What does ICBC mean by notice deposit?

Notice deposit of ICBC refers to a business owned by ICBC. Notice deposit refers to the time deposit business in which depositors need to notify the bank in advance and agree on the date and amount of withdrawal when withdrawing money through online banking, mobile banking and multimedia self-service terminals.

Extended data:

Call deposit is a kind of deposit of commercial banks in western countries, which is not fixed, but depositors must notify the banks in advance to withdraw it. At the same time, it has the nature of demand deposit and time deposit. The notice period is 1 day and 7 days. Interest is calculated on a daily basis, and the interest rate depends on the length of the notice period, which is generally higher than the demand and lower than the time deposit. After the notice, the deposit expires, and the part that the depositor does not withdraw does not bear interest when it expires. This kind of deposit is beneficial for banks to arrange positions, ensure moderate solvency and improve the effect of capital utilization; It also enables short-term idle funds to gain greater benefits and improve the enthusiasm of depositors.

The currencies of call deposits include RMB, HKD, GBP, USD, JPY, EUR, CHF, AUD and SGD.

Applicable interest rate

The call deposit rate of RMB and foreign currency is higher than the deposit rate. The current call deposit interest rates are: one-day call deposit interest rate 0.55%, and seven-day call deposit interest rate 1. 1%.

No matter how long the actual deposit period is, individual notice deposits can be divided into one-day notice deposits and seven-day notice deposits according to the length of advance notice of depositors.

One-day notice deposit must be notified one day in advance, and seven-day notice deposit must be notified seven days in advance.

For example, during the downturn of the stock market, shareholder Zhang deposited 654.38+000000000 yuan into a seven-day notice deposit, and after two months, Zhang can earn 654.38+000000000 yuan more interest (654.38+0.62%-0.72%)/360 days = 654.38+0500.

The new service of bank self-service transfer notice deposit has the functions of demand transfer notice deposit, establishment of withdrawal notice, withdrawal notice cancellation and transfer-out notice deposit. The interest rate of 7-day notice deposit is similar to that of 3-month time deposit, but the flexibility of withdrawal is similar to that of demand deposit, which is more suitable for managing large business funds with uncertain use time.