ABC is one of the world's largest banks, with total assets of US$4.9 trillion, ranking third in the country and third among all banks in the world, just below the other two Chinese banks, ICBC and China Construction Bank.
The scale of assets is related to the strength of the bank, and the strength is related to credit, and the financial industry is a credit-related industry in the final analysis, so we do not need to worry about the security of funds in investment and deposit in the Agricultural Bank of China. However, in the past one or two years, the domestic deposit interest rate has fallen seriously, and if we have 300,000 yuan, how much interest can we get after one year for all kinds of savings products deposited in the Agricultural Bank of China according to the latest interest rate?
What is the average annual interest on a demand deposit?
The annualized interest rate of the demand deposit of the Agricultural Bank of China is 0.2%, and the average annual interest that can be obtained by depositing 300,000 yuan is:
300,000 * 0.2% * 1 = 600 yuan
The annualized interest rate of demand deposits has always been relatively low, so it has not been lowered along with time deposits. The only advantage of demand deposits is that they can be withdrawn, transferred, and spent at any time, and the flexibility is the highest, but the yield is too low to be recommended to put a large amount of money in demand deposits.
What is the average annual interest on a fixed deposit?
Time deposits should be the most touched savings items, Agricultural Bank of China's fixed deposits are divided into six categories according to different deposit periods, and we calculate the corresponding average annual interest after depositing 300,000 yuan.
1. 3 months fixed deposit
The annualized interest rate of ABC 3-month fixed deposit is 1.15%, which is one year after 4 deposits, and the average annual interest rate is:
300,000 * 1.15% * 1 = 3,450 yuan
2. 6 months fixed deposit
The annualized interest rate of the 6-month fixed deposit of ABC is 1.35%, which is one year after two deposits, and the average annual interest rate is:
300,000 * 1.35% * 1 = 4,050 yuan
3.1 Year Fixed Deposit
The annualized interest rate of ABC's 1-year fixed deposit is 1.45%, and all the principal and interest will be recovered at maturity after one year of deposit, and the interest amount is as follows:
300,000 * 1.45% * 1 = 4,350 yuan
4.2 years fixed deposit
The annualized interest rate of ABC 2-year fixed deposit is 1.65%, which matures 2 years after deposit, and the full interest is calculated first and then converted into the average annual interest.
300,000 * 1.65% * 2 = 9,900 yuan, and the average annual interest is 9,900/2 = 4,950 yuan
5.3 years fixed deposit
The annualized interest rate of ABC 3-year fixed deposit is 1.95%, which matures 3 years after deposit, and the full interest is calculated first and then converted into the average annual interest.
300,000 * 1.95% * 3 = 17,550 yuan, and the average annual interest is 17,550/3 = 5,850 yuan
6.5 years fixed deposit
The annualized interest rate of ABC's 5-year fixed deposit is 2%, which matures 5 years after deposit, and the full interest is calculated first and then converted into the average annual interest.
300,000 * 2% * 5 = 30,000 yuan, and the average annual interest is 30,000 / 5 = 6,000 yuan
What is the average annual interest rate for 300,000 yuan to purchase a large certificate of deposit?
The annualized interest rate of the Agricultural Bank of China's large-amount certificates of deposit is higher than that of fixed deposits, but the purchase threshold is at least 200,000 yuan, and if 300,000 yuan exceeds this threshold, you can invest in large-amount certificates of deposit, and the average annual interest of each term is calculated as follows.
1. 1-month and 3-month certificates of deposit
The annualized interest rate is 1.5%, and the average annual interest rate is 1.5%, and the average annual interest rate is as follows:
300,000 * 1.5% * 1 = 4,500 yuan
2. Certificates of Deposit with a maturity of 6 months
The annualized interest rate is 1.6%, and the average annual interest rate of 300,000 yuan is as follows:
300,000 * 1.6% * 1 = 4,800 yuan
3. Certificates of deposit with a term of 1 year
The annualized interest rate is 1.8%, and the 300,000 yuan purchase is one year after the full return of all the principal and interest, and the average annual interest is:
300,000 * 1.8% * 1 = 5,400 yuan
4. Certificates of deposit with a maturity of 2 years
The annualized interest rate is 1.9%, and all the principal and interest can be recovered after two years of purchase of 300,000 yuan.
300,000 * 1.9% * 2 = 11,400 yuan, and the average annual interest is 11,400/2 = 5,700 yuan
5.3-year term of large-denomination certificates of deposit
The annualized interest rate is 2.35%, and all the principal and interest can only be recovered after three years of purchase of 300,000 yuan.
300,000 * 2.35% * 3 = 21,150 yuan, and the average annual interest is 21,150/3 = 7,050 yuan
Another major advantage of CDs over fixed deposits is that they are transferable. Whether it is a fixed deposit or a large certificate of deposit, early withdrawal means that the interest can only be calculated at the interest rate of 0.2%, which is undoubtedly very uneconomical, and this situation can be avoided after the transfer of large certificates of deposit.
What is transfer? It is to sell a large certificate of deposit purchased in the past to someone else with principal and interest, and the receiver pays a certain fee, including the principal and interest. Of course, the proceeds after the transfer may be slightly lower than the corresponding interest rate.
For example, Zhang San purchased a two-year large-amount certificate of deposit from the Agricultural Bank of China with an annual interest rate of 1.9%, and a year later, he used the money to transfer the large-amount certificate of deposit to Li Si, and the yield of the money obtained after deducting the principal was 1.8%, although it was lower than the two-year large-amount certificate of deposit of 1.9%, but much higher than the early withdrawal, and could only obtain a 0.2% return.
Therefore, both in terms of yield and flexibility, large certificates of deposit are better than fixed deposits.
However, as banks' net interest margins are narrowing, in order to reduce costs, some banks have begun to stop issuing three-year certificates of deposit, such as China Merchants Bank, which recently announced a notice to stop issuing three-year certificates of deposit in the future. The Agricultural Bank of China has not taken similar measures for the time being, but the big four banks are likely to follow suit in the future, which means that the 2.35% three-year large-denomination certificate of deposit may one day become a thing of the past.