Maybe we are in an era of grabbing: concert tickets, Spring Festival tickets, tickets for some popular attractions, even some restaurant seats, and now bank deposits are also robbed.
Shouldn't banks take the initiative to go to the door to win money, find all kinds of connections to pull deposits, and give deposits to all kinds of gifts? Why do we still need to rely on robbery now? You read that right, bank deposits and investment in treasury bonds have now entered an era of robbery.
Hello everyone, I am a financial author, and I tell you a different banking and financial story every day.
The first story, the purchase of treasury bonds, has entered an era of seconds
From April 10, 2024 to April 19, 2024, the first and second phases of the 2024 savings treasury bonds (electronic) were officially issued.
Mr. Lin, a citizen of Guangzhou, was incomprehensible in the face of the fact that the treasury bonds had just been launched, and at the same time he felt frustrated that he had not grabbed them. He said, "I knew that it would be difficult to grab the issuance of treasury bonds, but I didn't expect it to be so difficult." I kept swiping my mobile phone with my phone, but I was afraid that I wouldn't be able to grab it, but it was empty in just one second, and I was busy for half an hour, but I didn't grab the quota at all. ”
People like Mr. Lin are not alone, and the treasury bond quota of major state-owned banks is almost always 'out of seconds' as soon as it is online, because the treasury bond quota is directly allocated by the Ministry of Finance to the head office of each bank, and the head office of the bank directly uploads the treasury bond quota to buyers across the country to grab it together, and because there are too many people who buy it, it will naturally be snatched up. However, some state-owned banks said that offline is relatively better, but it is only an hour or two away.
In fact, this is not the first time that government bonds have been so sought after. When the first wave of savings bonds in 2024 went on sale on March 10, it was already difficult to grab them, and many bank outlets sold out of savings bonds in less than half an hour, and the quota of large state-owned banks was particularly tight, and they were sold out in just one hour. It can be seen that the "explosion" of the popularity of the rush to buy treasury bonds has been there this year, but it is not as serious as this time.
Is it true that the patriotic fervor is nowhere to be unleashed when buying treasury bonds? But in fact, this is more a consideration of economic interests. There are three main reasons:
First, under the premise that bank wealth management does not guarantee principal and interest, fund investment losses are heavy, and 90% of retail investors in the stock market invest in losses, the guaranteed principal and interest of treasury bonds have become a safe haven for investment funds, after all, treasury bonds are the safest investment tools, and there is no one.
Second, the interest rate on bank deposits has continued to fall, and the interest rate on treasury bonds has highlighted the advantage of income. After nine cuts in deposit interest rates in 2022 and 2023, bank deposit interest rates have officially entered an era, with the three-year deposit interest rate falling below 2%, while the treasury bond interest rate has certain advantages, the three-year treasury bond interest rate in March and April is 2.38%, and the five-year deposit rate is 2.5%, which is much higher than the bank three-year fixed savings deposit interest rate.
Third, the amount of national bonds is tight, and the amount is small compared with demand. The total amount of treasury bonds issued in March was 30 billion yuan, and the maximum issuance amount in April was 45 billion yuan.
Safety, high returns, and low quotas have become the three major factors for grabbing treasury bonds.
The second story, grabbing a large bank certificate of deposit is more happy than grabbing a concert ticket, and there may be fewer and fewer in the future, and the opportunity to grab it is the most terrible
Bank certificates of deposit are savings products with the highest interest rate among bank deposits, so with the continuous reduction of bank deposit interest rates in 2021, bank certificates of deposit have become more and more popular, and relying on grabbing is no longer enough to describe the popularity of bank certificates of deposit.
The post-85 girl in Hangzhou grabbed a large deposit certificate of 500,000 yuan with an annual interest rate of 2.5 percent and a term of three years, and directly said excitedly, "I am happier to grab a large deposit certificate from the bank than to grab a concert ticket!" Why is it an exaggeration to say that I am happier to grab a large deposit certificate from the bank than to grab a concert ticket? Especially for those post-85 generations who love to watch concerts as if they were their lives, are they more happy than they are to get concert tickets? No! Duoduo believes that grabbing tickets for idol's concert is just spiritual happiness, while grabbing a large bank deposit certificate is a double happiness of material and spiritual. The reason is that it is too difficult to grab a large amount of bank certificates of deposit.
Let's first take a look at what is the large-amount certificate of deposit that the Hangzhou girl snatched?
Indeed, the advantage of a bank's three-year, annualized deposit interest rate of 2.5 percent is very obvious, after all, the interest rate on a three-year term of a large certificate of deposit of a large state-owned bank is only 2.35 percent, and the amount is not much.
