The term of time deposit is as follows:
It refers to the deposit that the depositor can only withdraw money on the specified date after the deposit or must notify the bank a few days before the withdrawal. The term varies from 3 months to 5 years, and from 10 year. Generally speaking, the longer the deposit term, the higher the interest rate.
Traditional time deposits include not only certificates of deposit, but also passbooks, also called passbook time deposits. However, 90 days is the basic interest-bearing days, and no interest will be calculated after 90 days. Compared with demand deposits, time deposits are more stable and have lower operating costs, and the deposit reserve ratio held by commercial banks is correspondingly lower. Therefore, the capital utilization rate of time deposits is often higher than that of demand deposits.
Extended data:
Guide to time deposit processing:
First, the deposit method of time deposit can be cash deposit, transfer deposit or payment in the same city.
II. The withdrawal methods of time deposits are as follows:
1, full withdrawal at maturity, and one-time settlement of principal and interest at the specified interest rate;
2. Full withdrawal in advance, and the bank pays interest according to the deposit rate listed on the withdrawal date;
3. Partial withdrawal in advance. If the remaining time deposits are not less than the initial deposit amount, the interest will be calculated and paid according to the deposit interest rate listed on the withdrawal date, and the remaining deposits will be executed according to the original interest rate and term; If the remaining time deposit is less than the initial deposit amount, interest shall be calculated and paid according to the deposit interest rate listed on the withdrawal date, and the time deposit shall be settled.
3. RMB time deposits are usually divided into six interest rate classes: three months, six months, one year, two years, three years and five years; Foreign exchange time deposits of Chinese-funded enterprises are divided into five grades: one month, three months, six months, one year and two years.
4. During the term of deposit, RMB unit time deposits shall bear interest according to the interest rate of time deposits announced on the date of deposit. In case of interest rate adjustment, interest shall not be calculated by sections.
Baidu encyclopedia-time deposit
Baidu encyclopedia-deposit