is here for the New Year. With the arrival of year-end bonuses, year-end dividends, and sales payments, many people's wallets have finally bulged up...
At the same time, banks are gritting their teeth to prepare for the year-end assessment, and this year's bank deposit-seeking war is not late: some banks raise interest rates, some launch new user-exclusive yields, Beijing, Shanghai, Guangzhou and Shenzhen exclusive products, and some give trolley boxes as long as they deposit 5,000 yuan.
Image source: Visual China
Daily Economic News (WeChat ID: nbdnews) The reporter visited more than 10 banks and found that major banks had their own tricks; financial products, structured deposits , large-denomination certificates of deposit, foreign exchange and foreign currency enjoy high interest rates and other products are dazzling.
fixed deposit of 5,000 yuan for trolley box
year-end approaching, and the smell of gunpowder war at the end of the year is getting stronger. The reporter visited many banks and issued many bank halls suddenly filled with gifts, ranging from corn oil to fruit juicers, just like the arrangement of troops on the eve of a war.
reporter met many financial managers at outlets and asked to add friends through WeChat on the spot. Recently, the reporter also received many invitations from financial managers through WeChat, including group buying and financial management, bank knowledge classrooms, etc.
"There are only a few days left for group buying this year. I suggest you try it." A financial manager of a large state-owned bank sent a QR code for group subscription to reporters through WeChat for several consecutive days. "Our bank has a much higher income than other banks. Our bankers are buying this themselves, so you can rest assured."
In addition to recommending reporters to purchase products directly from the start, there are financial managers who choose roundabout routes.
Image source: Visual China (Pictures and texts are not related)
A joint-stock bank financial manager invited reporters to sign up for the bank knowledge class on WeChat. The financial manager said that the bank will hold a gold jewelry knowledge class in the near future, teaching how to identify gold and K gold jewelry. "There are also delicious fruits and snacks on the spot." At the same time, the financial manager also said that reporters can invite friends to participate in the small knowledge class, and there are jewelry appreciation on the spot. If you are willing, you can also participate in the bank's fixed deposit of 5,000 yuan for trolley boxes.
large-denomination certificates of deposit interest rate rises by 52%
If giving gifts is just a traditional "military art", the design of product yield rate will test the bank's level even more.
Many banks visited by the reporter said that although the yields of wealth management products will be raised at the end of the year, the interest rates after the increase this year are not as high as those in previous years.
In addition to the rising interest rates of financial products, major banks will also raise interest rates for products such as time deposits, large deposits and structured deposits at the end of the year.
A large-denomination certificate of deposit recently launched by a joint-stock bank, with an interest rate of 47% from 200,000 yuan; a interest rate of 500,000 yuan increased by 48%; and a interest rate of 1 million yuan increased by 52%.
In addition to using interest rates to attract investors, some banks will launch exclusive yields for new users to attract new investors' attention. When a financial manager of a foreign bank recommended a structured deposit to reporters, the interest rate of this structured deposit at the end of the year was 4.6%, but the interest rate exclusive to new users was 4.8%.
Not only does it raise interest rates at the time node, but some banks will launch exclusive products of Beijing, Shanghai, Guangzhou and Shenzhen. Many banks even have higher external fixed deposits in some regions than in other cities.
Image source: Visual China
"It's like this. Competition in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen is very fierce. If banks in these cities do not increase their returns a little, they will basically have no competitiveness. By increasing interest rates to enhance the competitiveness of banks, our bank will also launch customized products in the city." A staff member of a large state-owned bank told reporters.
Another financial manager of a large state-owned bank recommended the bank's fixed deposits to reporters. The 3-month, 6-month, 1-year, 2-year and 3-year terms of the bank's benchmark increase is as high as 50% of the 5-year interest rate of the bank's fixed deposits. When the reporter asked the financial manager whether the national interest rate was unified, the financial manager said that the interest rates for structural financial management and fixed deposits launched by the bank were only targeted at specific cities.
How to choose financial products?
html At the end of 0, the bank tried its best to attract deposits. What should investors pay attention to in the face of dazzling products? How to buy products that best meet their own conditions?In the past, financial management products have always been a powerful tool for banks to attract deposits . Some financial products can not only guarantee capital, but also allow investors to get a good rate of return. But this year, there are fewer and fewer financial products with guaranteed capital types, and the yield rate is not satisfactory.
"Not guaranteed capital is an inevitable trend, because the policy has been put in place," a financial manager of a large state-owned bank told reporters, "The principal and interest must be no longer guaranteed at the end of 2020. At the same time, banks may speed up the pace to make overall principal and interest rectification ahead of schedule. Because when capital protection is no longer available, banks will receive rewards. So there is no need to wait until the end of 2020, banks may complete rectification in early 2020 or the end of 2019."
Investors who purchase financial products should pay attention to combining their own financial management needs and consult clearly whether the financial product is a net value product, what are the investment targets of financial products, etc. Let’s learn about the current mainstream financial products on the market.