According to the data released by the People's Bank of China, in the first three quarters of 2022, the number of large-denomination certificates of deposit issued by financial institutions was 450 million yuan, 300 million yuan, and 270 million yuan respectively, and the most popular 3-year large-denomination certificates of deposit accounted for 51.16% from the perspective of the maturity distribution of large-denomination certificates of deposit. In 2022, it was thought that the interest rate was not high, and the three-year term of about 3.5% for large-denomination certificates of deposit will only have an interest rate of 3.1% in 2023, but the large-denomination certificates of deposit of many banks are still "hard to find", and even the quota will be insufficient within a few minutes of going online;
Recently, the news of China Merchants Bank's suspension of the new issuance of three-year and five-year large-value certificates of deposit has aroused great concern among market investors, while many banks in Guangzhou have no products for sale of five-year large-amount certificates of deposit. Recently, a number of banks have begun to restrict and cancel large-amount certificates of deposit with high-interest rates of 3 years and 5 years! It may become more and more difficult to obtain high-interest certificates of deposit. The year before last and last year, there was already a continuous impact on the rush to buy large certificates of deposit, and this year there may be fewer or even none at all. According to other sources, many banks such as Shanghai Pudong Development Bank and Industrial Bank have made it clear that there is no quota for three-year large-value certificates of deposit, which will become a clear trend in the future.
The reason for the popularity of large-denomination certificates of deposit is, of course, the continuous reduction of bank deposit interest rates. According to the data, at the end of September 2023, the balance of large certificates of deposit of mainland banks has reached 23.5 trillion yuan, which has played a very big role in promoting the continuous narrowing of banks' net interest margins in the past two years.
Therefore, what would you do if there were more than 2.5 percent of the bank's large-denomination certificates of deposit? The conclusion, of course, is: be bold and grab it, because you have it with a fast hand, and you have no money with a slow hand.
The third story, a large three-year fixed deposit can't be grabbed, it's too speechless, right? This is the reality
Many people used to be immersed in the illusion of going to the bank to deposit money and becoming an uncle, and some people even often asked: Can I negotiate the interest rate when I go to the bank to deposit 1 million yuan? What benefits will the bank give me? Will the bank president personally receive you? I can only say that you think too much.
60-year-old Aunt Wu went to the bank to deposit 300,000 yuan and prepared to deposit a three-year fixed deposit, and saw that the three-year fixed deposit interest rate of this large state-owned bank was 2.35%, but the five-year fixed deposit interest rate was only 2%. After arriving at the bank, although the teller received the teller's professional enthusiasm, when he heard that Aunt Wu wanted to deposit for three years, he told Aunt that there is no limit for three-year fixed deposits, and some are only deposits with a three-year term, 1.9% of the two-year term and 1.7% of the one-year term. My aunt is very angry, how can I still have a deposit limit? Moreover, the difference between the interest rate of one-year fixed deposit and the three-year fixed deposit is too large, with a loss of 1,950 yuan in one year and an interest loss of 5,850 yuan in three years, and if the deposit interest rate is lowered next year, the loss will be even greater.
Aunt Wu's situation will become a kind of deposit norm in the future, and the purchase of treasury bonds will depend on grabbing, and the three-year large-amount certificate of deposit will be robbed, and now you have no chance to grab a three-year fixed deposit, because there may be no more at all.
Zhang Yi, vice president of the state-owned bank of China, made it clear that the Bank of China should intensify the pressure on high-cost deposits such as large-amount certificates of deposit with a maturity of more than three years, and appropriately control the proportion of high-cost deposits such as agreement deposits, structured deposits, and large-amount certificates of deposit with a maturity of more than three years. In the first half of the year, some banks proposed to vigorously increase demand deposits and strictly control high-cost deposits.
At this year's semi-annual work conference, many banks have proposed to reduce the cost of deposits, after all, after the net interest margin of banks hit a record low of less than 1.7%, it has had a huge impact on banks' profits, and bank loan interest rates, especially business loans and consumer loans, have fallen to 3% After that, it has approached the interest rate level of high-cost deposits, which is unacceptable to banks, which means that bank deposit interest rates, especially high-interest rate deposits, will be further strictly controlled, and some high-interest rate deposits may be subject to quota control or even no release at all, and high-interest rate deposits will become less and less, and it will be more and more difficult to grab.
We have to rely on grabbing treasury bonds, and we can only miss the days when we still needed to mobilize to buy them; we have to rely on grabbing large-amount certificates of deposit, and the days when we used large-amount certificates of deposit to attract deposits may be more worthy of nostalgia; and you may not be able to grab a three-year fixed deposit, and this is the reality that we cannot face at all, that is, you can no longer find a way to collect interest on the money you have worked so hard to accumulate. Some people may blame the bank for being ruthless, yesterday they mobilized us to deposit money to give us gifts, greeted us with a smile, and today told us that we need to apply for a quota for deposits? This is the reality we are about to face. How will you make a deposit?