With the continuous development of the financial market, a variety of financial products have emerged in an endless stream, making people dazzled. However, in China, bank fixed deposits are still a favorite way of wealth management for depositors. In bank fixed deposits, there are books and no books, do you know the difference between these two deposit methods? Today, we will analyze the advantages and disadvantages of these two deposit methods in detail to help depositors better choose the deposit method that suits them.
Let's take a look at what a fixed deposit with a book is. A fixed deposit with a notebook refers to a passbook or certificate of deposit issued by the bank to the depositor, which records the depositor's deposit amount, deposit period, interest rate and other information. At the end of the deposit period, depositors can:
Passbook or certificate of deposit to the bank to collect the principal and interest. This deposit method has the following advantages:
1.It is convenient for depositors to check the deposit status at any time. With a passbook or certificate of deposit, depositors can know their deposit balance at any time, making it easier to plan the use of funds.
2.It has a certain role as a certificate. A passbook or certificate of deposit can be used as a certificate for a depositor's deposit, which is conducive to proving the depositor's property status.
3.The interest calculation is clear and straightforward. The deposit period and interest rate will be clearly marked on the passbook or certificate of deposit, so that the depositor can understand how the interest is calculated.
However, there are certain shortcomings in fixed deposits with books:
1.Depositors are required to go to the bank to collect the principal and interest after the deposit period has ended, which may cause inconvenience if the depositor has limited mobility or fails to keep an eye on the maturity of the deposit in time.
2.After the passbook or certificate of deposit is lost, the depositor needs to report the loss and reissue it in time, otherwise the deposit may not be withdrawn normally.
Next, let's take a look at the fixed deposit without a book. Fixed deposit without a notebook means that the bank does not issue passbooks or certificates of deposit, but only records the depositor's deposit information in the system. At the end of the deposit period, the depositor only needs to go to the bank to receive the principal and interest with his identity document. This deposit method has the following advantages:
1.High convenience. Fixed deposits without notebooks do not need depositors to worry about the loss or damage of passbooks or deposit receipts, depositors only need to bring their identity documents to handle related business.
2.Reduce risk. The banking system will strictly manage the deposit information, even if the passbook or deposit certificate is lost, as long as the depositor himself or herself carries the identity document, the deposit security is still guaranteed.
3.Save resources. There are no paper passbooks or deposit slips, which helps reduce paper waste and protect the environment.
However, there are certain shortcomings in fixed deposits without books:
1.It is difficult for depositors to check the status of their deposits at any time. Without a passbook or certificate of deposit, depositors cannot intuitively understand their deposit balance, which may lead to inflexible planning for the use of funds.
2.Interest calculations are relatively complex. Without a passbook or certificate of deposit, depositors need to understand how the bank's interest is calculated in order to have a better grasp of the yield on their deposits.
To sum up, there are advantages and disadvantages of fixed deposits with and without books, and depositors should decide according to their own needs and actual conditions when choosing. For savers who value convenience and environmental protection, a fixed deposit without a notebook may be a good choice; For depositors who pay attention to inquiring about the deposit situation and interest calculation at any time, a fixed deposit with a book may be more in line with the demand.
Dear readers, what do you think about fixed deposits with and without books? Which deposit method do you prefer? Welcome to leave a message in the comment area to share your views and reasons, let us communicate and grow together!