After the maturity of the fixed deposit, be cautious about withdrawing money, and bank insiders remind you not to act rashly!
Many people think that the international economic environment is incompatible with their own small life, and they only need to keep the money in their hands, but this thinking may be very wrong.
I think in recent years, everyone has this feeling, with the economic downturn, people have more and more money in their hands to spend more and more, not to mention that money is also difficult to earn, so more and more people like to keep money in the bank in case of emergency.
In our country, saving money seems to have become an unforgettable conscience, and people are looking for a stable state of mind and life security for themselves.
We have fixed deposits and demand deposits, and the amount of money we deposit is not fixed, and the interest we receive is not consistent, and how this money is affected when the time deposit matures becomes a problem.
Some people may forget that their fixed-term contract expires, and that's when they need to auto-renew their service. There is no need to withdraw or deposit money, and there are no additional formalities, just apply for a renewal service.
i.Benefits of Fixed Deposits.
With the development of the times, the economic market has become more and more variable, and the introduction of various policies has also made the economic market more and more complex. Whether a fixed deposit is kept or withdrawn at maturity involves a series of financial issues.
As the largest international economic system, the changes in the policies of the United States have shaken the markets of many countries, and the emergence of inflation has made the economic environment in recent years very unsatisfactory.
Some may think that, as ordinary citizens, they are busy with their lives and work, and what happens in the international economic environment has nothing to do with them.
All you can say is that you don't see the intrinsic connection between the financial markets as a whole. As a traditional way to save money, how do you choose a fixed deposit?Your decision is related to the current situation in the financial markets.
Nowadays, there are many young people who gradually realize that there will always be a sum of money that is consumed unconsciously every month, and it is not impossible to force themselves to save a sum of money every month.
The reason why fixed deposits are widely favored is that they are relatively stable, have high interest rates, and can provide depositors with the best returns.
The interest rate set by each bank varies, but the deposit term and predetermined interest rate are basically fixed.
This restricts everyone's willingness to spend, and high interest will be charged after maturity, which is also a disguised way of financial management.
The growth in the number of fixed deposits has also given a huge boost to the country's economy, as banks can take the money and lend it and then charge high interest rates, satisfying the desire to make money from it.
However, changes in interest rates, market uncertainty, your personal financial situation, and your future plans for your money all determine what you should do with your fixed deposit when it matures.
Interest rates have been falling in recent years, which is a measure taken by the state to promote consumption, so the number of people saving in installments is getting smaller and smaller, of course, we have to decide according to our actual situation.
ii - To take or not to take?
For those who have deposits, we should pay more attention to the change in interest rate, because the change in interest rate directly affects the final yield of fixed deposits. Changes in interest rates are directly related to changes in the economy as well as monetary policy.
After the maturity of a fixed deposit, we must continue to store a steady interest income, taking into account its yield and safe balance.
Now that many investors are in the wait-and-see phase, let alone the general public, fixed deposits are very suitable for those who are not good at investing and have a low risk tolerance.
There are no other ways to make a fixed deposit, and there is no need to do any additional operations, as long as you can deposit your money in the bank with confidence. However, everyone should remember that when doing business, you should never buy it as a financial product.
As we mature, we must first consider our own financial needs. If you think that the funds at that time are insufficient, we are advised to arrange our own funds reasonably.
In the past two years, everyone knows very well that with the continuous invasion of various viruses, many families have been suffering from minor illnesses and have to rush to the hospital almost every once in a while.
This increases the additional expenses of the family, the education of the children and the necessary expenses of the family, which should be budgeted for in advance.
In the case of unstable income, it makes more sense to withdraw funds when a fixed deposit matures, both to help us cope with unexpected expenses in our lives and to avoid not being able to withdraw funds in an emergency.
As we have already mentioned, it is also necessary to take into account the development of interest rates and flexibly decide whether or not to continue depositing fixed funds based on a corresponding judgment of future changes in the economic environment.
