdrawn at any time when you make a purchase.

Fixed savings refers to a savings deposit in which the customer does not agree on the deposit period and can withdraw it at any time, and the interest rate changes with the length of the deposit period. It has both the benefits of fixed term and the convenience of current accounts, and is not subject to access restrictions, which is convenient for customers to manage their finances.

Interest calculation:1If the deposit period is less than 3 months, the interest shall be calculated and paid according to the current savings interest rate listed on the withdrawal date;

2.If the deposit period is more than 3 months (including 3 months) but less than half a year, the entire deposit period will be discounted by 6% according to the interest rate of the regular whole deposit and withdrawal for three months on the date of withdrawal;

3.If the deposit period is more than half a year (including half a year) but less than one year, the interest will be calculated at a 6% discount according to the interest rate of the regular lump sum deposit and withdrawal for half a year on the date of withdrawal;

4.If the deposit period is more than one year (including one year), no matter how long the deposit period is, the entire deposit period will be calculated at a 6% discount according to the one-year interest rate of the regular lump sum deposit on the withdrawal date.

Eligibility. Chinese citizens, Hong Kong, Macao and Taiwan residents, and foreign citizens residing inside and outside China can open a principal and interest deposit account with a valid identity document recognized by the real-name system.