This interest rate cut is undoubtedly a big blow to the majority of depositors. However, it is not easy to get a higher interest after the rate cut. So, how can we get higher interest after the big six banks cut interest rates?
First, let's take a look at fixed deposits. Among the six major banks, the interest rate on fixed deposits is generally relatively high. However, due to the relatively long term of the fixed deposit, if you withdraw it early, the interest will be calculated according to the current interest rate, so you will lose a lot of interest. Therefore, when choosing a fixed deposit, you need to choose the right term according to your actual situation.
Second, let's take a look at wealth management products. Compared with fixed deposits, wealth management products are more flexible and have higher yields. However, when choosing a wealth management product, you need to pay attention to the risks and the attributes of the product. Generally speaking, the higher the risk, the higher the yield, but if the principal is not safe enough, then there is no point in the return being high. Therefore, you need to choose the right financial product according to your risk tolerance and capital situation.
Finally, let's take a look at savings bonds. Savings bonds are a relatively safe way to invest, and the income is relatively stable. However, because the timing and quantity of savings bonds are limited, and the purchase threshold is relatively high, not everyone can buy them.
To sum up, if you want to get higher interest after the six major banks cut interest rates, you need to choose the right investment method according to your actual situation. At the same time, you also need to pay attention to asset allocation and risk management to ensure that your portfolio can grow steadily.