Today is the fifth day of the Mid-Autumn Festival and National Day mini-long holiday, and on October 3, some bank branches have opened their doors. The Agricultural Bank of China is the third largest commercial bank in the mainland, one of the four major state-owned banks, and one of the four systemically important banks of the fourth group (Industry and Agriculture China Construction).
How much interest can I earn after depositing 30,000 yuan in the Agricultural Bank of China in a year? Let's calculate it based on the latest deposit rate of the Agricultural Bank of China on October 3.
30,000 yuan deposited in the Agricultural Bank of China for one year, how much interest can I get after maturity?
(1) Calculation of interest on demand deposits
The advantage of demand deposits is that they can be deposited, transferred, and consumed at any time, without the need to convert in advance, and the disadvantage is naturally that the income is very low. It is worth noting that if a time deposit or a large deposit certificate is withdrawn in advance, interest is calculated at the interest rate of the demand deposit.
The current annual interest rate of demand deposits of the Agricultural Bank of China is 0.2%, and the interest that can be obtained for a year of 30,000 yuan is as follows:
30,000 * 0.2% * 1 = 60 yuan
The interest is indeed very small, only 60 yuan.
(2) Interest on deposits on time deposits
Agricultural Bank of China's time deposits are divided into six categories according to different tenors, namely three-month, half-yearly, one-year, two-year, three-year and five-year. $30,000 into a three-month time deposit (annualized interest rate of 1.25%), and the interest after one year of automatic rollover after maturity is:
30,000 * 1.25% * 1 = 375 yuan
The interest rate for a six-month fixed annual deposit is 1.45% per annum, $30,000 deposited, and the interest after one year is:
30,000 * 1.45% * 1 = 435 yuan
The annualized interest rate of the one-year fixed deposit of the Agricultural Bank of China has decreased by 10 BP compared with before, to 1.55%, and the interest you can get by depositing 30,000 yuan is:
30,000 * 1.55% * 1 = 465 yuan
The annualized interest rate of two-year time deposits has also decreased to 1.85%, and the interest of $30,000 after two years of deposit is:
30,000 * 1.85% * 2 = 1110 yuan; The average interest for a year is $555
The annualized interest rate of three-year time deposits is relatively high, and it is 2.2% after the interest rate cut, and the interest after 30,000 yuan is deposited:
30,000 * 2.2% * 3 = 1980 yuan; The average interest for a year is $660
The five-year time deposit has the highest APR of 2.25%, with interest rates of:
30,000 * 2.25% * 5 = 3375 yuan; The average interest for a year is $675
(3) Investment income from large certificates of deposit
Large deposit certificate is a more popular investment and financial management method in recent years, the annualized interest rate is relatively high, divided into 1 month, 3 months, half a year, one year, two years and three years, the annualized rate of return is between 1.6% and 2.65%. Assuming that 30,000 yuan is deposited into a one-year large-sum deposit certificate, the interest that can be obtained after maturity is:
30,000 * 1.9% * 1 = 570 yuan, which is 23% higher than the interest rate of one-year ordinary time deposits. However, there is a minimum threshold for large-amount certificates of deposit, at least 200,000 yuan at one time, and some deposit points reach 500,000 yuan, so 30,000 yuan cannot buy large-amount certificates of deposit of the Agricultural Bank.
(4) Investment income from savings government bonds
Compared with large certificates of deposit, government bonds have three advantages.
First, the interest rate is higher, for example, the annualized yield of three-year treasury bonds is 2.85%, which is 0.2 percentage points higher than that of three-year large-sum certificates of deposit; second, the starting point is low, you don't need 200,000 yuan, you can invest 100 yuan, and 30,000 yuan is enough to buy treasury bonds; third, early withdrawal can rely on the file to calculate interest, and you can get a part of the interest if you buy treasury bonds and hold them for more than half a year, unlike large certificates of deposit, as long as they are not due, as long as they are withdrawn in advance, interest income will be canceled.
Assuming that 30,000 yuan buys three-year savings treasury bonds, the total interest you can get after maturity is:
30,000 * 2.85% * 1 = 2565 yuan; The average annual investment income is 855 yuan
Of course, treasury bonds have their own "disadvantages", that is, the amount is limited, and each issuance needs to be snapped up, and if you buy it late, you can't buy it for a penny, you can only buy it again when the Ministry of Finance issues it next time. Friends who are interested in treasury bonds should pay attention to the announcement of the Ministry of Finance or the push information of financial media at any time, and can also communicate well with the bank's relationship manager, and notify themselves immediately once the bank sells treasury bonds.
(5) Insurance products
In addition to absorbing public deposits, banks will also sell other financial products, such as wealth management products, funds, savings insurance, etc., of which savings insurance is the focus of banks in recent years, the reason is simple, high fees, each sale can get a high commission from insurance companies.
Savings insurance is very similar to deposits but there are obvious differences in nature, the former is not principal and interest protection and can not be withdrawn in advance, once in a hurry to use money often has only one choice, at the cost of loss of principal to cancel the insurance clause to take out the money. I believe that this is certainly not something that everyone is willing to accept. Therefore, you must find out what kind of products the bank staff are selling you, and do not let down your guard because of the high rate of return, and mistake savings insurance for a deposit.
Write at the end
Different people have different preferences for financial products, and this article does not express the view that insurance is fraudsters, but for people who do not want to buy insurance, this mismatch of supply and demand is difficult to accept. If you have a large amount of money and need to allocate assets, then insurance, especially an increased whole life type insurance product, is worth buying; On the contrary, if you don't have much savings, don't want to engage in so many complex financial products, and just want a stable income, then don't touch insurance, savings and treasury bonds are your best choice.