Postal Bank was established for a short time and was only listed in 2007, but its development speed was not slow. It took only more than ten years to become one of the six state-owned banks, with a total asset scale of up to 12.59 trillion.
The main reason why Postal Bank has developed so fast is that it was established on the basis of the original postal savings management system. Backed by Postal Group allows Postal Bank to have the largest number of outlets. According to data, the Postal Bank currently has nearly 40,000 outlets for its outlets.
Because the postal bank is a state-owned bank, it is also deeply trusted by depositors. So far, it has served more than 600 million individual customers. Many depositors choose postal banks to deposit money, especially depositors in rural areas. Other state-owned banks rarely set up outlets in rural areas, and small and medium-sized banks are worried about security, so postal banks have become their first choice for depositing money.
Then if you deposit 50,000 yuan in the postal bank, deposit it for 5 years and then leave it for another 2 years, can you withdraw 280,000 yuan? Is it cost-effective? If, literally, 50,000 yuan can be converted into 280,000 yuan in just depositing it in the postal bank for seven years. This is not very cost-effective, and the interest rate has increased several times. Is this true?
As shown in the figure below, this is a good start event launched by a postal bank branch in a certain district of Shanghai in 2022. From a purely literal perspective, this event is quite cost-effective, but if you think about it carefully, you will find that there are also pitfalls inside.
This product does not mean that it only saves 50,000 yuan, but that it needs to save 50,000 yuan every year, and for 5 consecutive years, and then for another 2 years. That is to say, the first 50,000 yuan is required to save 7 years, the second 50,000 yuan is required to save 6 years, the third 50,000 yuan is required to save 5 years, the fourth 50,000 yuan is required to save 4 years, the fifth 50,000 yuan is required to save 3 years, and then wait for another 2 years to receive principal and interest of 280,000 yuan.
In this way, we have to invest a total of 250,000 yuan in principal. The total interest obtained in this 250,000 yuan in the past few years is only 30,000 yuan. If calculated based on this, the annualized rate of return is less than 2.5%. Do you think it is still cost-effective?
Although the bank deposit interest rate has been lowered in the past two years, the current three-year deposit interest rate of state-owned banks is still around 3.25%, and small and medium-sized banks can still reach about 4% for three or five-year periods. This kind of deposit term is as long as 7 years, and the annualized yield rate is less than 2.5%. Do you think it is cost-effective?
In fact, people who have deposited a fixed term know that it is impossible for a bank fixed deposit to be deposited in a fixed term. The basic principle of deposit is "voluntary deposits, free withdrawals, interest-bearing deposits, and confidentiality for depositors." In other words, the depositors want to save as much as they want. No deposit product requires depositors to deposit 50,000 yuan every year and have to deposit for 7 consecutive years, so this product is not a deposit.
There are hard regulations on how much money to save every year, which is more like an insurance product, and it just so happened that this was issued by the Postal Bank, which makes us more sure that this is an insurance product. Because in recent years, you can often see news about postal banks' "deposits turned into insurance" and many middle-aged and elderly depositors have suffered greatly.
Insurance is insurance, deposit is deposit, this cannot be confused. We can withdraw deposits any time we want, at most, we will lose a part of the interest, but bank insurance products are different. As long as we want to withdraw in advance after the 15-day hesitation period, we will not only have a penny of interest, but also a large part of the principal will be lost, which is not very cost-effective.
Deposit becomes insurance is not only the postal bank, but other banks also have this kind of product. Of course, it does not mean that banks cannot sell insurance products, but the way of selling is wrong. Many bank employees often exaggerate the benefits of bank insurance products in order to get commissions, but the actual returns are often not as good as bank fixed deposits, and they do not inform depositors that the principal will be deducted if the withdrawal in advance is deducted, which also causes depositors to be disgusted with bank insurance products.What do you think about bank insurance products sold by banks? Is it appropriate?
