The wealth management products of banks are often very complicated, which is difficult for ordinary people to understand. So after buying it, people often feel inappropriate and want to quit halfway. So can bank financing quit halfway? Briefly, please see below.

Can I quit buying wealth management at the bank?

Whether bank financing can be withdrawn mainly depends on two points, one is product agreement, and the other is product nature.

First, look at the product agreement.

Some products are allowed to quit halfway, but they are handled in different ways. For example, bank-insurance financing can be fully withdrawn within the hesitation period of 15 days. If it exceeds the hesitation period, it will be regarded as a breach of contract and lose about 30% of the liquidated damages.

If you buy a public offering of regular financial management, you often can't quit after the fundraising period. Most fixed-term financial management agreements stipulate that the principal cannot be recovered in advance during the investment period, and investors cannot quit halfway, which is still different from bank time deposits.

If you buy rolling products, such as 7-day rolling and 30-day rolling, there is an exit clause in the agreement, and you can usually quit the next day. If you don't quit at maturity, the principal and interest will automatically roll into the next period.

Second, look at the nature of the product.

If you buy fund products, you should distinguish between closed-end funds and open-end funds. Open-end funds are open for redemption every day and can be withdrawn at any time (redemption fee for holding less than 7 days 1.5%).

For closed-end funds, redemption is not supported during the closed period. If it can be traded on the stock exchange, it can be transferred to others, just like selling stocks.

Well, the analysis of whether bank financing can quit halfway is here, and I hope it will help everyone. Warm reminder, financial management is risky and investment needs to be cautious.