Bank fixed deposits are a method of wealth management chosen by many depositors, and their advantages are stability, low risk, and relatively high interest rates. When making a fixed deposit, depositors often encounter two choices: "with a book" and "without a book". So, what's the difference between the two? This article will provide a detailed analysis of the form of certificate of deposit, withdrawal method, security, deposit term, etc., to help depositors better understand and choose the deposit method that suits them.
First, let's talk about the form of certificate of deposit. The so-called "book" fixed deposit means that when depositing, the bank will issue a deposit certificate to the depositor as a certificate of deposit. This deposit certificate records the deposit amount, deposit period, interest rate and other information in detail, and is a legal document between the depositor and the bank. On the other hand, "no book" fixed deposits do not have certificates of deposit, and the funds are deposited directly into the depositor's bank deposit account. In this way, depositors can check their deposit status at any time through online banking, mobile banking, etc.
Secondly, the method of withdrawal is also an important difference between the two. For "book-based" fixed deposits, depositors cannot withdraw them at will during the deposit period, and can only withdraw the principal and interest in a lump sum after the deposit matures. If you need to withdraw early, you usually need to pay a penalty fee. On the other hand, "bookless" fixed deposits are relatively flexible, and depositors can withdraw them at any time through online banking, telephone banking and other channels when needed, which is more convenient.
In terms of security, the security of the "book" fixed deposit is relatively high due to the certificate of deposit as a certificate. If the certificate of deposit is lost or stolen, the depositor can go to the bank to report the loss with valid documents such as ID card to ensure the safety of funds. However, "bookless" fixed deposits may face certain cyber security risks due to the direct deposit of funds into bank deposit accounts. Therefore, depositors need to pay attention to protecting their account passwords and dynamic passwords and other information to ensure the safety of their funds when using online banking, mobile banking and other channels to deposit and withdraw.
In terms of deposit term, "book" fixed deposits usually have a fixed deposit period, such as 3 months, 6 months, 1 year, etc. Depositors need to choose the right deposit term according to their needs and funding arrangements. On the other hand, the deposit period of "no book" fixed deposit is more flexible, and depositors can deposit and withdraw funds at any time according to their own needs, and are not subject to the fixed term restrictions.
In addition, for "no book" fixed deposits, due to their convenient operation and high flexibility, they are more and more favored by young people and Internet users. However, this also requires depositors to have a certain amount of network knowledge and security awareness, so as to avoid encountering security issues such as online fraud in the process of use.
To sum up, there are advantages and disadvantages of "booked" and "bookless" fixed deposits, and depositors should weigh them according to their own needs and actual conditions when choosing. For depositors who pursue stable income and pay attention to the safety of funds, "book" fixed deposits may be more suitable; For savers who are looking for ease of operation and high flexibility, "no book" fixed deposits may be more attractive. Whichever option you choose, savers should remain vigilant and ensure the safety of their funds.