So far, there are still many small and medium-sized banks that are lowering their deposit rates. On the contrary, the deposit interest rates of major state-owned banks have been relatively stable since the beginning of the year and have not been further lowered. So, as one of the major state-owned banks, what is the latest deposit interest rate of Bank of Communications?
Bank of Communications' latest deposit rates
If you choose to deposit money in the Bank of Communications, it is best to save more than 50,000 yuan, and the reasons will be explained later. So, if you deposit 50,000 yuan in Bank of Communications, how much interest can you get every year?
If it is a survival period, the current deposit interest rate of Bank of Communications is only 0.2%, and the interest of a deposit of 50,000 yuan for a year is only 100 yuan. Demand deposits are generally only suitable for saving some change that you usually need to spend, and when you have a coin purse, if you keep all the money in the current account, you will definitely lose money.
If it's a deposit period, there are a variety of options. Generally, the most popular choice is the fixed term of lump sum deposit and withdrawal, because the interest rate is relatively high.
At present, the lump sum deposit and lump sum withdrawal period of Bank of Communications is divided into three levels according to the different deposit amounts.
Among them, the interest rates for three-month, six-month, one-year, two-year, three-year and five-year deposits of 50 yuan are 1.15%, 1.35%, 1.45%, 1.65%, 1.95% and 2% respectively, which is the interest rate of Bank of Communications's listed deposits. If it is a 5-year deposit with the highest deposit interest rate, the annual interest of saving 50,000 yuan will be 1,000 yuan, which is just 10 times that of the demand deposit.
In addition, the Bank of Communications has a minimum deposit of 10,000 yuan and a minimum deposit of 50,000 yuan.
For a minimum deposit of 10,000 yuan, the interest rates for three-month, six-month, one-year, two-year, three-year and five-year tenors are 1.65%, 1.85%, 1.95%, 2.05%, 2.5% and 2.5% respectively. If it is a three-year or five-year deposit with the highest deposit interest rate, the annual interest of a deposit of 50,000 yuan is 1,250 yuan.
For a minimum deposit of 50,000 yuan, the interest rate for a term of one year and below is the same as that for a minimum deposit of 10,000 yuan, and the interest rates for two-year, three-year and five-year terms are 2.15%, 2.55% and 2.55% respectively, and the annual interest rate for a deposit of 50,000 yuan is up to 1,275 yuan.
It can be seen that if you deposit more than 50,000 yuan regularly, you can get the highest interest rate, which is one of the reasons why it is best to save more than 50,000 yuan.
In addition, fixed deposits can also be deposited in a lump sum, fractional deposits, principal and interest and fixed deposits, the main advantage of these deposits is that they are relatively flexible, but the interest rate is relatively low.
The maximum interest rate for lump sum deposits, fractional deposits, and principal withdrawals is only 1.35%, and the highest interest rate for fixed and active deposits is only 0.69%. If there is a certain requirement for the flexibility of the deposit, you can consider depositing, otherwise it is not necessary.
In the case of a call deposit, the current interest rates of Bank of Communications for 1-day and 7-day tenors are 0.25% and 0.8% respectively, which are also relatively low. Bank of Communications' call deposit also requires a minimum deposit of 50,000 yuan, and the maximum annual interest for 5 years is only 400 yuan. This type of deposit is also only suitable for people who have short-term savings needs.
In the case of structured deposits, the interest rate is not so certain. The structured deposits currently on sale by Bank of Communications are all short-term products, with a minimum maturity of only 7 days and an interest rate of 1.28% and a maximum of 3.28%. Among other maturities, the interest rate cap is the highest, with a yield between 1.35% and 4.95%.
Since the interest rate of structured deposits is not fixed, the actual rate of return may vary greatly. If you can only get a yield of 1.28%, the interest of a 50,000 deposit is only 640 yuan a year. If you can get a yield of 4.95%, the interest of saving 50,000 yuan for a year can reach 2,475 yuan.
In short, how much interest is 50,000 in Bank of Communications will vary depending on the choice.