It is more appropriate to buy traditional endowment insurance.
The era of negative interest rate has come when the bank interest rate has dropped again and again. It is a severe winter for insurance companies, because a large part of insurance funds are large deposits, which are closely related to bank interest rates. Is it timely to buy insurance in the era of negative interest rate?
Interest rate cuts have the most obvious impact on universal insurance, as evidenced by the fact that some areas have stopped selling universal insurance. At present, the bank interest rate (one-year deposit interest rate of 2.25%) is lower than the upper limit of the predetermined interest rate for universal insurance, which increases the spread loss of insurance funds, and insurance companies have already felt great pressure. Experts believe that the higher the settlement interest rate of insurance companies, the greater the product sales and the heavier the pressure. If the insurance company has a serious spread loss for a long time, it is very likely that the universal insurance will have zero income. It can be seen that it is not a good time to buy universal insurance at present.
Professionals said that it is more appropriate to buy traditional pension insurance only from the perspective of the stability of current income. Regardless of the fluctuation of bank interest rate, the income of the product is fixed, and the income has been promised by the insurance company. The signed contract is regarded as a contract. For example, someone bought an old-age insurance with a payment period of 10 years. At a certain retirement age, the insurance company will pay the pension in one lump sum or receive it in full every month until the time limit stipulated in the contract. Pension collection is generally not affected by changes in bank interest rates. From this perspective, it is more cost-effective to buy such insurance products if you are in the era of low or negative interest rates for a long time. However, experts pointed out that interest rates will be adjusted at any time according to the dynamic economic situation and will not stay at a certain point for a long time.
In addition, in the era of long-term low interest rates, it is more cost-effective to buy dividend insurance. According to industry insiders, dividend insurance has a guaranteed income of 2%-2.5%, which is equivalent to the current one-year bank interest rate, and the insured can also participate in the company's operating dividends.
Investment-linked insurance has multiple investment accounts, and the income is not simply affected by bank interest rates. Experts pointed out that the nature of investment-linked insurance itself determines that it is a medium-and long-term investment product, which is closely related to the stock market, bond market and money market. The real profit is to enter the warehouse at the trough and increase the profit at the good time. However, the insured must combine their investment preferences with their confidence in the market.
Except for short-term consumer insurance, most insurances are medium-and long-term family financial planning and risk protection planning, which must be considered according to the risk signals and income ability of individuals and families. Experts believe that insurance financial planning is generally a 20-year plan of 10. In such a long time, it will certainly be affected by various economic factors including bank interest rates. You can't decide whether to buy insurance just by the change of interest rate, you should regard it as a necessity.
Business Daily reporter Cui Qibin
fund
The value of monetary funds is prominent.
As the central bank cuts interest rates again, many fund investors pay more attention to the impact of interest rate cuts on the opponent base.
Morgan Stanley Huaxin Fund Co., Ltd. believes that after the interest rate cut, the income of money market funds is increasingly prominent compared with the decline of demand savings interest rate. In addition, the reduction of the scale of institutional arbitrage investment is conducive to the long-term stable income of the money fund. The data shows that the scale of money market funds has increased from11billion yuan last year to about 163 1 billion yuan recently. After the centralized release of liquidity redemption risk in 2006-2007, the scale tends to be stable. Therefore, money market funds benefit from the interest rate reduction cycle, ensuring high liquidity and greatly improving investment income.
In the process of favorable policies and fundamental game, the probability of inflection point in the bond market next year is small. According to the analysis of Xincheng Fund, on the one hand, the macro-policy interest rate cut is expected to support the bond market, and the downside of future yield still exists; On the other hand, there are not many investment opportunities without improvement of macro fundamentals. For the sake of hedging, the bond market will be the only choice for many funds. Considering the "30 Financial Articles" recently issued by the State Council, it is planned to promote banks to enter the exchange bond market. In the future, the bond market will be well funded, and the bond market will still face good investment opportunities in 2009.
Mao, the proposed fund manager of the Chinese business income enhancement bond fund, believes that the cumulative rate of five consecutive interest rate cuts in a hundred days is already obvious, and the cumulative effect will gradually be reflected. The low interest rate environment created by moderately loose monetary policy has increased the income space of bond assets, paving the way for large-scale issuance of bonds such as national debt next year. The rich variety of bonds and the expansion of the bond market have created a good atmosphere and conditions for bond fund investment next year.
In terms of equity funds, China Post Venture Fund Company pointed out that yesterday's market reaction regarded this interest rate cut as a short-term positive. The main reason is that the current market is in a reasonable position of short-term valuation, and the speculation of income-generating industries driven by early investment has just come to an end, and the prospect of economic stimulus effect needs time to observe uncertainty, so the market really needs to be adjusted and stabilized.
