What does the bank deposit mean by lump-sum withdrawal?

Regular lump-sum deposit and withdrawal is a basic type of bank deposits. When making a deposit in a bank, the depositor agrees to the deposit period, make a monthly fixed deposit and withdraw the principal and interest at one time.

Under normal circumstances, it is deposited in 5 yuan once a month. If the deposit is missing in the middle, it will be filled up the next month, and there is only one chance to make up. Storage period is generally divided into one year, three years and five years.

Interest is calculated according to the actual deposit amount and actual deposit term, and the specific interest rate standard is implemented according to the bank interest rate table.

Deposit refers to the temporary transfer or storage of funds or money in banks or other financial institutions by depositors while retaining ownership, or the temporary transfer of the right to use funds or money to banks or other financial institutions. It is the most basic and important financial behavior or activity and the most important source of credit funds for banks.

Deposit is one of the most basic businesses of banks. No deposit, no loan, no bank. In terms of time, deposits are earlier than banks. In the Tang Dynasty, a special counter for receiving and keeping money appeared in China, where depositors could use "stickers" similar to checks or other tokens to withdraw money. Money changers who appeared in Europe in the Middle Ages also accepted customers' deposits, which belonged to the nature of currency custody and did not pay interest, which was the bud of foreign bank deposit business. With the emergence of banks and other financial institutions, the deposit business of banks has developed rapidly.

General skill

It is not cost-effective to save money just for convenience.

Some people just deposit thousands or even tens of thousands of dollars into current accounts for the convenience of withdrawing money, which is certainly not desirable. The annual interest rate of current deposit is 0.36%, the annual interest rate for one year is 2.25%, the annual interest rate for three years is 3.33%, and the annual interest rate for five years is 3.60%. If we take 50,000 yuan as an example, after deducting interest tax, the deposit interest earned in three years is about 3,024 yuan, and the interest earned in five years is about 5,580 yuan. If you deposit this 50,000 yuan into a current account, the interest for one year is only 288 yuan. Even if you deposit it for three years, the interest is only about 1000 yuan. It can be seen that the same is 50,000 yuan, the deposit term is the same, but the deposit method is different, and the interest gap between the three-year current deposit and the three-year fixed deposit is still not small.

The longer the shelf life, the more cost-effective.

But the longer the shelf life, the more cost-effective. In order to get more interest, many people concentrate their large deposits on three-year and five-year periods without carefully considering their expected use time, and blindly keep all the remaining money for a long time. If money is urgently needed, it will be withdrawn in advance, and there will be a phenomenon that "the longer the deposit period, the more interest". In view of this situation, the bank stipulates that the part withdrawn in advance shall bear interest at the current period, and the part not withdrawn in advance shall still bear interest at the original interest rate. Therefore, individuals should choose the term and type of deposit according to their own different situations.

From the perspective of deposit interest rate, time deposits should be short-term. On the one hand, the deposit term has little effect on the interest rate, and the difference between the one-year deposit interest rate and the five-year deposit interest rate is only 0.675‰ per month. On the other hand, the deposit interest rate is now the lowest level in history, and there is little room for the interest rate to be lowered again. If the interest rate rises in the future, if you choose long-term deposits, you will not be able to enjoy higher interest rates for a period of time and you will suffer losses when the interest rate rises. Short-term deposits are highly liquid and can be transferred immediately after maturity.

The snowball method is more cost-effective.

In the concrete operation, we might as well adopt a clever method. You can deposit the remaining money into a one-year time deposit every month. A year later, I only had 12 certificates of deposit. In this way, no matter which month you need money urgently, you can withdraw the deposit due in that month. If you don't need money, you can transfer the due deposit together with interest and the remaining money on hand to a one-year fixed deposit. This "snowball" method of saving money ensures that you will not lose the opportunity of managing money.

The bank has launched an automatic deposit service. When saving money, you should reach an automatic transfer agreement with the bank. In doing so, on the one hand, it avoids the loss of not transferring the deposit in time after maturity, and the overdue part bears interest according to the current demand; On the other hand, if the interest rate of the deposit is lowered soon after its maturity, and there is no agreement on automatic rollover, the interest will be calculated at the lowered interest rate when it is re-deposited, and the interest will be calculated at the higher interest rate before the reduction. If the interest rate rises after the expiration, it can also be taken out and deposited.