Bank fixed deposit is a common way of financial management, which refers to depositors depositing a sum of money in the bank and agreeing on a fixed period, within which they cannot withdraw at will, otherwise they will lose interest. The advantages of bank fixed deposits are high security, stable returns, and low risk, which are suitable for depositors who do not want to take too much risk and want to maintain and increase their value.
However, you may not know that there are actually two forms of bank fixed deposits, one is with a book and the other is without a book. What exactly is the difference between these two forms?What impact will they have on the safety of depositors' funds and their earnings?
Having a book deposit means that when depositors deposit a fixed deposit in the bank, they will get a paper certificate, which is what we often call a passbook. The passbook will record the depositor's name, account number, password, deposit amount, interest rate, maturity date and other information, as well as the flow details of each deposit and withdrawal. For those older depositors, who are not very familiar with network technology and like physical certificates, having a book deposit is their first choice. There are several advantages to having a book deposit:
Depositors can look through their passbooks at any time to clearly understand the movement of their funds without worrying about forgetting or making mistakes. As long as depositors hold their passbooks and identity documents, they can conduct business in any bank with the same name in the province (or even the whole country), regardless of geographical restrictions.
In addition, depositors need to present their passbook and password every time they deposit or withdraw money, which can effectively prevent others from fraudulently using or stealing and adding a layer of protection.
Of course, there are some disadvantages to having a book deposit:. A passbook is a paper voucher that is susceptible to moisture, wear, fading or loss, and if the passbook is damaged or lost, the depositor needs to go to the bank in time to reissue or report the loss, otherwise it may cause unnecessary trouble. Depositors need to go to the bank counter every time they deposit and withdraw money, waiting in line, which is time-consuming and labor-intensive, and may not be able to complete the processing in time if there is an emergency.
Deposit without a book means that depositors handle bank fixed deposit business through mobile banking or bank cards, etc., without physical certificates, and only need to remember their account number and password. This method is relatively more popular with young people who want to complete deposits and withdrawals in this way. The most basic requirement is to be able to use a smartphone, which is obviously not friendly to older people.
Depositors can pay attention to their deposit dynamics in real time through mobile banking or bank cards, and can also query historical information, which is relatively convenient. You only need to carry your mobile phone or bank card to complete the transaction, so you don't have to worry about losing or damaging your passbook, and you don't have to queue up at the bank counter.
However, there are also certain risks associated with depositless deposits. Since the no-book deposit is completed through network technology, there are certain network security risks. Some people with bad intentions may steal depositors' funds through network technology, especially for the elderly, because they do not understand the Internet, they often get scammed or transfer deposits.
Since there is no physical certificate for a bookless deposit, depositors may have a vague idea of their own capital loss, and they will not have much pressure even if they spend frequently. This can lead to savers becoming "moonshiners" who are unable to save and manage their finances effectively.
If you save money to preserve and increase your value, and you want to be able to keep track of the changes in your funds, then a book deposit may be more suitable for you. If you're saving money for emergencies and want to be able to handle business quickly and easily, then a bookless deposit may be more suitable for you.
If you are a person who likes physical certificates, is not very familiar with network technology, and pays more attention to security, then having a book deposit may be more suitable for you. If you are a person who likes digitalization, is proficient in network technology, is more fashionable, good at network technology, and pays more attention to convenience, then no book deposit may be more suitable for you.
Finally, it is necessary to be flexible in adjusting according to market conditions and bank policies. In fact, there is not much difference in the interest rate between the two forms of bank fixed deposits, which are in accordance with the benchmark interest rate stipulated by the central bank.
However, sometimes banks will launch some preferential activities or value-added services in order to attract customers, such as interest rate hikes, gifts, insurance, etc. These activities or services may have different requirements or restrictions for booked and bookless deposits, such as only for a certain form of deposit, or a certain amount or term, etc. When choosing, you should pay attention to comparing the preferential conditions and details of each bank, and choose the one that suits you best.
Where is the "gap" between "having a book" and "not having a book",This is a seemingly simple,But in fact it is a complex problem。 Different forms have different characteristics, advantages and disadvantages, and suitable groups. Which form of bank fixed deposit would you prefer?