With the continuous development of the financial market, bank deposit products are becoming more and more abundant. Among the many deposit methods, fixed deposits have always been favored by depositors because of their stability, security and high yield. However, when choosing a fixed deposit, have you noticed the difference between having a book and not having a book? Today, let's take a closer look at the differences between the two to help you better choose the right deposit method for you.
Let's take a look at the basic concept of fixed deposits. Fixed deposit refers to a deposit method in which a depositor deposits a certain amount of money in the bank, agrees on the deposit period, and withdraws the principal and interest after maturity. On this basis, the difference between a fixed deposit with a book and a fixed deposit without a book is mainly reflected in the following aspects:
1.Deposit certificates are different.
If there is a notebook time deposit, the bank will issue a passbook or deposit certificate to record the basic information of the depositor, the deposit amount, the deposit period, etc. On the other hand, there is no such physical certificate for fixed deposits, and all deposit information is stored in the bank's system in the form of electronic data.
2.Deposit methods are different.
Fixed deposits with notebooks usually need to be handled at the bank counter, and depositors need to provide ID cards, bank cards and other relevant documents. On the other hand, fixed deposits without a notebook can be handled through electronic channels such as online banking and mobile banking, which is convenient and fast.
3.Deposit rates are different.
In China, the interest rate of fixed deposits with books and fixed deposits without books is the same. However, it is important to note that interest rates may vary from bank to bank, so savers should shop around and choose a bank with a higher interest rate.
4.Deposit risk is different.
Due to the electronic data storage of bookless fixed deposits, there are certain data security risks. Once there is a problem in the banking system, it can lead to the loss of depositors' deposit information. On the other hand, a fixed deposit with a notebook is relatively safer, and even if there is a problem in the banking system, the depositor can prove his deposit rights and interests by virtue of the passbook or certificate of deposit.
5.Deposit flexibility is different.
During the deposit period, the fixed deposit without a book can be withdrawn in advance or partially withdrawn through online banking, mobile banking and other channels. On the other hand, fixed deposits with a book are relatively less flexible, and depositors need to go to the bank counter to handle relevant business.
When choosing a fixed deposit, how should savers weigh the difference between having a book and not having a book? Here are a few suggestions for your reference:
1.Security requirements: If you pay more attention to the security of your deposit, you can choose to have a book fixed deposit, because it has a physical certificate, and even if there is a problem in the banking system, the deposit rights and interests can be protected.
2.Convenience needs: If you are looking for convenience, a bookless fixed deposit is a good choice. Handled through electronic channels, it saves time and effort to travel to and from the bank.
3.Deposit amount and term: For large deposits, you can choose to have a book fixed deposit for better management and monitoring of funds. For small deposits, fixed deposits without a book are more advantageous.
4.Interest rate sensitivity: If you are sensitive to interest rates, you can pay attention to the fixed deposit interest rates of different banks and choose banks with higher interest rates.
When choosing a fixed deposit, depositors should weigh the difference between having a book and not having a book according to their own needs and actual situation. At the same time, it is also important to pay attention to the safety, convenience and interest rate level of the bank to seek the best interests for yourself.
What are your thoughts on the choice of fixed deposits? Welcome to leave a message in the comment area to share your views, and we will discuss and exchange together. Perhaps your opinion will help more sharsh savers. Don't forget to learn more about finance!