Half a month ago, the four major state-owned banks, including the Industrial and Commercial Bank of China, announced that they would lower their deposit interest rates, and from that day onwards, the interest rates on deposits in these banks were calculated according to the fall, which was the third interest rate cut in the past year, and the returns brought by depositing money in banks were indeed getting lower and lower.
However, there are not many options for investors who are not willing to bear any loss of principal, and fixed deposits and large certificates of deposit are still the most common choices. According to the latest deposit interest rate of the Industrial and Commercial Bank of China, if 400,000 yuan is deposited for three years, how much interest can be obtained from the Industrial and Commercial Bank of China after maturity?
If 400,000 yuan is deposited into ICBC demand deposit, how much will the interest be after three years?
Perhaps the annualized interest rate of demand deposits is too low, the annualized interest rate of ICBC's demand deposits has not been reduced, and other large banks are exactly the same as 0.2%, 400,000 yuan for three years, and the cumulative interest that can be obtained is: 400,000 * 0.2% * 3 = 2,400 yuan
I believe that no one will deposit 400,000 yuan into the current account, but if the time deposit or large certificate of deposit is withdrawn in advance, part of the funds withdrawn in advance can only calculate the interest according to the current interest rate, which is obviously a loss. Therefore, when you save money, you should according to your own situation, and don't just focus on the interest rate.
If 400,000 yuan is deposited into ICBC demand deposit, how much will the interest be after three years?
ICBC's fixed deposits are divided into three-month, six-month, one-year, two-year, three-year and five-year periods, and the annualized interest rate increases with the extension of the deposit period, and the interest is calculated as follows when 400,000 yuan is deposited into deposits of different tenors.
1. Three-month fixed deposit
After the interest rate cut, the annualized interest rate of the three-month time deposit of ICBC is 1.15%, which is reduced by 10 basis points, and 400,000 yuan has been deposited many times, and the cumulative interest that can be obtained after three years is: 400,000 * 1.15% * 3 = 13,800 yuan
2. Six-month fixed deposit
After the interest rate cut, the annualized interest rate of the six-month fixed deposit of ICBC is 1.35%, which is reduced by 10 basis points, and 400,000 yuan is deposited many times, and the cumulative interest that can be obtained after three years is: 400,000 * 1.35% * 3 = 16,200 yuan
3. One-year fixed deposit
After the interest rate cut, the annualized interest rate of the one-year time deposit of ICBC is 1.45%, which is reduced by 10 basis points, and 400,000 yuan is deposited many times, and the cumulative interest that can be obtained after three years is: 400,000 * 1.45% * 3 = 17,400 yuan
4. Two-year fixed deposits
After the interest rate cut, the annualized interest rate of the two-year fixed deposit of ICBC is 1.65%, which is reduced by 20 basis points, and the interest rate of 400,000 yuan is four years after being deposited twice for three times, and the interest that needs to be converted into three years is: 400,000 * 1.65% * 3 = 19,800 yuan
5. Three-year fixed deposit
After the interest rate cut, the annualized interest rate of the three-year time deposit of ICBC was 2.2%, which was reduced by 25 basis points, and 400,000 yuan was deposited multiple times, and the cumulative interest that can be obtained after three years is: 400,000 * 2.2% * 3 = 26,400 yuan
6. Five-year term deposit
After the interest rate cut, the annualized interest rate of the five-year fixed deposit of ICBC is 2.25%, which is reduced by 25 basis points, and 400,000 yuan matures after five years, and the cumulative interest that can be obtained in three years is: 400,000 * 2.25% * 3 = 27,000 yuan
400,000 yuan to buy ICBC large-amount certificates of deposit, what is the interest after three years?
The minimum deposit point of ICBC's large-value certificates of deposit is 200,000 yuan, and 400,000 yuan obviously meets this criterion and can be purchased. There are six types of certificates of deposit, which are 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 annualized interest rate of these two types of large-amount certificates of deposit is the same, the annualized interest rate is 1.5%, which is reduced by 10 basis points, 400,000 yuan is purchased multiple times, and the cumulative interest for three years is: 400,000 * 1.5% * 3 = 18,000 yuan
2. Six-month certificates of deposit
The annualized interest rate of the six-month large-amount certificate of deposit of ICBC is 1.6%, which is reduced by 10 basis points, and 400,000 yuan is purchased multiple times, and the accumulated interest for three years is: 400,000 * 1.6% * 3 = 19,200 yuan
3. One-year certificates of deposit
The annualized interest rate of the one-year large-amount certificate of deposit of ICBC is 1.8%, which has been lowered by 10 basis points, and 400,000 yuan has been purchased many times, and the accumulated interest for three years is: 400,000 * 1.8% * 3 = 21,600 yuan
4. Two-year certificates of deposit
The annualized interest rate of ICBC's two-year large-amount certificate of deposit is 1.9%, which is reduced by 25 basis points, and the interest of 400,000 yuan is four years after two purchases, which is converted into three years: 400,000 * 1.9% * 3 = 22,800 yuan
5. Three-year certificates of deposit
The annualized interest rate of the three-year large-amount certificate of deposit of ICBC is 2.35%, which has been reduced by 30 basis points, and 400,000 yuan has been purchased multiple times, and the accumulated interest for three years is: 400,000 * 2.35% * 3 = 28,200 yuan
Can I buy insurance and wealth management products?
ICBC is the largest bank in China in terms of scale, volume and market value, so you don't have to worry about losses when you save money. However, if you are not dealing with a savings business, it is not necessarily, such as the purchase of wealth management products, it is possible to suffer a loss of principal, the reason is that the financial product itself is not principal-protected, and it has nothing to do with where to buy.
Neither wealth management products nor savings insurance are directly offered by ICBC, the former is a wealth management subsidiary, the latter is an insurance company, and ICBC is only responsible for distribution.
My answer is that it varies from person to person, and the expected rate of return of these two types of financial products is high for fixed deposits and large certificates of deposit, but they have their own shortcomings. Wealth management products are not rigidly paid, and in extreme cases, not only can they not get the income, but also may suffer part of the principal loss; the closed period of savings insurance is longer, some are more than 10 years, and they cannot be withdrawn in advance during the closed period, otherwise a lot of principal will be lost.
For investors with large capital scale and able to accept the above shortcomings, wealth management products and savings insurance are very important forms of asset allocation. On the contrary, it is still honest to save money, although the interest rate has been lowered, the income can be seen, touched, and stable.