In the past few days, my circle of friends has been swiped by the news of China Merchants Bank:
——China Merchants Bank will no longer issue new 3-year and 5-year large-value certificates of deposit!
To put it simply, it is the temporary suspension of the sale of 3/5-year large-denomination certificates of deposit.
The timing of the re-issuance may have to be determined in combination with the general environmental interest rate.
In fact, this notice of China Merchants Bank is not an isolated case.
According to Nancai Express:
Some of the 3-year large-denomination certificates of deposit of Agricultural Bank of China, Bank of Guangzhou, Industrial Bank, and Minsheng Bank have been sold out.
Some of the quotas are sufficient, but the 5-year large certificates of deposit are no longer available.
It will be more and more difficult to deposit large certificates of deposit in the bank for a long time.
Many friends have called it outrageous!
With a huge amount of savings, it is difficult to find a good place.
In fact, there are even more outrageous things:
According to the official website of the People's Bank of China, as of December 2023, a total of 3,939 plus banks have participated in deposit insurance.
Compared with 4,015 in September 2022, 76 less!
Most of these "disappeared" banks are small and medium-sized or township banks.
The survival of the fittest in the market is inevitable, so that everyone's deposits are relatively safer.
But on the other hand, the smaller the choice, the smaller the deposit interest rate advantage.
PS: When you make a deposit, you should also pay more attention to it, and try to choose a bank with deposit insurance to save money.
- Rich people want to save a little more, and the channels are becoming more and more tight;
- Ordinary people want to save money, and the options are shrinking.
Looking at the interest rates that have been falling again and again, there is simply no temper at all.
Many people may have such doubts in their hearts:
Why is it becoming more and more difficult to go to the bank to make a deposit?
What are the best options if you want to take care of your assets safely?
Let's talk about it briefly.
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01
Why is the bank deposit model getting harder?
It is becoming more and more difficult to deposit money in the bank for the following reasons:
First, interest rates on loans have been lowered
As we all know, the main way for banks to make profits: absorbing deposits at low interest rates, lending loans at high interest rates, and earning interest margins.
In the past two years, in order to stabilize the economy and the housing market, the central mother has reduced the financing cost of central enterprises, the cost of buying houses, etc.
Loan interest rates have been falling again and again.
For example, in February this year, a notice was issued saying that the LPR with a maturity of more than 5 years was reduced to 3.95%.
Banks' net interest margins are declining, and operating pressure is gradually increasing.
According to the State Administration of Financial Regulation:
In the fourth quarter of 2023, the overall net interest margin of mainland commercial banks was 1.69%, which has been below the warning line of 1.8% for four consecutive quarters.
China Merchants Bank is also not immune:
In 2021, the net interest margin was 2.48%, and in 2023, it will be only 2.15%.
The 3/5-year large deposit not only has a long deposit period and a high amount, but also has a relatively higher interest rate than ordinary deposits.
In order to alleviate its own operating pressure, it can only be adjusted through the liability side (deposits) - temporarily suspend the sale.
Second, banks are not short of deposits
In addition to the continuous reduction of loan interest rates, another key factor is:
Everyone is so able to save money!!
In the first quarter of 2024 alone, residents' new deposits increased by 8.56 trillion yuan.
Based on the calculation of 1.4 billion people, the average person has saved about 6,114 yuan!
After all, in today's economic situation and investment environment, for ordinary people,
Keeping money in the bank is both worry-free and safe.
But!
For banks, they are not short of deposit business at all now,
And the more deposits you receive, the more you can't get a loan, or the interest rate on the loan is too low.
Net interest margins will get lower and lower.
But now, all walks of life are not easy to do,
Many companies are reluctant to afford excessively high loan interest rates, and 4% may feel too high.
The interest rate on the 5-year large-denomination certificate of deposit is about 2.4%.
The bank's net interest margin may be around 1.6%, and 1.8% is the warning line!
So, to put it bluntly,
The temporary suspension of the sale of large-denomination certificates of deposit by banks is mainly to control the amount of deposits and increase or maintain the net interest margin.
02
Under such a trend, how to save money?
For ordinary people, the threshold for large deposits is relatively high.
Even if there are restrictions, the actual impact may not be significant.
However, judging from the suspension of sales of China Merchants Bank, in the current situation of "asset shortage",
Safe, stable and good returns on medium and long-term financial management are becoming more and more popular.
In the future, with the impact of environmental factors such as the decline in interest rates, it will only become more scarce.
Under such a trend, how should we ordinary people save their money?
If it is money to be used in a short period of time, such as a few months or 1 year,
Yu'e Bao and bank deposits are still a good choice.
If it is not needed for a few years, more than ten years or even a longer period of time,
Or you don't have much money now, but your income is stable, and you want to save a sum of money slowly,
Banking isn't your only option, and probably not the best option for you.
It is recommended to consider annuity insurance, increased whole life insurance and other products.
First, this kind of product is subject to multiple guarantees of the Contract Law and the State Financial Supervision Bureau, and the security is very high;
Second, from the date of insurance, the interest rate of the product is locked for life, so you don't have to worry about the big environmental impact!
High-quality incremental whole life insurance has a long-term compound IRR of less than 3%, while annuity insurance is about 4%.
Looking at the income alone, it is also very good.
Third, the minimum investment threshold for annuity insurance and increased whole life insurance is low, and ordinary salaried people can buy it.
Generally speaking, the annual payment is about a few thousand or one or two hundred thousand, and it is evenly distributed to each month, that is, a few hundred or 2,000 yuan.
However, even if it is an insurance product, it is also in the general environment market.
Last year, the scheduled interest rate was lowered, and this year it is vigorously promoting policies such as the integration of newspapers and banks.
High-quality and high-yield products,Recently, the latest collection has been adjusted here.,
It's also true that there aren't many good products left.
If there is a demand, it is recommended that you do a good job of asset allocation with long-term interest locking.
03
Daddy concluded
China Merchants Bank stopped selling large-value certificates of deposit, and in the long run,
It is the caution of banks about long-term deposits and high interest rates.
There is no clear statement on when it will reopen in the future.
Of course, there is not only one way to go for large certificates of deposit, annuity insurance and increased whole life insurance are also good choices.
Safe, robust and profitable.
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