Enterprise time deposit is a kind of deposit in which the enterprise customer and the bank agree on the deposit period, deposit the temporarily idle funds in the bank, and the bank pays interest at the interest rate agreed on the deposit date when it is withdrawn at maturity. Divided into RMB time deposits and foreign currency time deposits.

1, deposit term

The term of RMB time deposit includes six grades: three months, six months, one year, two years, three years and five years.

Foreign currency time deposits include small foreign currency time deposits (US$ 3 million or less) and large foreign currency time deposits (US$ 3 million or more). The term of deposit includes five grades: one month, three months, six months, one year and two years.

2. Initial deposit amount

Ten thousand yuan (or equivalent foreign currency) must be deposited in one lump sum.

3. Opening procedures

When a company customer opens a time deposit account, he/she needs to submit a "company deposit receipt" to the bank, and reserve the seal. The bank will transfer the pre-existing funds from its company's current deposit account, open a fixed deposit account for it, and issue a registered Confirmation Letter for Opening a Fixed Deposit Account for the Company.

4. Account opening object

Enterprises, institutions, government agencies, armed forces, social organizations and individual economic households that meet the requirements for opening RMB unit current deposit accounts may open RMB unit time deposit accounts and handle local and foreign currency time deposits.

5. Calculation method of interest

When the RMB unit time deposit is withdrawn at maturity, the interest shall be calculated according to the corresponding grade time deposit rate published by the People's Bank of China on the deposit date, and the interest shall be settled with the principal. In case of interest rate adjustment during the deposit period, interest will not be calculated in installments. If the deposit is not withdrawn at maturity, the interest on the demand deposit will be automatically converted into the principal, and will be automatically transferred according to the listing interest rate of the same grade published by the People's Bank of China on the transfer date and the original agreed deposit period. When the small foreign currency time deposit is withdrawn at maturity, the interest will be calculated according to the interest rate of the corresponding time deposit published by China Banking Association on the deposit date. Large foreign currency time deposits can enjoy preferential interest rates, but they cannot be automatically transferred.