Deposit 500,000 in CITIC Bank and choose a 3-year term. What is the annual interest?

Let me do the math for you.

As a national joint-stock commercial bank, CITIC Bank has also been selected as China's systemically important bank.

It is too big to fail and very trustworthy in terms of security and credibility.

Although its yield is not as good as that of some small and medium-sized banks, it is higher than that of many state-owned banks.

Depositing in it can balance safety and profitability to a certain extent.

If someone holds a deposit of 500,000 and plans to deposit it in CITIC Bank, how many years of interest can he get if he chooses a 3-year term?

I'll help you figure it out.

If you click on CITIC Bank's mobile banking at the current interest rate level, you can see that there are no 3-year products on the large certificate of deposit interface.

Among 3-year time deposits, CITIC Bank is quite kind.

It has set up ordinary lump sum time deposits starting from 50 yuan and with an interest rate of 3%. You can also check "principal and interest renewal".

In addition, there are three exclusive 3-year time deposits with different initial deposit amounts and annual interest rates.

The annual interest rate for a deposit of RMB 1,000 is 3.3%, for a deposit of RMB 5,000 it is 3.35%, and for a deposit of RMB 10,000 it is 3.4%.

What is the annual interest?

a. If 500,000 yuan is deposited into a general lump sum time deposit with an interest rate of 3%, the annual interest will be 15,000 yuan.

The rate of return may not be too high in comparison, but the advantage is that it can be automatically transferred to avoid depositors forgetting to bring money and manual transfer failure when it expires.

Therefore, overdue interest will be calculated at the deposit rate.

b. If it includes an exclusive time deposit of RMB 500,000 with an interest rate of 3.3%, the annual interest rate is 16,500 yuan, which is not as cost-effective as an exclusive time deposit with a higher initial deposit amount, and cannot be transferred automatically.

At ICBC, even the interest rate on a 3-year certificate of deposit can only reach 3.25% at most, so we can appreciate the difference in interest rates between banks.

C. If you deposit 500,000 in an exclusive time deposit with an interest rate of 3.35%, the annual interest rate is 16,750 yuan, which is not as high as the interest rate of 3.4%, and cannot be transferred automatically.

But the interest rate of 3.35% is special.

The latest 3-year electronic savings bond interest rate is 3.35%.

Discovered that CITIC Bank is now a member of the savings bond underwriting syndicate.

If depositors want to enjoy the humanized rules of early redemption of interest based on files, they can also purchase savings bonds through CITIC Bank branches or online banking during the issuance period.

D. If 500,000 yuan is deposited into an exclusive time deposit with an interest rate of 3.4%, the annual interest will be 17,000 yuan.

After many adjustments to bank deposit interest rates, some small and medium-sized banks can only offer an interest rate of 3.4% on three-year deposits at most.

From this perspective, the exclusive category with a 3.4% interest rate for 500,000 deposits for 3 years is more cost-effective.

To increase passive income, some savers may still be dissatisfied with the above-mentioned 3.4% interest rate. They can purchase 5-year savings bonds through CITIC Bank with an annual interest rate of 3.52%, corresponding to an annual interest rate of 17,600 yuan.

If the depositor has a certain risk tolerance, he can also divide the 500,000 yuan into several tranches and deposit them into five-year transferable certificates of deposit in several small and medium-sized banks. He may be able to find products with an interest rate of around 4%.

Of course, the prerequisite for long-term deposits is that depositors must have deposits that have been idle for more than 5 years.

For savers with higher risk tolerance, in addition to bank deposits and savings bonds, some other financial management methods can be added to increase value, such as bank financial products, stock funds, stocks, etc.

But these are not guaranteed, so savers should not invest too much money rashly to avoid losing everything.

At the same time, we must also remember to follow the general trend.

For example, in the past two years, housing and public health incidents have fluctuated repeatedly.

Whether it's real estate speculation or starting a business, it's a bit against the trend and not very safe.

If you want to steadily increase passive income, you might as well follow the general trend, choose the general trend, and let the foreign trade industry be protected by the country's series of stable foreign trade policies.

It is related to the entire employment situation and the entire economic situation.

The state has been closely monitoring the operation of foreign trade to ensure foreign trade. In short, at the current deposit interest rate, if you deposit 500,000 in a three-year deposit with CITIC Bank, the annual interest will be more than 10,000, which is quite considerable.

If depositors are still not satisfied with this, they may need to find solutions in other banks or other safe deposit financing methods.