Towards the end of the year, banks are already in full swing to start their 2024 "good start" marketing campaign.
It can be seen from the marketing activities launched by many banks this year that in order to attract deposits, major banks have done their best in this round of good start activities. There are deposit interest rates, consumer loan interest rates, exquisite gifts, etc. Some banks even offer a maximum interest rate of up to 6%.
For example, Anhui Xin'an Bank has recently launched a "special deposit", with an annual interest rate of 3.9% for 3 months, 4.0% for 6 months, 4.0% for 2 years, and 4.1% for 3 years. If the initial deposit amount reaches 50,000 yuan, new customers can get a 2% interest rate hike coupon, and the interest rate for a 6-month term can reach up to 6%.
It can be seen that the commercial banks are really making a bloody start to the decisive battle, so what risks should the people pay attention to when saving money?
The first risk is that the deposit term may be five years
To be honest, the deposit interest rate can now reach 4.2%, which is relatively high in the domestic banking industry. After all, the interest rate has been on a downward trend in the past two years, and it can be seen from the deposit interest rates recently launched by major banks that the annual interest rate can exceed 4%, which is basically a 5-year large-amount certificate of deposit, but the requirements for this kind of certificate of deposit are not low, and the minimum deposit capital must be at least 500,000.
It can be guessed that the bank can give up to 6% interest on the deposit, which is likely to be 5 years. Therefore, when saving money, you must first figure it out to avoid falling into the pit.
The reason why it is said that the five-year deposit is a "pit" is mainly based on the fact that the liquidity of this kind of savings is too weak, and depositors must take into account that they may need to use funds during this period when making such deposits.
Because once the storage is carried out, it is found that the funds are needed in the middle and withdrawn in advance, then the deposit interest rate during this period will be calculated according to the current account, so you will suffer an interest loss.
The second risk: avoid buying insurance or wealth management products
Banks not only have fixed deposits, but also many banks now launch wealth management products, or sell dividend insurance to other insurance companies, the annual interest rate of these products is generally higher, depositors should not ignore the risk of this investment because of high interest when saving money.
After all, once there is a loss in the purchase of wealth management products, no matter how much the loss is, you will eventually have to bear it yourself.
And not to mention insurance, over the years, we have seen similar news on the Internet: depositors are misled into buying insurance, and they cannot get back the principal for life;
Therefore, savers must read clearly when saving money, and don't buy other financial management by mistake, which will make it difficult to return the money.
The third major risk: long-term financial management cannot be withdrawn in the middle of the process
If you buy long-term wealth management or insurance in the bank, once you withdraw the money halfway, the final result will not only be unable to get interest, but also likely to suffer a loss of principal.
Therefore, when buying a deposit with a high interest rate, it is important to take into account the liquidity of this money in the future. It is also necessary to see clearly whether what you are investing in is a bank deposit, a wealth management product or other insurance product, etc.? After all, different products have different deposit periods, and their principal loss risks are also different.
So last but not least, the bank's "good start" campaign has begun, what is the highest interest rate of your bank?
Petty bourgeoisie: Every word of the article was written by me with my heart, and I liked it to let me know that you are also "doing your best" for life.