As the time will enter the beginning of 2024, the war between the banks has begun again, different from previous years, in order to attract more people to save, this time there are banks to offer an interest rate of 6%, according to the deposit of 50,000 yuan to calculate, a year of interest income is equivalent to 3,000 yuan, so such a high deposit interest rate, what are the risks of the people?
01 The battle for storage started ahead of schedule
Towards the end of the year, banks have started the 2024 "good start" marketing activities, online news, many banks have recently launched a variety of marketing activities, such as raising deposit interest rates, lowering consumer loan interest rates, giving exquisite gifts, etc., can be described as "doing their best".
Not only have the deposit interest rates of state-owned banks been raised, but even many small and medium-sized banks have also adjusted their deposit interest rates at the peak of the year-end deposits.
For example, Huaibin Rural Commercial Bank announced that it will raise the interest rate on new individual lump sum deposits and withdrawals in stages from December 12. If the minimum deposit amount is greater than or equal to 10,000 yuan, the interest rate of 3-month, half-year, 1-year, 2-year and 3-year fixed deposits will be increased from 1.40%, 1.65%, 1.80%, 2.00% and 2.35% to 1.50%, 1.70%, 1.95%, 2.15% and 2.40%.
In addition, Anhui Xin'an Bank has launched "special deposits", 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%.
According to this deposit interest, it is equivalent to saving 50,000 yuan a year to get 3,000 yuan of interest, which can be said to be an ultra-high interest rate in recent years.
02 What is the reason why banks pay such high costs?
In the face of such a high deposit rate, some rational depositors also expressed concern, what is the reason why banks pay such a high cost?
On the one hand, because the first quarter of each year is the time period when residents have the most money in their hands, and the purpose of collecting savings is also to complete the performance indicators, if at this stage, banks can take advantage of the difficult deposit war to complete 70% to 80% of the annual performance indicators, then in the next few months, their performance pressure will be much less;
Banks, on the other hand, do not trade at a loss.
First of all, this kind of activity is a phased phenomenon during the "good start" period, and the "good start" will be lowered to the normal interest rate soon after the end of the "good start".
Secondly, banks are also profitable. For example, depositors deposit 50,000 yuan in the bank, according to the "special deposit" launched by Anhui Xin'an Bank, the interest rate of the half-year deposit is 4%, and new customers can get a 2% interest rate hike coupon, and the interest rate of the 6-month term can reach up to 6%.
50,000 principal, half a year's interest expense of 1,500 yuan, half a year after the return to the normal interest rate, if about 3%, then the interest expense of a year is only 2,200 yuan, if half a year expires, the depositor forgets to continue the fixed deposit, it becomes a demand deposit, the bank's interest expense is lower.
In total, the total annual expenditure required by banks to absorb 50,000 deposits is almost 2,200 yuan, or even less.
The bank used this deposit for lending at an interest rate of 5.8%, and the average annual interest income was 2,900 yuan, deducting interest expenses of 2,200 yuan, and it also earned hundreds of yuan in interest rate differential income;
If the fixed deposit expires in the second half of the year, and the depositor forgets the fixed deposit and saves the current deposit instead, then the bank's interest rate spread income will be higher, and the bank will not do loss-making business.
Moreover, if some depositors are in a hurry to need funds after handling the fixed deposit, then the interest rate on the unexpired deposit is not calculated according to the interest on the fixed deposit, but on the lower interest on the current deposit. In this case, the bank's interest expense is lower.
03 Where is the risk for ordinary people?
It is worth noting that it is also a good start activity, and some activities still have certain risks, which need to be identified and seen clearly by depositors themselves.
For example, some banks will also launch higher interest rate wealth management products, insurance products or funds during the deposit war at the beginning of the year, if depositors do not see the specific content and buy such products, in the end, once the investment loss, at their own risk.
And it is worth noting that with the start of the deposit war, more banks will participate in it with high interest rates, but even for fixed deposits, depositors must understand the risks in advance:
First, you must take into account the flexibility of your money when saving money.
Once the deposit period is too long, you need to withdraw the funds in advance, and the interest on the deposit during this period is no longer calculated according to the fixed deposit interest rate, but according to the current interest rate, which will lead to interest loss.
Second, choose a bank with an insurance mark for fixed deposit.
A bank with an insurance mark means that once the bank faces bankruptcy and collapse, depositors will have to pay less than 500,000 yuan in principal and interest, which ensures the safety of their funds.
In addition, in the process of saving, you must make sure that you are buying a fixed deposit or a bank wealth management product, and mustard bought a wealth management product due to the temptation of high interest rates, which eventually led to the loss of principal.
Therefore, no matter who the subject is, in the face of temptation, everyone still has to treat it rationally!!
Wan Ziwen said: Every word of the article was typed out by me, and I clicked "watching" to let me know that you are also "doing your best" for life.