But if it is a demand deposit, there is no difference between ICBC, CCB, ABC and Postal Savings Bank. Moreover, the three-month time deposit rate is the highest, the six-month time deposit rate is the highest, the 1 year time deposit rate is the highest, the two-year time deposit rate is the highest, the three-year time deposit rate is the highest, and the five-year time deposit rate is the highest.
Deposits can be classified in many ways. For example, according to the mode of production, it can be divided into original deposits and derivative deposits, according to the term, it can be divided into demand deposits and fixed deposits, and according to different depositors, it can be divided into unit deposits and personal deposits (taking China as an example). Personal deposits, that is, residents' savings deposits, are the money that residents deposit in banks.
Unit deposit:
Company deposits. This is a temporary idle monetary fund generated by state-owned enterprises, supply and marketing cooperatives and collective industrial enterprises due to the inconsistency between sales revenue and various expenditures. It also includes all kinds of special funds extracted but not used by enterprises, the most important of which is the depreciation fund of fixed assets, including profit retention.
The change of enterprise deposits depends on the scale of purchase and sale of goods produced by enterprises and their operating conditions. With the expansion of production or commodity circulation, corporate deposits will increase and vice versa. With the improvement of management and the acceleration of capital turnover, corporate deposits will decrease, and vice versa. The vast majority of corporate deposits are demand deposits, and only a few are time deposits.
Time deposit:
Compared with demand deposits, time deposits are more stable and have lower operating costs, and the deposit reserve ratio held by commercial banks is correspondingly lower. Therefore, the capital utilization rate of time deposits is often higher than that of demand deposits.
Time deposit is a kind of deposit in which the bank and the depositor agree on the term and interest rate in advance at the time of deposit and withdraw the principal and interest after maturity. Time deposits are used to settle accounts or withdraw cash from time deposit accounts. If customers need funds temporarily, they can apply for early withdrawal or partial early withdrawal.
Demand deposit:
It refers to a kind of bank deposit that depositors can access and transfer money at any time without prior notice. Its forms include checking account, certified check, promissory note, traveler's check and letter of credit. Demand deposits account for the largest part of a country's money supply and are also an important source of funds for commercial banks.
In view of the fact that demand deposits not only have the functions of monetary payment and circulation means, but also have strong derivative ability, commercial banks must take demand deposits as the focus of their operations at any time. However, due to frequent deposit and withdrawal, complicated procedures and high cost, commercial banks in western countries generally do not pay interest, and sometimes even charge a certain handling fee.
Call deposit:
The currencies of call deposits can be RMB, HKD, GBP, USD, JPY, EUR, CHF, AUD and SGD (please consult your local bank for specific business and currency). According to bank regulations, the call deposit interest rate of RMB and foreign currency is higher than the deposit interest rate.