On January 29, the interest on ICBC deposits was updated to 250,000 for five years
Recently, China's financial reform has started a new chapter, the relevant departments of the function of the provisions, foreign capital can own 100% of the bank's equity, this is another banking reform, since the national level allows the existence of private banks, the future of the national banking industry will present a three-legged situation, state-owned capital, private capital, foreign capital, each representative of a place.
For ordinary people, even with low deposit rates, the four major state-owned banks are still the most attractive. The first thing to do when saving money is to be safe, and if you can't guarantee security, you can't talk about anything else. The Industrial and Commercial Bank of China (ICBC) is the first of the four major state-owned banks, ranking first in the world in terms of business volume and asset scale.
Suppose we have a deposit of 250,000 yuan, and we deposit various deposits into ICBC, how much interest can we get when it matures? This article calculates for you.
ICBC's current demand deposit interest rate is 02%, the cumulative income that can be obtained by depositing 250,000 for five years is.
The five-year deposit has only 2,500 yuan of income, which is a little less, but considering the high liquidity of demand deposits, it can be withdrawn, consumed and transferred at any time, and it is normal for the interest to be less.
ICBC fixed deposits can be divided into six categories: three months, six months, one year, two years, three years and five years according to the different deposit periods, and the interest rate after depositing 250,000 yuan is calculated as follows.
1.Make a 3-month fixed deposit.
The annual interest rate for a three-month fixed deposit is 115%, 250,000 accrued interest needs to be repeated several times to reach a five-year period:
2.Make a 6-month fixed deposit.
The annual interest rate for a 6-month fixed deposit is 135%, while 250,000 must be deposited multiple times to reach a 5-year period and accrue interest:
3.Make a one-year time deposit.
The annual interest rate for a one-year fixed deposit is 145%, 250,000 must be deposited 5 times repeatedly to reach the 5-year period and accrue interest:
4.Make a two-year fixed deposit.
The annualized interest rate for a two-year fixed deposit is 165%, after a total of six years of three deposits, it cannot be directly calculated as a five-year term, so we first calculate the total interest for six years, and then convert the interest into a five-year term:
250,000 * 1.65% *6 = 24,750, i.e. the five-year interest rate is 20,625
5.Make a three-year time deposit.
The annualized interest rate for a three-year fixed deposit is 195%, after two deposits for a total of six years, it cannot be directly calculated as five years, so we first calculate the total interest for six years, and then convert the interest for five years:
250,000 * 1.95% *6 = 29,250, i.e. the five-year interest rate is 24,375
6.Five-year fixed deposit.
The five-year term deposit has an annualized interest rate of 2% and will earn interest at maturity after five years
At present, the threshold for large-value certificates of deposit is very low, and you can purchase them with 200,000 yuan of funds, and the same is true for ICBC's large-amount certificates of deposit, and the income from purchasing 250,000 yuan of large-amount certificates of deposit of different maturities is much higher than that of deposits of the same maturities, which are calculated as follows.
1.Buy large certificates of deposit for one month and three months.
ICBC has an annualized interest rate of 1 for one-month and three-month certificates of deposit5%, and the cumulative income after multiple purchases in five years can reach 250,000 yuan:
2.Purchase a 6-month large certificate of deposit.
The annualized interest rate of ICBC's 6-month large-denomination certificate of deposit is 16%, you can get a cumulative return of 250,000 after multiple purchases in 5 years:
3.Purchase a one-year certificate of deposit.
The annualized interest rate of ICBC's one-year large-denomination certificate of deposit is 18%, and a cumulative return of 250,000 after multiple purchases in five years:
4.Purchase a two-year certificate of deposit.
The annualized interest rate of ICBC's two-year large-denomination certificates of deposit is 19%, for a total of six years, with an annualized interest rate of 1 after three purchases9%, which cannot be directly consistent with the calculation result of the five-year term, so we calculate the total interest for the six-year period first, and then convert it to the interest for the five-year term
250,000 * 1.9% *6 = 28,500, i.e. the five-year interest rate is 23,750
5.Purchase a three-year certificate of deposit.
The annualized interest rate of the three-year certificate of deposit of ICBC after two purchases is 235% for a total of six years, which cannot be calculated directly according to the five-year term, so we calculate the total interest rate for the six-year term first, and then convert it to the interest for the five-year term
250,000 * 2.35% *6 = 35,250, i.e. the five-year interest rate is 29,375
Large certificates of deposit have the same security as fixed deposits, but with a higher yield. In addition, there is another advantage of large-denomination CDs, that is, they are more flexible, and they can be transferred with principal and interest, without having to lose all the interest due to early withdrawal. How do I transfer it? What is the yield? It depends on the specific ** of the transfer, and to illustrate the problem, I will give you an example.
Suppose Li Si spent 250,000 yuan at ICBC two years ago at an annualized interest rate of 19% purchased a two-year certificate of deposit, and after one year of purchase, they needed to use money, so they were 25The ** of 40,000 yuan was sold to Zhang San, and the income and investment yield on both sides were calculated as follows.
Li 4: Sell at 254 000 after 250 000 ** a year, make a profit of 4 000, and the annual return on investment is 4 000 250 000 = 16%。
Zhang San: 2540,000 yuan**, a year later, the large-amount certificate of deposit expires, and Zhang San can get 25950,000 yuan, income of 5500 yuan, annual investment rate of return of 5500 254000=217% 。
The essence of this is that Zhang San loses a small amount of income in exchange for the right to receive cash inflows in advance, and both the buyer and the seller have achieved their goals.
If Li Si buys a fixed deposit instead of a large certificate of deposit, then the price of obtaining funds in advance is the loss of all the interest on the fixed deposit, at 0With a 2% interest rate settlement, you can only get 500 per year.
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