Today is December 17th, let's talk about the Postal Savings Bank, which is quite strong among the six major state-owned banks. They are big names all over the country, with more than 30,000 business outlets. Among all the commercial banks, it is the one with the largest number of branches.
The Postal Savings Bank is also particularly close to the people, and often engages in the kind of activities of "giving gifts with deposits." In particular, some middle-aged and elderly savers like to deposit money here. I always feel that in the Postal Savings Bank, money is saved steadily.
Let's calculate an account, for example, if you take 40,000 yuan to the Postal Savings Bank, save it for two years, and see how much interest you can earn?
First of all, let's talk about the current account. Don't say I didn't remind you, don't give your money a lifetime, that's shit luck. Because the interest rate on demand deposits couldn't be lower. If you deposit a current account, it is equivalent to working for the bank for nothing.
For the Postal Savings Bank, the interest rate on demand deposits is only 0 per annum20%。This is not just a problem of the Postal Savings Bank, all banks have similar interest rates on demand deposits.
Suppose you deposit 40,000 yuan into a current account, and the interest for one year is calculated like this:
40,000 020% $80.
Oh, the survival period of 40,000 yuan, the interest for a year is only 80 yuan. At this rate, if you save for two years, the interest will be 160 yuan. It's a bit unworthy, it feels like you're giving your money to the bank as a tip. The bank saw that you were so generous, and reluctantly gave a little bit of it, which is considered a hardship fee.
Although demand deposits are safe, they can guarantee principal and interest. However, we can't just go for security and ignore interest when saving money. Choosing a demand deposit is like going down the road of "many people are stupid", and you should avoid falling into such a dilemma in the future.
On the other hand, fixed deposits are a very suitable way for us ordinary people to manage their finances. For those who prefer to opt for fixed deposits, some compliments can be given as they are usually down-to-earth and pragmatic people in life. Fixed deposits are simple to operate, without any complicated routines and no pitfalls.
When you choose a fixed deposit, the bank will issue you a fixed deposit passbook with information such as the deposit time, amount, interest rate and maturity time clearly printed on it. You don't need to worry about this, as long as you keep your passbook and password safe, you can rest easy.
In contrast, some people like to participate in financial management, speculation and trading, and are disdainful of people who save for a fixed period. They think that saving time is an old-fashioned way to manage money, and they look down on this old-fashioned way of managing money. However, what is the actual result?
These people have been tossing and turning for years, but often with little success. They are eloquent, but if you look at their return on investment, they all lose a lot. On the other hand, those who choose fixed deposits can easily enjoy their lives after saving, and can earn stable bank interest every year. Is this what is called "antique"? In fact, it is a wise choice, a decision made by a wise man.
If you want to save 40,000 yuan in the Postal Savings Bank for two years, you can consider choosing to save for two years at a time. The interest rate is 2 per annum10%, the interest for two years at maturity is: 40,000 210% 2 1680 yuan. The advantage of saving for two years is that you can determine the interest income for two years. After all, interest rates are falling every year, so you don't have to worry about the interest rate going down if you save for two years at once. Even if the bank rate falls, the interest at maturity will not decrease.
Of course, there is a disadvantage of saving for two years, which is a relatively long term. When we save money, we think about the expiration date, but no one knows what will happen in the future. If you need money urgently on the way, you can withdraw your fixed deposit in advance, and the interest will be settled according to the current interest rate.
In addition to the two-year fixed, you can also consider a one-year fixed. The interest rate of the one-year fixed deposit of the Postal Savings Bank is 1 per annum85%。This interest rate is slightly higher than that of other large state-owned banks. Moreover, the Postal Savings Bank also has a discount for gifts, which attracts many middle-aged and elderly depositors.
The interest on a one-year deposit is: 40,000 185% 740 yuan. According to this interest rate, if you continue to redeposit after the expiration period, you can still get 740 yuan of interest. The total interest for two years is 1480 yuan.
The interest rate on deposits in our bank is falling every year, which leads to the fact that if you turn over the deposit every year, the interest will inevitably decrease year by year. If you make a rollover for two consecutive years, you will end up losing 1,480 yuan in total interest.
In contrast, a lump sum deposit for two years has its advantages, locking in two years of interest income. In addition, in terms of interest rate, it is also better than year-on-year rollover. Taking 40,000 yuan as an example, if you choose to deposit it for two years at a time, you can get 1680-1480=200 yuan more interest than if you redeposit it year by year. However, the disadvantage is that it requires a longer period and is less flexible.
The advantage of year-on-year rollover is that it is more flexible, but the disadvantage is that it has lower interest rates and is vulnerable to interest rate cuts. Therefore, when choosing a deposit period, it is important to carefully choose the most suitable term according to your actual situation. If it is determined that the funds can be used without going for three years, a lump sum deposit for a fixed period of three years may be considered. If you are not sure whether you need to use the funds in three years, it is safer to choose to transfer them year by year.
In addition to the above deposit methods, PSBC, as a major state-owned bank, provides a variety of deposit products. Some deposit products carry certain risks, so you should consider carefully when choosing, after all, safety is the most important thing. For example, large-amount certificates of deposit are a way to guarantee principal and interest, the interest rate is relatively high, and it can be transferred halfway, but it needs to be noted that there is an amount threshold, and the minimum purchase is 200,000 yuan. In addition, savings bonds are also a choice of guaranteed principal and interest, and there is no amount threshold, and the minimum purchase amount is only 100 yuan.
High interest rates and flexibility in withdrawal are one of the major advantages of savings bonds, although the maturity is slightly longer, the shortest is three years. But for the case of only 40,000 yuan and only two years saved, neither is applicable.
One thing to note: at this time of year, the Postal Savings Bank will join hands with insurance companies to promote insurance. If you choose to deposit money at PSBC during this time, the bank manager will highly recommend a variety of insurance products, regardless of the purpose of your deposit.
Due to the huge rewards of selling insurance and the fact that it is a political task, it is inevitable that some bank managers will only focus on selling insurance products for the sake of money or task completion, and ignore the sales process. In a recent example, a branch of the Postal Savings Bank in Beijing was fined 150,000 yuan by the Beijing branch of the China Financial Regulatory Bureau (formerly known as the China Banking and Insurance Regulatory Commission) for allegedly defrauding depositors in the sale of insurance products.
While the insurance product itself does not actively deceive, the person selling the insurance does not. If you choose to deposit money at the Postal Savings Bank during this period, you must be careful. If you're considering buying a bancassurance product because of the high interest rate** or a gift from your bank, you may feel happy and sad when you buy it. When it comes time to surrender the policy and withdraw the money, it may feel extremely painful.