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The bank’s large deposit certificate interest rate is 4.85%, and it requires a minimum deposit of 300,000. Is it worth saving if I have spare money?


Some people may question the minimum deposit standard of 300,000. In fact, it is common for many banks to see 300,000. The minimum deposit standard for large deposit certificates is mostly 200,000, but some are 300,000, and the higher may be 500,000 or 1 million. Of course, different deposit standards can obtain different interest rates, so the minimum deposit standard of 300,000 It is a very normal thing.

The second is the 4.85% rate of return. Although this rate of return is high, it is still within a normal level. At present, my country implements a dual-track system that combines the central bank’s benchmark interest rate and market interest rate. In 2015, deposit interest rate restrictions were fully lifted, and there was no ceiling for deposit interest rates. For example, in 2019, bank deposit interest rates could reach 6% when they were the highest in the year.Preparing for Medical Exams

Although there is no limit on the maximum deposit interest rate, there is one requirement, that is, to be able to absorb the cost of debt and not to engage in vicious competition for the sake of soliciting savings. Just like now, some merchants maliciously cut prices in order to solicit customers, and ultimately will only disrupt the order and operation of the entire market. At present, it is not uncommon for the deposit interest rate to reach 5% in the three-year or five-year deposits of some small and medium-sized banks. Therefore, the deposit interest rate of 4.85% is still within the normal range, which is not outrageous.

The biggest difference between large deposit certificates and large deposits is that the issuance of large deposit certificates requires filing with the central bank and requires relevant qualifications to be issued. However, large deposits are different. Each bank can launch it on its own. The nature of the deposit is actually the bank’s fixed deposit.Preparing for Medical Exams

In addition, the interest rate of large deposit certificates will also be restricted. At present, the highest interest rate for three-year large deposit certificates of state-owned banks is only 3.985%, and the highest interest rate for three-year large deposit certificates of joint-stock commercial banks is only 4.126%. Local small and medium-sized banks The interest rate for large deposit certificates is generally only around 4.3%, so the 4.85% interest rate is not much like large deposit certificates, but more like large deposits.

It is normal for local small and medium-sized banks to offer a 4.85% interest rate for large deposits over a three-year or five-year period. Although the three-year deposit interest rate of state-owned banks is only about 3.5%, 4.85% has far exceeded the market level, but due to the low strength and popularity of these small and medium-sized banks, in order to attract savings, they can only increase the deposit interest rate substantially, and in order to effectively reduce the interest rate. The cost of storage, so appropriately raising the threshold for deposits, is also the usual method of these banks.