Something big is happening, involving every Chinese, and many banks will cut deposit rates from December 22. ICBC was the first to implement the reduction of the listed interest rate of the notified deposit by 0.2 percentage points, and the listed interest rate of the lump sum deposit, the lump sum deposit and the interest rate of the principal deposit were reduced by 0.1 percentage points. The key point is that the listed interest rates of three-year and five-year time deposits were lowered by 0.25 percentage points. In this way, who will dare to deposit money in the bank in the future?
It is understood that in addition to the Industrial and Commercial Bank of China, a number of banks, including the China Construction Bank, the Bank of China, the Agricultural Bank of China, and the Postal Savings Bank, will also adjust the listed interest rates on deposits from tomorrow, and a number of national joint-stock banks will also follow up with the adjustment. What's even more terrifying is that interest rates have been lowered 3 times in 2023, does such an astonishing rate of reduction tell us not to keep money in the bank anymore?
The interest rate on deposits in various banks has fallen sharply, so what is the best place to lend money?
Many people don't understand what it means to cut interest rates, so I'll give you a simple example. For example, ten years ago, you had 100,000 yuan and deposited it in the bank, and it gave you an interest rate of 3.25% on a regular basis, and you could get 3,250 interest at maturity. But now it has lowered the interest rate to 1.65, and for the same amount of time, you can only get 1650 interest.
Some people say that it is easier to make money now than before, and it used to be difficult to earn 100,000 yuan a year, but now it is not difficult to earn 100,000 yuan a year. Personally, I don't agree with this statement, it's really easy to make money now, but the level of consumption has also increased several times. Ten years ago, I had a boxed lunch of 3 yuan, and now the minimum standard is more than 10 yuan.
Looking at other prices, the consumer price index rose by 2.5% in August this year, and the interest rate given by major banks was around 1.6%, that is, the interest rate on deposits could not keep up with the price rise index. That is to say, after saving for a year, the money is withdrawn, not only did not make money, but also lost about 1%.
So why do banks cut interest rates?
Only ordinary people's money is deposited in the bank, and business-minded people are all invested and will not be kept unmoved. In the past two years, business has been difficult to do, and there are few successful entrepreneurs and many failures. Some people have been successful in starting businesses before, and they have started to lose money in the past two years.
In fact, the meaning of the bank's interest rate cut is very clear, so that everyone can move their funds and invest. Let the investment become consumption. In fact, it is not to blame the bank, it is the country's current macro monetary policy needs, the country should promote the steady growth of consumption, revitalize the real economy, the property market and the stock market interest rate cut.
It should be noted here that everyone should try not to consume in advance, inflation has become faster, and it is a loss to consume in advance. The second scenario is that you have a surplus amount of money, and now the bank interest rate is getting lower and lower, where should you put this money?
Listen to my analysis, despite the falling bank rates, deposits are still a safe option. You may want to consider putting some of your money into a high-interest savings account or fixed deposit for a relatively stable income. Deposit banks have almost no risk, while any other form of risk is risky, but the degree of risk is different.
There is also a stable financial management, and that is bonds. Bonds are a type of fixed-income investment that typically offers a higher interest rate than deposits. When bank rates fall, bond rates may rise. Bonds are suitable for stable people, and you should pay attention when choosing bonds, you must learn to analyze and choose excellent bonds, otherwise it is better to deposit in the bank.
Another type of financial management is stocks, which are high-risk and high-return investments. The person who buys stocks we say that he is speculating in stocks, and it is not important to buy well, but to sell well. No one dares to guarantee that they will always make money by buying and selling stocks, but there are people who keep losing. According to the law of 28, only 20% of people win, and those who lose are the majority. Don't try this lightly, unless you've studied the stock and mastered its rules.
Another way to manage money is a fund, which is a collective investment tool that diversifies risk by investing in a variety of assets. There are also risks, but the risk assessment of different funds is different, and there are also stable ones, which are stronger than deposit banks. No matter which investment method you choose, you should evaluate and make decisions based on your own situation.
The reduction of bank interest rates is a good thing for some people, such as those who have car loans and mortgages, especially those who have a long mortgage period, will save a lot of money. In September 2323, the mainland lowered the loan interest rate for those who bought the first commercial house, and the positive impact was great. For example, I used to repay about 3,000 yuan a month, but after the reduction, I only need to repay about 2,750 yuan, saving more than 200 yuan per month, and saving more than 60,000 yuan in 20 years.
When interest rates decrease, the cost of buying a house will decrease, people who take out a loan to buy a house will need to pay less interest, the monthly payment will decrease, and more people will be willing to buy a house, which will accelerate economic development.
The lower bank interest rate is good news for those who take out a loan to buy a home, but it is also important to note that the lower interest rate may cause volatility in the real estate market, so careful decision-making is required.
I encountered this situation, I just bought a house with a mortgage, and after two months, there were various price reductions, and the people behind me spent 80,000 yuan less to buy a house of the same size in the same real estate than me, and it was useless to talk to anyone. This is not in time, the state only needs to slightly adjust the loan interest rate to affect the market, the lucky ones can save tens of thousands, and the bad luck is equivalent to losing tens of thousands.