Certificates of Deposit (CDs) have a unique position among bank deposit products, because they are usually the deposit products with the highest interest rate among banks. Therefore, even if the threshold for depositing large certificates of deposit is high, there are many people who save them. So, do the four major banks have large certificates of deposit that can be bought, and what is the interest rate?
What are the interest rates on large certificates of deposit of the big four banks?
To buy a large certificate of deposit, one of the prerequisites is that the bank has a large certificate of deposit issued. If the bank does not issue large certificates of deposit, or if the amount of large certificates of deposit issued has been sold out, it cannot be purchased. Fortunately, at present, the four major banks still have large certificates of deposit for sale, and all of them have quotas.
Let's start with ICBC. ICBC's large-denomination certificates of deposit are relatively complete, with all but 5-year certificates of deposit.
The interest rate is 1.5% for both one-month and three-month terms, 1.7% for six-month terms, 1.8% for one-year terms, 1.9% for two-year terms, and 2.35% for three-year terms. Both are 200,000 deposits, if 200,000 deposits for three years, the maximum interest that can be obtained at maturity = 200,000×2.35%×3 = 14,100 yuan.
This is followed by the Agricultural Bank of China. The types of large-denomination certificates of deposit sold by the Agricultural Bank of China are the same as those of the Industrial and Commercial Bank of China.
The interest rate is 1.5% for one and three months, 1.7 per cent for six months, 1.8 per cent for one year, 1.9 per cent for two years and 2.35 per cent for three years. Except for the two-year term, the other maturities are all 200,000 deposits.
If you save 200,000 yuan, the interest you can get at maturity in three years = 200,000×2.35%× 3 = 14,100 yuan.
Let's look at the Bank of China. Bank of China sells large-denomination certificates of deposit with maturities of three months, six months, one year, two years and three years, but some of them are insufficient.
In terms of interest rates, the interest rate for the three-month term is 1.5%, the interest rate for the six-month term is 1.7%, the interest rate for the one-year term is 1.8%, the interest rate for the two-year term is 1.9%, and the interest rate for the three-year term is 2.35%.
Finally, look at CCB. CCB's large-denomination certificates of deposit are also relatively complete, ranging from one month to three years.
The interest rate is 1.5% for one month, 1.5% for three months, 1.7% for six months, 1.8% for one year, 1.9% for two years and 2.35% for three years.
In addition, CCB also has a five-year special deposit with a minimum deposit of 200,000 yuan, which is similar to a large-amount certificate of deposit, with an interest rate of 2.4%. Other than that, it is not much different from the other three major banks.
It should be noted that if the depositor withdraws the certificate of deposit in advance, the income will be calculated according to the current deposit interest rate on the date of withdrawal, which will cause the depositor to lose a large amount of interest.
For example, if a depositor deposits 200,000 yuan in CCB for a three-year large-amount certificate of deposit, the interest rate is 2.35%, and after saving for one year, he is in a hurry to withdraw the money, and the interest is calculated according to the current deposit interest rate of 0.2%, at this time the interest = 200,000×0.2%×1 = 400 yuan.
If the interest rate is calculated at 2.35%, the interest on saving for one year is 4,700 yuan. The difference between the two is more than tenfold.
If you are worried that you will need to withdraw it early and lose a large amount of interest, it is best to buy a large certificate of deposit that can be transferred. If you need to withdraw it in advance, you can transfer the large amount of deposit, so that even if there is an interest loss, it will be relatively small.
It can be seen that at present, the interest rates of large certificates of deposit of the four major banks are basically the same, and there are only slight differences in the term of issuance, so no matter which one you choose, you will not suffer.