Structural deposits: some do not guarantee capital, and the income will also fluctuate
In the first half of this year, structured deposits became the new favorite of commercial banks to attract deposits. Many banks label structured deposits as guaranteed and high yields to attract deposits. At the end of the year, the structured deposit interest rates launched by many banks have risen to 4.7%.
However, according to the reporter, structured deposits are not completely guaranteed products, and the yield of structured deposits is floating, and the high yield posted at the end of the year is not the yield that investors can get when they redeem.
The "Deposit Statistical Classification and Coding" (JR/T0134-2016) released by the Central Bank in 2016 pointed out: "Structural deposits refer to deposits embedded in financial derivatives absorbed by financial institutions. By linking to fluctuations in interest rates, exchange rates, indexes, etc. or linking to the credit status of a certain entity, depositors may obtain higher returns on the basis of taking certain risks."
When introducing a structured deposit from the bank to reporters, the financial manager of a large bank said that this product is equivalent to replacing the previous guaranteed financial product. The product introduction does not contain "guaranteed" but only the word "deposit". Among the many banks visited by the reporter, one of the banks clearly stated to the reporter that the bank's structured deposits are not guaranteed.
Image source: Visual China (without pictures and text)
In addition, the yield of structured deposits is also floating. Several financial managers told reporters that although the yield of structured deposits at the end of the year will rise, the yield is floating and there will be a guaranteed rate of return. When investors redeem it, it may not be the yield at the end of the year.
In addition, can structured deposits be withdrawn in advance? Compared with large-denomination certificates of deposit that can be withdrawn in advance and interest calculation based on the file, the flexibility of structured deposits is not that good. Financial management managers of many banks told reporters that they must hold it after purchasing structured deposit products and cannot withdraw them in advance.
large-denomination certificates of deposit: It is not uncommon to increase the benchmark interest rate by more than 50%
large-denomination certificates of deposit and fixed deposit are two types of guaranteed products. However, when purchasing these products, although investors do not need to worry about principal issues, they should pay attention to the interest calculation method when these products are withdrawn in advance before they expire.
The biggest difference between large-denomination certificates of deposit and fixed deposits is that the investment threshold for investors is different.
Most fixed deposits, before they expire, investors will withdraw in advance according to the corresponding current interest, but the fixed deposits launched by some banks can be calculated based on the interest rate, so investors must pay attention to the bank's interest calculation method when withdrawing in advance before investing in fixed deposits.
Compared with fixed deposits, the subscription threshold is higher. Among them, the starting point for individual investors to subscribe to large-denomination certificates of deposit shall not be less than 200,000 yuan. In addition to the high threshold, when investors withdraw large deposits subscribed in advance, they often calculate interest by calculating interest rates.
reporter noticed that it is not uncommon for large deposit certificates to rise by more than 50% compared with the benchmark interest rate.A joint-stock banking industry recently launched a large-denomination certificate of deposit, with product terms including 1 month, 3 months, 6 months, 9 months, 1 year, 2 years, 3 years, and 5 years. The deposit for 200,000 yuan is 47% higher than the benchmark interest rate; the deposit for 500,000 yuan is 48% higher than the benchmark interest rate; the deposit for 1 million yuan is 52% higher than the benchmark interest rate.
Puyi Standard Researcher Yu Kang told the reporter of Daily Economic News (WeChat ID: nbdnews) that during the transformation period, banks have raised interest rates one after another, treating large-denomination certificates of deposit as a weapon to attract deposits, but this has also increased the cost of banks' liabilities to a certain extent, and the increase in interest rates is unsustainable.
Foreign banks absorb deposits: purchase foreign exchange and deposit US dollars, etc. to enjoy high interest rates
Daily Economic News (WeChat ID: nbdnews) The reporter visited many foreign banks and told the financial managers that they hope to invest in a product with a guaranteed capital and relatively high interest rates. Many foreign banks have recommended fixed deposits of US dollars and Hong Kong dollars to reporters.
Image source: Visual China (without pictures and text)
A foreign bank launched a 13-month regular discount interest rate of USD up to 3.75%, and the 13-month regular discount interest rate of users who deposited Hong Kong dollars in my country for the first time was as high as 3.48%.
Another foreign bank financial manager told reporters that the US dollar fixed deposit and Hong Kong dollar fixed deposit in my country will be higher than other Chinese banks. "The interest rates we give are relatively advantageous."
When the reporter asked how to invest in foreign currency fixed deposit, the financial manager told reporters, "You can choose a suitable location to buy foreign exchange, and everyone has a certain amount of foreign exchange purchase quota a year."
The financial manager said: "Our bank card can open RMB accounts and US dollar accounts, etc. You can directly use RMB to buy US dollars, and this money can be directly in the US dollar account and then make fixed deposits. Many banks may only give 2%, while our US dollar fixed deposit is 3.5%.
Daily Economic News
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