What does ICBC's 7-day notice deposit mean?

Seven-day notice deposit means that the bank pays interest every seven days from the date when investors deposit funds. Call deposit is a kind of deposit that has no agreed deposit term and needs to be notified to the bank in advance to agree on the withdrawal date and amount.

The bank pays interest every seven days. If you don't quit, the principal and interest will automatically enter the next cycle. If you want to withdraw money, you need to inform the bank 7 days in advance. After agreeing on the date and amount of withdrawal, you can go to the bank to withdraw money and enjoy the corresponding notice deposit interest. Otherwise, the default withdrawal is calculated at the current interest rate. The minimum initial deposit of notice deposit is 50,000 yuan, and notice deposit can be withdrawn at one time or multiple times. When withdrawing part of the deposit, the amount withdrawn each time should be greater than the minimum initial deposit amount of the notice deposit. That is to say, if the deposit is withdrawn seven days in advance, the remaining amount in the account after withdrawal shall not be less than 50,000 yuan, otherwise it will be transferred to the current deposit account. Seven-day notice deposit has some disadvantages, but short-term deposit also has its advantages. Transfer-out is very flexible, supporting mobile banking, and funds can be received immediately.

If the term exceeds the agreed time limit, the withdrawal amount shall be calculated at the current interest rate on the deposit date, the withdrawal amount without prior notice to the bank shall be calculated at the current interest rate, and the withdrawal amount notified in advance or overdue shall be calculated at the deposit interest rate. If the actual withdrawal amount is less than or more than the agreed amount, it shall be calculated at the deposit interest rate; if it is less than the minimum withdrawal amount, it shall be calculated at the deposit interest rate. If the notice deposit has gone through the notice formalities and has not been withdrawn, or if interest does not accrue during the notice period when the notice is cancelled, the withdrawal part and retained part of the notice deposit are higher than the minimum deposit amount from the original account opening date, and the retained part is lower than the minimum deposit amount, interest will accrue at the deposit interest rate listed and announced on the account clearing date.

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 the depositor's notice period in advance. One-day notice deposit must be notified one day in advance to withdraw deposit, and seven-day notice deposit must be notified seven days in advance to withdraw deposit.