As we all know, Bank of China is one of the four major state-owned banks. The main reason why depositors like to keep their money in the Bank of China is that the safety of their funds is guaranteed. At the same time, Bank of China also has more outlets, and people can go to Bank of China to handle business as long as they are close to home. However, since the beginning of this year, the Bank of China, like other state-owned banks, has been cutting interest rates continuously. Bank deposit rates have now fallen to record lows.
Recently, some depositors have raised the question of how much interest they can get after three years if they deposit 300,000 yuan in the Bank of China? In fact, the interest given by the Bank of China is different for different types of deposits. Usually demand deposits have the lowest interest rates, fixed deposits have higher interest rates, and large certificates of deposit have the highest interest rates. However, the interest rate advantage of large certificates of deposit is no longer so obvious compared to time deposits. Let's start with:
First, demand deposits
Nowadays, many people have a lifetime deposit, mainly because the money needs to be used at any time. For example, after your salary is paid, you can't save it all for a fixed period, you can only put it on your salary card, and you can withdraw it at any time. At present, the interest rate of the Bank of China's demand deposit is 0.2%, if 300,000 yuan is deposited into the demand deposit, the interest income will be 600 yuan a year, and even if it is saved for 3 years, it will only be 1,800 yuan of interest.
Obviously, for savers, it must be a loss to deposit their money for the survival period. It is recommended that if you have funds that need to be used at any time, you can save 3 months of fixed deposits, and fixed deposits are several times the interest rate of demand deposits.
Second, fixed deposits
According to the latest deposit interest rates announced by Bank of China: (1) the interest rate for 3-month time deposit is 1.5%, ;(2) the interest rate for 6-month time deposit is 1.7%, ;(3) the interest rate for 1-year time deposit is 1.8%, ;(4) the interest rate for 2-year time deposit is 2.1%, ;(5) the interest rate for 3-year time deposit is 2.6%, ;(6) the interest rate for 5-year time deposit is 2.65%.
Nowadays, many depositors will choose to deposit for 3 or 5 years in order to covet higher interest rates when depositing time deposits. But in fact, in addition to looking at the interest rate on deposits, savers also need to consider the inflow of funds. In case of a fixed deposit for 3 or 5 years, during which money is urgently needed, it can only be calculated as the current interest rate, and the depositor will suffer a large interest loss.
If the depositor takes 300,000, make a three-year fixed deposit. The Bank of China gives a deposit rate of 2.6%. The interest rate due after 3 years is: 30Х2.6%Х3=23,400 yuan. Of course, the biggest advantage of this is that it can lock in the return on deposits under the downward trend of deposit rates.
Third, large-denomination certificates of deposit
According to the latest interest rate on large certificates of deposit announced by the Bank of China: (1) the interest rate on 3-month certificates of deposit is 1.6%, 2) the interest rate on ;( 6-month certificates of deposit is 1.8%, 3) the interest rate on ;( 1-year certificates of deposit is 1.9%, ;(4) the interest rate on 2-year certificates of deposit is 2.15%, ;(5) the interest rate on 3-year certificates of deposit is 2.65%.
If the depositor takes 300,000, he deposits a three-year large certificate of deposit. The Bank of China gives a deposit rate of 2.65%. The interest rate due after 3 years is: 30Х2.65%Х3=23,850 yuan. In fact, the biggest advantage of large certificates of deposit over time deposits is not the advantage in terms of interest rates. Rather, large certificates of deposit have a negotiable function. If the depositor wants to withdraw this large amount of deposit in advance, he can transfer it to the deposit market. In this way, even if a large certificate of deposit is withdrawn in advance, there will be some interest loss, but it will not be counted as the current deposit interest rate.