The previous article shared content about Bank of China and time deposit interest rates, mainly sharing the topic of time deposit interest rates.

When it comes to the 3-year time deposit interest rate, which is lower than the 5-year time deposit interest rate, some people still don’t believe it.

From a common sense perspective, it is not unreasonable.

As we all know, generally when depositing money in a bank, the longer the term, the higher the deposit interest rate.

In particular, the deposit interest rate of small and medium-sized banks is indeed that the longer the deposit term, the higher the deposit interest rate.

However, in our country, for large state-owned banks and large listed joint-stock banks, the interest rate on 5-year deposits is lower or the same as that on 3-year deposits.

It’s not that the longer the deposit term, the higher the interest rate.

For example: the annual interest rate for ICBC time deposits is 3.85% for a 3-year term, 3.85% for a 5-year term deposit, and 3.57% for a 5-year term deposit in some cities.

The annual interest rate of Bank of Communications' 3-year time deposit is 3.85%, and the annual interest rate of 5-year deposit is 3.85%.

Therefore, not all banks have fixed deposit interest rates. The longer the deposit period, the higher the deposit interest rate.

This theory is only suitable for small and medium-sized banks in my country, not large state-owned banks.

Okay, let’s share in this issue how to apply for a deposit of 300,000 yuan and earn 1,200 yuan in interest every month?

For a deposit of 300,000 yuan, if you want the interest rate to reach 1,200 yuan, it means a yearly income of 14,400 yuan in interest, which translates into an annual income of 4.8%.

In the past two or three years, among the principal- and interest-guaranteed deposit products of my country's large banks, there has been no deposit product with an annual interest rate of 4.8%.

In the four major banks and large joint-stock banks, only financial management products have an annual return of 4.8%, but financial management funds are risky, and there are losses and profits.

For example: stock funds, bond funds and other financial products.

These are not bank deposit products, and some products are even sold on behalf of banks.

If you want high returns with an annual interest rate of 4.8%, and the security of deposit funds with principal and interest guaranteed, only small and medium-sized banks can do so.

For example: Laishang Bank's 3-year time deposit product has an annual interest rate of 4.8%.

There are also some urban rural commercial banks that offer three-year time deposits with annual interest rates ranging from 4.5% to 4.8%.

So, if you make a deposit at a local small bank, are your funds not guaranteed?

According to the "Deposit Insurance Regulations" implemented by the State Council on May 1, 2015, as long as bank financial institutions that accept social deposits within the territory of my country, including commercial banks (including wholly foreign-owned banks and Sino-foreign joint venture banks), such as China Agricultural, Industrial and Commercial Bank of China Banks such as rural commercial banks, city commercial banks (such as Bank of Guangzhou, Bank of Wuhan, Bank of Nanjing, etc.), rural cooperative banks, rural credit cooperatives, etc. must purchase bank deposit insurance.

Generally, when we go to a bank to handle deposit business, we will see the "Deposit Insurance" sign in the bank lobby or in front of the counter.

Only formal banking institutions have this brand, and ordinary private equity companies or financial institutions will not have this brand.

In my country, only bank deposit products are qualified to promise to customers, and deposit products guarantee principal and interest.

Therefore, there is no need to worry about whether the funds are safe when making deposits in small local banks.

As long as you don't apply for bank financial products, it's fine.