Experts said that cutting interest rates is a good thing for the whole fund. From the perspective of investment, bond funds are the most direct beneficiaries at present, and the trend of bond market is more optimistic than that of money market and stock market, so bond funds can be the first choice for investors. For more stable investors, money fund is the best choice. Stock fund is an investment with both risks and benefits, so investors should know something about it and make investment choices after careful analysis. Business Daily reporter Wang Leyan
bank
Banks and trust wealth management products can be properly configured.
Every time the central bank cuts interest rates, the yield of bank wealth management products shrinks rapidly. After this interest rate cut, the reporter learned from many bank channels that it is difficult for investors to buy wealth management products independently developed by banks. On the one hand, there are fewer and fewer products that banks can resist the risk of interest rate cuts; On the other hand, the money fund sold by banks has outstanding income. If customers really need financial management urgently, banks would rather hand over the sales platform to the fund.
"The rate of interest rate adjustment is not very large, and the impact on people's savings income is relatively small. If you choose short-term wealth management products linked to central bank bills and bonds, it is likely that the product yield is not as cost-effective as bank savings. " In an interview with reporters, the financial manager of a branch of China Construction Bank said this. According to her introduction, the yield to maturity of the three-month wealth management product independently developed by the bank is only 1.5%, which is lower than the newly adjusted three-month time deposit rate1.71%; The yield of 6-month wealth management products is only 1.7%, which is lower than the newly adjusted half-year deposit rate 1.98%. If the customer invests 10000 yuan in products for six months, the income after maturity is 170 yuan, and the interest earned by 198 yuan after six months' deposit is 198 yuan. In contrast, customers who choose wealth management products earn less 28 yuan.
In this regard, a bank wealth management manager said that customers can properly configure bank and credit wealth management products. "The yield of 1 year Yin Xin wealth management products is 4.02%, which is not low among the current bank wealth management products." A financial manager of China Merchants Bank introduced such a silver letter product. According to the reporter's understanding, the expected yield of bank wealth management products still on sale has all shrunk, from the original maximum of 20% to the maximum of 5%, which is only more than twice the latest deposit interest rate. However, compared with other products, the yield of new Yin products is still in a high position.
"But investors should note that this product will be issued before the end of the year, and 4.02% is a floating interest rate. If the central bank continues to cut interest rates next year, the yield will also drop. But if the central bank raises interest rates next year, this yield will not rise. " The person added.
"If you really have some spare money to manage your finances, I suggest that customers buy some money funds at the bank's financial counter. Now many money funds can achieve an annualized rate of return of 9%, and many employees of our bank have subscribed. " The financial manager of a bank said this, and such investment advice reporters have heard many times in the investigation.
According to the reporter's understanding, the yield of money funds that many banks are selling on a commission basis is indeed high. Among them, Haifutong Monetary Fund B, which is sold by a bank, has an annualized rate of return of 3.8% this year, with an annualized rate of return of 7.46% in June 5438+065438+ 10; Since the beginning of this year, the annualized rate of return of Harvest's currency has reached 3.76%, of which the annualized rate of return of 5,438+01.9% in June was as high as 7. 1.9%, all of which were in the forefront of the monetary fund and higher than the interest rate of three-year time deposits.
Business Daily reporter Cui Lvping
national debt
Pay attention to book-entry treasury bonds
Treasury bonds used to have a good reputation among the masses, because the interest rate was higher than that of bank deposits, there was no risk, and interest tax was not paid. In particular, some middle-aged and elderly investors prefer to invest in sound government bonds. Due to the booming fund sales in the previous two years, the investment in government bonds has gradually cooled down. At present, the continuous plunge in the stock market has caused huge losses to fund holders. Now many investors deeply feel that national debt is the most suitable for risk-free long-term investment.
When it comes to buying government bonds, many people will think of queuing at the bank at three o'clock in the evening, and they may not be able to buy them. In fact, you don't have to go to the bank to buy government bonds, and the government bonds of the exchange are also good investment varieties.
Let's talk about the difference between exchange bonds and bank bonds. Generally speaking, exchange bonds are also called book-entry bonds, and bonds sold by banks are called voucher bonds. The biggest advantage of book-entry treasury bonds is that they can be realized in advance through transactions. In other words, if you need money suddenly one day, you can sell it directly through the secondary market, which can save a lot of handling fees and truly realize the current regular income. This point, voucher-type national debt is very difficult to do.
In addition, under the interest rate reduction cycle, book-entry treasury bonds still have speculative opportunities. For example, a national debt with a face value of 100 yuan is 4% in coupon rate, but when the new national debt is issued, the coupon rate is reduced to 3%, so the transaction price of the old national debt is no longer 10 1 yuan, which means that the new and old bonds of book-entry national debt will always reach the balance of actual yield. Furthermore, when the interest rate of the new national debt drops to 2%, the price of the old national debt will rise to 102 yuan, which is the income of 2 yuan and can be regarded as the extra income brought by the interest rate reduction. Of course, in the interest rate hike cycle, book-entry treasury bonds will also have floating losses.
