What is the five-year fixed annual interest rate of rural commercial banks?

If the interest rate of 5.6% is a regular bank deposit rate, you can deposit it, but you also need to be wary that banks may sell other wealth management products in the name of deposits.

First of all, I can tell you for sure that it is possible for the current five-year fixed deposit rate to reach 5.6%. Under normal circumstances, the bank's five-year deposit interest rate is only about 4. 125%. In fact, the interest rate of 4. 1.25% is mainly aimed at some large banks and joint-stock banks, but some rural credit cooperatives, rural commercial banks and private banks are exceptions.

Let's talk about its advantages first: First, the interest rate is relatively high. At present, the benchmark interest rate for three-year deposits is 2.75%. Although there is no benchmark interest rate for five years, most banks still refer to the interest rate of 2.75%, accounting for a certain proportion. State-owned banks and national joint-stock banks have only 4.26% of five-year deposits, even if large deposits go up by 55%. The local rural commercial bank (or credit cooperative) can definitely give an annual interest rate of 5.6%. Rural commercial banks (or credit cooperatives) are relatively small in scale and have great pressure to save money. Raising the five-year deposit interest rate to 5.6% is also a "helpless move", but it is understandable. 654.38+ 10,000 yuan, annual interest of 5,600 yuan, the income is still quite high, and it is worth choosing.

Second, the safety factor is high. As we all know, after the introduction of the new asset regulations, it is no longer possible to "protect the principal and interest". In other words, wealth management products may also lose money in theory. Bank deposits are protected by the Deposit Insurance Regulations, and funds below 500,000 yuan (including principal and interest) are absolutely safe.

But the five-year bank time deposit also has its shortcomings: the only "defect" is that the five-year deposit has a long term and poor capital flexibility! Deposits need to be locked for five years. Once you need to withdraw in advance, you can only get the current account (0.35%) to calculate the interest, and the income difference is more than ten times, which is extremely uneconomical.

Therefore, we must be more careful when making deposits, and we must sign relevant contracts at the regular bank counters monitored by banks.