The conscientious advice of bank managers Why do you still choose bank deposits after the interest rate cut in 2024?
From 2023 onwards, state-owned banks have entered a continuous cycle of interest rate cuts, with the three-year deposit rate of major banks falling below 3% and the one-year deposit rate falling below 2% at a historic low in early February this year.
In the face of the continuous reduction of deposit interest rates and the increase in inflationary pressure in recent years, many savers have begun to worry that keeping their money in the bank may not be able to withstand inflation, so more and more people are using their money for other financial purposes without considering the rate of return.
However, in the face of this choice, a bank manager gave some conscientious advice: even if interest rates fall, it will still be necessary to keep money in the bank in 2024. The main reasons are as follows:
The vast majority of ordinary families.
Lack of investment experience.
Although the investment market has been popular for many years, for the vast majority of ordinary families in China, there is still a lack of sufficient knowledge and experience in investment and financial management.
Instead of risking the loss of principal and choosing to invest in high-yield varieties, it is better to honestly deposit money in the bank, which not only ensures the safety of the principal, but also obtains stable interest income.
The average per family has.
Savings are needed.
In recent years, with the recession of the market environment, the pressure on ordinary families to deal with unemployment, illness, pension and other problems is increasing.
And when a crisis comes, it is inevitable that money will be needed to maintain a normal life. If funds are withdrawn from banks for expenditures or other risky investments because of low interest on bank deposits, it will be difficult to meet these expenses in the future, or even more difficult.
Ordinary families. More benefits of saving money.
For the average family looking for a higher interest rate, our advice is to put their money in a fixed deposit, which will benefit you in many ways:
1.The time deposit threshold is low.
Different from other deposits and wealth management with high investment thresholds, time deposits only require a first deposit of 50 yuan, which is more suitable for ordinary families. Unlike treasury bonds, which are generally difficult to obtain, and unlike large-denomination certificates of deposit, which have a minimum deposit threshold of 200,000 yuan;
2.Increase the flexibility of time deposit savings.
Currently, major banks offer fixed deposit maturities ranging from 3 months to 5 years, and depositors can decide which tenor to choose according to their circumstances. In general, the longer the deposit term, the higher the interest rate.
However, the biggest benefit of this fixed deposit for young people is not limited to income stability, especially for those young people who spend lavishly, they can also develop good long-term saving habits through this saving method, so as to manage to accumulate funds for future life.
3) Stable interest income on fixed deposits.
Not only is fixed deposit more flexible, but also has a higher interest rate and very stable interest income, which is why many savers prefer this investment method.
A few reminders for depositors.
Of course, we also have some caveats for savers looking to put their money in a fixed bank deposit in 2024:
1): Small and medium-sized banks are preferred because of higher interest rates.
At present, the six major state-owned banks are not short of deposits, which is why they keep deposit rates very low. And depositors don't have to deposit their money in the big six state-owned banks, they can also deposit their money in small and medium-sized banks. In fact, deposit rates for small and medium-sized banks are slightly higher than those of the six major state-owned banks.
However, when depositing money in small and medium-sized banks, you should also pay attention to one point, you should choose to join the deposit insurance bank for savings, the deposit insurance mark means that after depositing money in this bank, there is a maximum of 500,000 yuan of principal and interest compensation protection, once the bank is insolvent, bankrupt, etc., the depositor's principal + interest is within the maximum amount of 500,000 yuan, and you can get full compensation.
Item 2: Don't buy money blindly.
Depositors deposit money in the bank, if they encounter employees recommending wealth management products, ** insurance and other banking products, do not blindly choose to buy, and consider the risk first.
Because even if this bank joins the deposit insurance program, the loss of bank financing in the future will be borne by the investors themselves.
Investment**Over the years, I have repeatedly heard the news of professional investors losing money on the Internet, and most financiers have also lost a lot of money, and they are not recommended to invest rashly for people who do not have professional financial knowledge.
In addition, although the participating insurance of some insurance companies currently has a higher rate of return, it is also not suitable for savers due to its long insurance closure period and poor liquidity.
Therefore, savers should clearly consider their risk tolerance when purchasing various financial products.
Item 4: Be wary of five-year fixed deposits.
Some savers are aware of the higher interest rates on five-year fixed deposits and therefore opt for a term of five years or more. However, there are two things that one should know beforehand when choosing this long-term savings method:
First, depositors deposit money into a 5-year fixed deposit, although they can get a higher interest income, but if they need to withdraw it halfway, all the interest will be calculated according to the current deposit rate, and the depositor will suffer a huge interest loss
The other is to deposit money in a small or medium-sized bank with a fixed period of 5 years. If small and medium-sized banks fail during this five-year period, depositors will face some unnecessary trouble.
Therefore, it is better to have a deposit period of 1-3 years, which is safer.
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