Therefore, in the current interest rate reduction cycle, investing in treasury bonds is far more advantageous than deposits and money funds, and the investment opportunities of book-entry treasury bonds are obviously better than voucher-type treasury bonds.
Business Daily reporter Zhou She
foreign exchange
It is more cost-effective to change foreign currency into RMB.
Following the Federal Reserve's downward adjustment of the US dollar interest rate to the range of 0-0.25% last week, except for the Agricultural Bank of China, the three major banks, ICBC, BOC and CCB, have all lowered the interest rates of small foreign currency deposits to varying degrees since the 22nd. Among them, ICBC adjusted the US dollar demand interest rate to 0.05%, and lowered the one-year time deposit to1.25%; The current interest rate of the Hong Kong dollar is lowered to 0.05%, and the one-year time deposit is 1%. Bank of China and China Construction Bank dropped even more, with the current interest rate of US dollar dropping to 0.05% and the one-year interest rate remaining at 0.95%, with a drop of 95%. The current interest rate of the Hong Kong dollar has also dropped to 0.0 1%, and the one-year interest rate is 0.7%. However, the interest rates of foreign currency deposits in some joint-stock banks are still at a high level.
After the central bank announced the interest rate cut on the 22nd, the benchmark one-year deposit interest rate of RMB became 1.98%, and the deposit interest rate remained at 0.36%. Compared with the interest rates of US dollar demand and one-year deposit lowered by Bank of China, the gap is still quite large. According to relevant regulations, the minimum amount of small foreign currency deposits is USD 3 million. We assume that there are two schemes: one is dollar deposit, and if the interest rate standard is not lowered, the interest income will be $28,500 (300×0.95%) one year later; Second, if it is converted into RMB at the exchange rate on 23rd, and the term is also one year, the interest will be 406,000 RMB (300×6.8389× 1.98%), which is equivalent to 59,400 USD at the exchange rate on 23rd.
In addition, a foreign exchange trader of Bank of China told reporters that due to the weakening of the real economy, the US dollar will face a phased downward adjustment in the case of overbought in the international foreign exchange market, while non-US currencies and gold may continue to fall. Considering that the RMB will resume its upward trend, it is clear at a glance who is more cost-effective in the above two schemes. Of course, the financial planner suggests that there is another option, that is, to convert into wealth management products in the same currency, because it is less affected by the interest rate cuts of countries in turn.
Business Daily reporter Huang Jingyi
mortgage
Provident fund loans are the first choice for second-time home buyers.
The central bank cut interest rates five times in a row within a hundred days, which is undoubtedly a major positive for "house slaves". After five interest rate cuts, the benchmark interest rate for loans over five years dropped from 7.83% to 5.94%, with a cumulative reduction of 1.89 percentage points.
Since the new loan interest rate is generally implemented from 65438+1 in the next year, mortgage providers will enjoy the cumulative rate reduction of five times after half a month.
Take 500 thousand yuan, 20 years, equal principal and interest repayment as an example. Before five interest rate cuts, the interest rate was 7.83% and the monthly payment was 4 129.46 yuan. Starting from 65438+1 October1next year, the loan interest rate will be 5.94%, and the monthly payment will be reduced to 3564.87 yuan, with a monthly decrease of 564.59 yuan, saving interest 135500.64 yuan in 20 years.
This year1October 27th 10, the central bank launched a new mortgage policy, and the lower limit of mortgage interest rate was lowered from 0.85 times of the benchmark interest rate to 0.7 times. If citizens can enjoy a 30% discount rate, the mortgage interest rate will drop to 4. 158%. Before September 6, this year 16, the best mortgage interest rate for banks with more than five years was 6.655%. Specifically, the monthly mortgage with 500,000 yuan, 20-year maturity and equal repayment of principal and interest was 3,773.93 yuan after discount before five interest rate cuts, and the total interest was 405,742.77 yuan; After the interest rate cut, the preferential monthly payment is 3,072.22 yuan, and the total interest is 237,333.26 yuan. In contrast, the monthly payment decreased by 18.5%, and the total interest decreased by 4 1.5%.
In addition, after five interest rate cuts, the interest rate of provident fund loans is even lower. At present, it is 3.87% for more than five years and 3.33% for less than five years, which is 0.29% and 0.70% lower than the 30% discount rate for commercial loans. Similarly, take the mortgage with repayment of 500,000 yuan and 20-year equal principal and interest as an example. Starting from next year, mortgage providers of provident fund loans will have to pay back interest of 2 18982.6 yuan, with a monthly payment of 2,995.76 yuan. It is 76.46 yuan less than choosing a commercial loan with favorable interest rate to buy the first suite every month. On the other hand, under the same conditions, the commercial loan for buying a second house has a total interest of 396,808.45 yuan and a monthly payment of 3,736.7 yuan. This shows that it is more cost-effective to buy a second house and choose a provident fund loan.