In recent years, more and more people have chosen to put their money in bank fixed deposits. When these fixed deposits mature, depositors are faced with the option of automatically rolling over or withdrawing and redepositing.
Auto-dumping can really save time. Depositors do not need to go to the bank again to go through the rollover procedures, and the funds will be automatically transferred to the new fixed product. This is undoubtedly a great convenience for busy white-collar workers.
However, there are certain drawbacks to automatic rollover. First,The interest rate for automatic rollovers is usually lower than that of over-the-counter rollovers. Take a depositor as an example, he chose to automatically redeposit a 100,000 yuan one-year deposit, but the interest rate was only 2%. If he goes to the counter, the interest rate for the same period can reach 225%。It seems that banks are taking advantage of depositors' inertia to get higher spreads.
Second,Auto-rollover also only calculates the principal interest and does not carry over the interest to the next tenor. Taking the above depositor as an example, his principal of 100,000 yuan is 225% calculation, should have received 2,250 yuan in interest. However, the automatic rollover will only redeposit the principal of 100,000 yuan, and the deposit interest will be calculated as the current deposit interest rate. This undoubtedly accounts for depositors again.
Third,Auto-rollover also deprives depositors of additional gift benefits. In order to attract deposits, many small and medium-sized banks will give small gifts such as rice and edible oil to customers who have made counter deposits. However, if you choose to make an automatic rollover, you will not be able to receive these additional benefits.
In contrast, there are many advantages to taking it out early and then restoring it. First, depositors can renegotiate for the latest and most favorable term interest rates offered by banks. This can lead to higher yields.
Second, by going over the counter, depositors can also seize investment opportunities such as buying high-yield bank wealth management and bonds. Finally, taking out and re-depositing is also conducive to strengthening the supervision of funds, and it is more likely to find that the bank's internal problems (such as illegal purchase of wealth management products) are greater.
Therefore, depositors are advised to choose to withdraw and reload. Although this option is a little more cumbersome and requires a few more trips to the bank. However, from the above analysis, it can be seen that this can help savers obtain higher returns, seize more investment opportunities, and ensure the safety of funds. In contrast, the convenience of automatic dumping is limited.
To sum up, the follow-up rollover strategy of fixed deposits should be measured according to the specific cost of time and energy of the individual. Savers who pursue convenience can choose automatic rollover, while savers who pursue maximizing returns are still recommended to choose the operation of withdrawing and redepositing in advance. But no matter which option they choose, depositors need to be vigilant against bank fraud and strive to protect their legitimate rights and interests.