As they grow older, people over the age of 60 become the main source of bank deposits. With a stable income and a frugal lifestyle, they have gradually accumulated a certain amount of savings. However, in order to protect these deposits, bank managers remind seniors to keep in mind the following five points: do not trust bank staff too much, do not keep all their money in the same bank, do not divulge deposit information to others, do not deposit for too long a period, and do not rely too much on automatic rollover. Below, we'll elaborate on each of these five points and provide more information to help seniors protect their savings.
For many elderly depositors, bank staff are an important source of support for their savings, but they can also be misled by them. For example, Aunt Sun expressed her dissatisfaction with the declining deposit interest rate, and the bank staff recommended a so-called high-yield wealth management product, which Aunt Sun mistakenly thought was a structured deposit from the bank and purchased this product. Afterwards, she found out that she had been misled by the staff and that the product was losing money. Therefore, it is recommended that when the elderly save money, they should be clear about whether they are buying fixed deposits or wealth management products, and do not be deceived by the staff.
Many older people want to keep their money in small and medium-sized banks because they have higher interest rates on their deposits than large state-owned banks. However, in recent years, several small and medium-sized banks have also gone bankrupt due to poor management. In order to reduce the risk, it is recommended that the elderly who save more should spread their deposits among several banks, with no more than 500,000 yuan in each bank. In this way, even if a bank fails, the elderly depositor will be compensated in full.
Some seniors like to show off their savings to relatives and friends, but in this way, relatives and friends are likely to take the initiative to borrow money from the elderly. Faced with the choice of borrowing or not borrowing, the elderly often find themselves in embarrassment and conflict, and in any case, this situation can affect their relationship with each other. In addition, the disclosure of savings information by the elderly to their children can also lead to a series of problems, and the children may ask the elderly for money, and even when the elderly need it, the money has been squandered by the children. Therefore, the elderly should be cautious about their deposit information and not easily disclose it to others.
Older people often think that the longer the deposit period, the higher the interest rate, and choose a 3-year or even 5-year fixed deposit. However, although long-term deposits can obtain higher interest rates, they also suffer from illiquidity. If the elderly are in urgent need of money during the deposit period, they can only withdraw the deposit in advance, and the interest at this time is calculated only according to the current interest rate. Therefore, elderly depositors should consider the liquidity of funds when choosing the term of fixed deposits, and generally the term of 1-2 years is a more suitable choice.
Many seniors like to opt for the auto-rollover function, so that the deposit does not need to go to the bank again when it matures, and the deposit will be automatically converted into a new fixed deposit. However, there are some problems with automatic rollovers: first, the interest rate after rollover is often lower than the interest rate for over-the-counter deposits;Secondly, the automatic rollover will only roll over the previously agreed deposit amount, and the interest generated by the previous deposit will be calculated according to the current interest rateFinally, opting for auto-rollover means that you can't keep up to date with the bank's investment information, and you may miss out on some investment opportunities. Therefore, seniors should be cautious when using the auto-rollover feature.
In this article, we elaborate on five key points that bank managers remind, namely, don't trust bank staff too much, don't keep all your money in the same bank, don't divulge deposit information to others, don't make deposits for too long, and don't rely too much on automatic rollovers. By adhering to these points, seniors can better protect their savings. In real life, the security of the deposits of the elderly has always been a matter of concern. When providing services to the elderly, banks should also strengthen education and guidance for elderly depositors to ensure that their interests are fully protected.
All in all, seniors should be cautious when handling their own savings, valuing personal privacy and financial security. At the same time, banks should also strengthen publicity and education for elderly depositors, and provide them with a variety of services and guarantees. Only by working together can we improve the financial management level of the elderly and protect the safety of their savings.