Simply put, according to the redemption standard stipulated by the fund, the redemption application can be submitted on Saturday and Sunday. Therefore, if investors are in a hurry to use money, it is best to avoid weekends and legal holidays when redeeming funds.
Financial products are products designed and issued by commercial banks and formal financial institutions themselves. The raised funds are put into the relevant financial markets according to the product contracts, and the relevant financial products are purchased, and the investment income is distributed to investors according to the contract.
Bank RMB financial products can be roughly divided into bond type, trust type, linked type and QDII type.
Bond type: invest in the money market, and the investment products are generally central bank bills and short-term corporate financing bills. Since individuals cannot directly invest in central bank bills and short-term corporate financing bills, such RMB wealth management products actually provide customers with opportunities to share the investment income in the money market.
Trust: trust products guaranteed or repurchased by commercial banks or other financial institutions with high credit rating, and products invested in trust of beneficial rights of excellent credit assets of commercial banks.
Linked type: the final yield of products is linked to the performance of relevant markets or products, such as linked to exchange rate, linked to interest rate, linked to international gold price, linked to international crude oil price, linked to Dow Jones index, linked to Hong Kong stocks, etc.
QDII type: QDII, that is, qualified domestic investment institutions provide overseas financial services on behalf of customers, refers to commercial banks qualified to provide overseas financial services on behalf of customers.
QDII RMB wealth management products, in short, are wealth management products that customers entrust their RMB funds to qualified commercial banks, and qualified commercial banks convert RMB funds into US dollars, directly invest overseas, and after the maturity, exchange the US dollar income and principal into RMB for distribution to customers.
Wealth management products can generally be purchased through commercial banks or non-bank financial institutions. Traditional channels include banks, insurance companies, securities companies, futures companies and fund companies. Emerging channels include: third-party financial institutions and integrated financial service institutions.
Personal wealth management product financing convenience loan refers to a certain amount of RMB loan paid by the handling institution to the borrower, with the assets and income in the personal wealth management product account purchased by the borrower in its name at the Bank of China as repayment guarantee, and the account suspension treatment as the main control means, and the financing amount calculated at a certain discount rate.