If you think there is still room for interest rates to rise, you can consider depositing again over a period of time, so that the interest income will be more stable;If you're unsure, you can deposit a small amount of money for a while.
Under the premise that the economic environment is not ideal, many people think of starting a business, and at this time, there are more investment opportunities in the market.
Nowadays, many financial products have high yields despite their high risks, such as ** and ** yielding slightly higher than fixed deposits.
If you want to take risks, you can withdraw your money to buy stable financial products, but you must be cautious when investing and do a good job of risk assessment.
iii - Reminder from a bank insider.
No one is afraid of having a lot of money, so most people are looking for ways to make more money in their lives, and banks, as national financial institutions, do have a unique lead.
It's just that a lot of secrets can't be disclosed, and you can selectively adopt some kind reminders from bank staff, how to make fixed deposits more valuable, and have professionals analyze them for you.
When choosing a fixed deposit, there are tenors such as one, three, five, and ten years. In fact, long-term savings are not recommended because interest rates are always changing and you don't know if they will rise in a few years.
Once deposited, the interest rate will be the prevailing rate, but the interest rate may be lower for short-term deposits, depending on your choice.
Deposits that are too long can lead to inflexible funds that are not better prepared for unexpected situations.
The number of one-year and three-year term deposits is relatively high, and the interest rates are reasonable.
Once you have applied for the Fixed Deposit service, you will be advised to activate the auto-renew feature to ensure that your funds are not restricted.
This activity can automatically roll over the principal of the maturity time deposit, so that the funds have due liquidity, which not only protects everyone's income, but also avoids the problem of capital precipitation, which can be said to be thoughtful for depositors.
iv.Is it a loss or a gain?
Now more and more people are complaining about the bank**, a little carelessness will cause a certain economic loss to themselves, the automatic transfer business is indeed convenient for depositors, but is it really good for us?
Through understanding with the bank staff, I learned that the automatic rollover business may leave less money to depositors, but the interest given by the bank will be lower, and it is better to take out the money and deposit it again, and the interest will be slightly higher.
The difference in interest rates between the two is not large, maybe only a few percent, which can mean tens for someone with fewer deposits, but a huge difference of several thousand for someone with more deposits.
So, while an automatic rollover may seem convenient, there's a good chance that it will end up hurting the savers themselves, depending on their wishes and choices.
There are some drawbacks to autopay, and it's hard for non-specialists to figure out the little mysteries. The public has learned that these transfers can only deposit the amount of the principal.
This means that when a fixed deposit matures, the previously earned interest will not be automatically transferred to the account, the automatic transfer will only be transferred to the principal, and the previously earned interest will be credited as a mobilization fee.
In this case, it also means that your income will be reduced, the deposit will be withdrawn and re-deposited when it matures, and you can deposit as much as you want, with interest calculated as a percentage of the deposit amount.
We are living in an era where profit is paramount, and many people may choose to sacrifice their professionalism for the sake of small profits, and in recent years, it has been common for bank staff to be blackmailed.
Automatic transfer does not require depositors to go to the bank to handle it, and some bank employees will use wealth management products to buy this money for you, and wait until everyone finds out that the money cannot be withdrawn, and the product cannot be returned.
This means that the security of the deposit cannot be guaranteed, and if you go to the relevant company, when the staff wants to buy a wealth management product for you, we can find out first.
Through the warning of bank insiders, I think everyone realizes that after the maturity of the fixed deposit, it is best to withdraw and re-deposit, so as to ensure the safety of depositors' deposits, and at the same time let us have a clearer and more intuitive understanding of the annual income.
Conclusion. For the allocation of funds, we must have a reasonable plan, it is recommended that you have the remaining assets stored on hand on hand, but you must keep the liquidity on hand, in this regard, it is especially important to make informed decisions.
We must have a clear understanding of our financial situation, and when choosing a storage method, we must also have a reasonable assessment of the market and dispose of assets reasonably to obtain stable returns.
Banks play an important role in the financial system and should be the little assistants of the public's financial planning, and I just hope that some of them will not forget their responsibilities.