According to the regulations of the People's Bank of China and the China Banking Regulatory Commission, banks sign agreements with other institutions as legal persons or institutions authorized by legal persons to stipulate the deposit business with a certain term and above, and the deposit interest rate is also stipulated in the agreement.

agreement deposit is a deposit opened by commercial banks for specific Chinese-funded funds, such as insurance funds, social security funds and endowment insurance funds. This kind of deposit has a long term and a large initial deposit amount. The interest rate, term, interest settlement method and penalty standard for breach of contract are all agreed by both parties. Agreement deposits are not interbank deposits, but can be used as a long-term source of funds for deposit-taking financial institutions, and should be included in the loan-to-deposit ratio index. Agreement deposit is not allowed to be withdrawn in advance, but its agreement deposit certificate can be used as financing pledge.

Agreement deposits allocated by money market funds belong to the category of interbank deposits. Different from ordinary deposits, agreed deposits allocated by money market funds do not need to pay 2% of the statutory deposit reserve, and they can also enjoy the preferential treatment of "no interest penalty".

is agreement deposit a wealth management product?

agreement deposit is not a wealth management product, but a time deposit. Time deposit is an investment method in which banks and depositors agree on the deposit period and interest rate in advance and withdraw the principal and interest at maturity. Bank wealth management is a product developed, designed and sold by banks for specific groups of people. The investment income and risks of wealth management products are shared by banks and investors.

Deposits are guaranteed income or guaranteed capital, with low investment starting point (generally 5 yuan) and lower interest rate than bank financing, so you can withdraw cash in advance; Wealth management products are not guaranteed capital and interest products, and the losses are borne by customers. The starting point of investment is high (1, yuan, 5, yuan), and the income wealth management products are higher than deposits.