Will the bank's time deposit be automatically renewed when it expires?

The default of each bank is not exactly the same, depending on the corresponding bank regulations. Taking China Bank as an example, whether time deposits are automatically transferred after maturity mainly depends on the agreement between users and banks when handling bank time deposits. If automatic deposit is agreed when handling time deposit, the time deposit will be automatically transferred to the next time deposit after maturity, and the deposit interest rate is generally calculated according to the time deposit interest rate at that time; If the time deposit is not agreed to be automatically transferred, it will be converted into demand deposit after maturity, and users can withdraw it at any time. If it is a construction bank, the time deposit will be automatically renewed after it expires.

1. Automatic time deposit means that after a customer's deposit expires, if the customer does not go to the bank to handle the deposit transfer formalities, the bank can automatically transfer the due deposit principal and interest together according to the same deposit term, regardless of the number of times, and the interest for the renewal period is calculated at the interest rate of the previous maturity date. After renewal, if less than one customer requests to withdraw the deposit, the interest of this period will be calculated according to the current interest rate on the withdrawal date during the renewal period. For example, if a customer deposits a one-year RMB A time deposit, and the customer does not ask for withdrawal or other purposes after the deposit expires, the bank will automatically transfer RMB A and the interest generated by RMB A in this year as a one-year time deposit; If the customer requests to withdraw the principal and interest for one year and five months, the five-month interest rate during the renewal period shall be calculated according to the interest rate on the withdrawal date.

2. Select whether the time deposit is "automatically deposited" or "not deposited" after maturity. Customers with this requirement need to indicate in the "automatic transfer" item. By default, the bank's "automatic deposit transfer" rules are not exactly the same for each bank. ICBC needs depositors to choose for themselves, and Everbright Bank defaults to automatic deposit transfer. If not, you can explain it to the staff.

3 China Construction Bank savings deposit automatic transfer and agreement transfer provisions.

Article 2 of Chapter II: Automatic transfer refers to a service mode in which the bank automatically transfers the original deposit principal and after-tax interest to the same kind and grade of time savings deposits according to the interest rate on the maturity date of the customer's time savings deposits after deducting interest.