Postal Savings Bank As one of the six state-owned banks, its deposit interest rate is indeed higher than that of the other four state-owned banks, and it is also unique in terms of discounts such as deposit gifts and cash rebates. Just like the one-year interest rate mentioned in this question is 2.1%, and 80 yuan in cash is returned for deposits of 10,000 yuan, which is equivalent to 2.9% of the annual comprehensive interest rate, which is 93.33% higher than the benchmark interest rate. This is an interest rate that even the personal large-denomination certificate of deposit is less than that. Therefore, you can not only save but also seize the time.
▼The above picture shows the latest domestic deposit interest rate table in 2019
According to the above data, the central bank's one-year benchmark interest rate is currently 1.5%, and the four major state-owned banks are basically 1.75%, which is 16% higher than the benchmark interest rate; and the Postal Savings Bank one-year interest rate in the title is 2.1%, which has risen by 40% on the benchmark interest rate. In addition, depositing 10,000 yuan in cash back, which is equivalent to an increase of 0.8% of the annualized interest rate, so the comprehensive annualized interest rate reaches 2.9%.
So, from the perspective of returns, this interest rate level is indeed very high. At least it is an outstanding interest rate compared to other large state-owned commercial banks and national joint-stock banks. Even compared with local small and medium-sized banks, it can be said that it is not inferior.
From the perspective of security , since it is a one-year fixed deposit product, it is a general deposit. It is included in the protection scope of deposit insurance regulations according to regulatory requirements. 100% compensation is implemented within 500,000 yuan of principal and interest, so you can also rest assured.
It is worth mentioning that although Postal Savings Bank has become one of the largest state-owned commercial banks in February this year, it is still somewhat far from other major banks in terms of scale and net profit indicators. Therefore, Postal Savings Bank has pressure to attract deposits and is more willing to engage in such high-cost liabilities. So, everyone doesn’t have to be obsessed with why such high interest rates are.
In short, as long as it is confirmed as a one-year fixed deposit product, I think such a profit is quite good. But is there a product with a higher interest rate than this one? In fact, there are also some. For example, the starting interest rate of "Blue Beibei" launched by Blue Ocean Bank has reached 3.7%, one-year or above and up to 4.7%, and three-year interest rate is 5.0%.
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