If you don't go to the bank to deposit money once, I don't know how low the bank deposit interest rate is now. Now not to mention deposits with interest rates of more than 4%, even deposits with interest rates of more than 3% are difficult to find. So, if there is a deposit with an interest rate of 3.2% and requires a minimum deposit of 1 million, can it be saved?
Can I save a deposit of 3.2% with a minimum deposit of 1 million?
At present, in some banks, there are deposits with different interest rates according to the different minimum deposit amounts, and the higher the initial deposit amount, the higher the interest rate. Therefore, if you ask to deposit 1 million, the interest rate should be higher than the ordinary time deposit interest rate.
Even so, even if you want to save 1 million, there are not many deposits with an interest rate of 3.2%, and they basically only exist in some small and medium-sized banks.
Therefore, if we only look at the deposit interest rate, with the current interest rate level, the interest rate of 3.2% is already relatively high in bank deposits. If it's okay in other aspects, it can still be saved.
So apart from interest rates, what other factors need to be considered when saving money?
The first is security. Although bank deposits are principal and interest guaranteed products, the security is relatively high, but they are not absolutely safe. For example, if a bank goes bankrupt, there is a risk that the principal will be lost.
Relatively speaking, it is higher to keep money in large banks than in small and medium-sized banks, after all, the probability of bankruptcy in large banks is relatively small.
However, at present, the deposit interest rate of major banks, except for structured deposits with irregular interest rates, has not reached 3.2%, but is below 3%.
Only a few small and medium-sized banks will have deposits with such high interest rates. In order to keep money in small and medium-sized banks, it is necessary to pay more attention to security. Because if the bank fails, it is only guaranteed to pay 500,000 at most. If you save 1 million, the other 500,000 will not be guaranteed.
Therefore, even if you want to save, at least choose a bank with a lower risk of failure.
Secondly, it is whether it can meet the liquidity demand. At present, the deposit rate can still reach 3.2% for deposits, which are either three-year or five-year. Whether it is a three-year term or a five-year term, the term of the deposit is not short, and if you want to get the fixed interest, you cannot withdraw it in advance.
Therefore, to save such a deposit, you need to make sure that the money will not be used for at least three to five years, that is, you have to sacrifice a certain amount of liquidity. If you think it's okay to save for three or five years, then you can save it.
Again, there is no better option. Although the interest rate of 3.2% is relatively high in the bank deposit circle, it is not the highest. For example, the interest rate on a five-year deposit of a private bank has reached 3.6%.
So, if there is no better option around, it seems okay to choose this deposit. But if there is a better option, it will have to be reconsidered.
Finally, it is whether it is convenient to save money. If you go to a small and medium-sized bank to deposit money, if the bank has a local outlet, it is fine, if there is no outlet, it may be more troublesome to deposit, because small and medium-sized banks generally do not support deposits in other places, and it is undoubtedly troublesome to run from one place to another to deposit money. Of course, if you are not afraid of trouble, you can also save it.
In short, if there is no problem with the security of the deposit, and the liquidity and convenience can meet the requirements, a deposit with an interest rate of 3.2% can be considered. However, it is not ruled out that there are better options. If there is a better choice, it is better to choose the better one.