Since December 22, a number of banks have lowered deposit interest rates, which is the third time in nearly a year, and China Construction Bank, as one of the four major banks, is no exception, and the annualized interest rates of time deposits and large-amount certificates of deposit of various maturities have declined, with interest rate cuts ranging from 10 to 30 bps.
If 120,000 yuan is deposited in CCB at the latest interest rate, how much interest will be obtained in two years, and how much less interest will it be than before? Let's calculate it.
How much interest is 120,000 yuan deposited in current account for two years
Demand deposits are the only savings product that has not been affected by the rate cut, and the current annualized interest rate is 0.2%. The interest that can be obtained after two years of depositing 120,000 yuan in a demand deposit is:
120,000 * 0.2% * 2 = 480 yuan
The interest rate of demand deposits is less because the annualized interest rate is indeed too low, and it is believed that not many people will keep demand deposits in banks for a long time.
120,000 yuan is deposited in a fixed deposit for two years, and the interest is how much after the interest rate is reduced
CCB's fixed deposits are divided into six types according to different deposit periods, the longer the term and the higher the interest rate, the greater the interest rate cut, and the interest that can be obtained after depositing 120,000 yuan into the fixed deposit for two years is calculated.
1. Three-month fixed deposit
The latest annualized interest rate of CCB's three-month fixed deposit is 1.15%, compared with 1.25% previously, a reduction of 10 basis points, 120,000 yuan is deposited into a three-month time deposit, and it has been repeatedly deposited for two years, and the accumulated interest is:
120,000 * 1.15% * 2 = 2,760 yuan, the interest before the deposit rate was 3,000 yuan, 240 yuan less.
2. Six-month fixed deposit
The latest annualized interest rate of CCB's six-month fixed deposit is 1.35%, compared to 1.45% before the rate cut, and the accumulated interest after two years of deposit maturity is:
120,000 * 1.35% * 2 = 3,240 yuan, and the interest before the deposit rate was 3,480 yuan, which was 240 yuan less.
3. One-year fixed deposit
The latest annualized interest rate set by CCB for one year is 1.45%, and the deposit rate is 1.55% before the reduction.
120,000 * 1.55% * 2 = 3,720 yuan, and the interest before the deposit rate was 3,960 yuan, 240 yuan less.
4. Two-year fixed deposits
The listed interest rate of the two-year fixed deposit has been reduced by more than the three-month, six-month and one-year tenors, reaching 20 basis points, the original annualized interest rate is 1.85%, and the latest annualized interest rate is only 1.65%, which matures exactly after two years of deposit, and the interest is:
120,000 * 1.65% * 2 = 3,960 yuan, the interest before the deposit rate was lowered was 4,440 yuan, 480 yuan less.
5. Three-year fixed deposit
The latest annualized interest rate for CCB's three-year fixed deposit was 1.95%, a 25 basis point reduction from 2.2%. It takes three years after the deposit to get the full interest, so for the sake of comparison, we convert it to two years of interest:
120,000 * 1.95% * 2 = 4,680 yuan, and the interest before the deposit rate was 5,280 yuan, which was 600 yuan less.
6. Five-year term deposit
The latest annualized interest rate of CCB's five-year fixed deposit is 2%, which has been reduced by 25 basis points as the three-year term, which was originally 2.25%, and 120,000 yuan can only get all the interest after five years, which is converted into two years of interest in the same way as the three-year term:
120,000 * 2% * 2 = 4,800 yuan, and the interest before the deposit rate was lowered was 5,400 yuan, which was 600 yuan less.
120,000 yuan to buy a large certificate of deposit for two years, how much interest after the interest rate cut
The interest rate on large certificates of deposit of China Construction Bank has fallen together and the reduction is greater than that of time deposits, the starting point is 200,000 yuan, and 120,000 yuan cannot be purchased directly, so we can use the method of depositing 200,000 yuan with others, and then share the interest after maturity.
Certificates of deposit are also divided into six categories according to the maturity, namely one-month, three-month, six-month, one-year, two-year and three-year, and the interest is calculated as follows.
1. One-month and three-month certificates of deposit
The latest annualized interest rate of CCB's two-term large-denomination certificates of deposit is 1.6%, 1.5% before the interest rate cut, and the cumulative interest that can be obtained after depositing 120,000 yuan for two years is:
120,000 * 1.5% * 2 = 3,600 yuan, the interest before the reduction of the deposit interest rate is 3,840 yuan, 240 yuan less.
2. Six-month certificates of deposit
The original annualized interest rate of CCB's six-month large-denomination certificates of deposit was 1.7%, which decreased by 0.1% to 1.6%, and the interest that can be obtained from the purchase of 120,000 yuan for two consecutive years is:
120,000 * 1.6% * 2 = 3,840 yuan, and the interest before the deposit rate was lowered was 4,080 yuan, which was 240 yuan less.
3. One-year certificates of deposit
The latest annualized interest rate of CCB's one-year fixed deposit is 1.8%, which is 1.9% before the interest rate cut.
120,000 * 1.8% * 2 = 4,320 yuan, and the interest before the deposit rate was lowered was 4,560 yuan, which was 240 yuan less.
4. Two-year certificates of deposit
The annualized interest rate of the two-year large-amount certificate of deposit before the interest rate cut was 2.15%, and the interest rate cut was reduced by 25 basis points, and now it is only 1.9%, 120,000 yuan to buy this large-amount certificate of deposit, which expires exactly after two years, and the interest that can be obtained is:
120,000 * 1.9% * 2 = 4,560 yuan, and the interest before the deposit rate was lowered was 5,160 yuan, which was 600 yuan less.
5. Three-year certificates of deposit
As the three-year large-denomination certificate of deposit, which has the highest deposit interest rate among CCB's savings projects, the interest rate cut is also the largest, with a reduction of 30 basis points to 2.35%, which was originally 2.65%, and matures after three years of purchase, in order to facilitate comparison, it is converted into two years of interest:
120,000 * 2.35% * 2 = 5,640 yuan, and the interest before the deposit rate was lowered was 6,360 yuan, a decrease of 720 yuan.
Are there any other financial products that are suitable for you?
After the deposit interest rate dropped, CCB's highest three-year large-amount certificate of deposit was only 2.35%, and the five-year fixed deposit was only 2% annualized interest rate.
Treasuries are likely to be even more popular. Of course, it should be pointed out that the treasury bonds are not issued by the China Construction Bank, but by the state, and the China Construction Bank is only selling them to the state as a consignee.
There are generally two types of savings treasury bonds, three-year and five-year, the latest annual interest rate is 2.63% and 2.75% respectively, and the average interest rate for two years after the purchase of 120,000 yuan is calculated as follows:
Three-year treasury bonds: 120,000 * 2.63% * 2 = 6,312 yuan
Five-year treasury bonds: 120,000 * 2.75% * 2 = 6,600 yuan
It can be seen that the interest rate of savings bonds is much higher than that of time deposits and large certificates of deposit, so I say that there will be more and more buyers. However, the scale of issuance of treasury bonds is limited, only tens of billions of yuan at a time, and the competition is quite fierce, and it is not easy to buy them, and it is necessary to pay attention to the sales information of the Ministry of Finance or banks at any time and rush to buy them as soon as possible.