What happens if the Postal Savings Bank doesn't withdraw the time deposit when it expires?

There are generally two ways to deposit time deposits in banks: automatic deposit without agreement and automatic deposit with agreement. And the difference between these two ways will also produce different results after the expiration:

1, do not agree with automatic deposit transfer.

When you deposit a time deposit in the bank, if the staff doesn't take the initiative to ask you if you want to deposit automatically, and you don't take the initiative to ask, then after your time deposit expires, the principal and interest will be merged into a new principal and converted into a current deposit, and your deposit will bear interest at the current interest rate.

2. Agree to automatically transfer time deposits.

When you deposit, you must take the initiative to ask for automatic deposit, otherwise it will be regarded as no agreement, and there is an agreement mark on the passbook or card. The term of automatic deposit is subject to the term of your first deposit and will not be extended or shortened.

Time deposit is also called "time deposit certificate". A deposit in which the bank and the depositor agree on the term and interest rate in advance at the time of deposit and withdraw the principal and interest after maturity. If depositors need funds before maturity, some certificates of deposit can be sold in the market; Some certificates of deposit cannot be transferred. If depositors choose to withdraw funds from the bank before maturity, they need to pay a certain fee to the bank.

Cash and current savings deposits can be directly applied for time savings deposits. The initial deposit for a fixed account is 50 yuan, and there is no deposit limit.

The storage period is three months, six months, one year, two years, three years and five years. Partial withdrawal can be made in advance. When the deposit expires, the principal and interest can be withdrawn by the certificate of deposit, or it can be automatically transferred in installments according to the original deposit period.

Interest shall be calculated and paid at the deposit interest rate on the day when the deposit certificate is issued, at the current deposit interest rate on the day of withdrawal for early withdrawal and at the deposit interest rate on the day of withdrawal for overdue withdrawal. I can apply for a small pledge loan with my time deposit certificate.

For the unexpired time savings deposit, the depositor must hold the certificate of deposit and the identity certificate of the depositor in advance; If the withdrawal is made on behalf of the depositor, the payee must also hold his own identity certificate, and the interest rate shall be calculated and paid according to the current savings deposit interest rate announced on the date of withdrawal. The payee must also sign the name of the payee on the payment voucher.

For unexpired time savings deposits, depositors can make partial withdrawal in advance according to their needs, and the write-off procedures remain unchanged. The interest rate of the early withdrawal part is paid according to the interest rate of the current savings deposit listed on the withdrawal date, and the retained part is paid according to the original interest rate when it is withdrawn on the original deposit date. For lump-sum time deposits, each certificate of deposit can only be partially withdrawn once in advance. If it has been partially withdrawn in advance,

Savings institutions shall indicate the words "partial early withdrawal" on paid deposit receipts and newly opened deposit receipts. (After 20 11March1,the lump-sum deposit in CCB, whether deposited before or after, can be partially withdrawn indefinitely, and it is no longer restricted once. )

This means that depositors can only withdraw money on a specific date after deposit, or they must be notified a few days before they are ready to withdraw money.

The term of a deposit in a bank can range from 3 months to 5 years, from 10 years. Generally speaking, the longer the deposit term, the higher the interest rate. Traditional time deposits include not only certificates of deposit, but also passbooks, also called passbook time deposits. However, 90 days is the basic interest-bearing days, and no interest will be calculated after 90 days. Compared with demand deposits, time deposits are more stable and have lower operating costs, and the deposit reserve ratio held by commercial banks is correspondingly lower. Therefore, the capital utilization rate of time deposits is often higher than that of demand deposits.