Will you send me a text message after the time deposit expires?

Automatic deposit will be notified by SMS after maturity. Although the initial amount of SMS notification varies from bank to bank, there will be no notification for automatic deposit transfer.

I. Basic information on deposits

Deposit refers to the depositor's temporary transfer or deposit of funds or currency in banks or other financial institutions, or the temporary transfer of the right to use funds or currency 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. Without deposits, there would be no loans, and there would be no banks. 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 withdraw money with "stickers" similar to checks or other tokens. Money changers in medieval Europe 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.

Second, the common skills of deposit

1. It's not worth saving money just for convenience.

Some people deposit thousands or even tens of thousands of dollars into current accounts just 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%. Taking 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 annual interest 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 period is the same, but the deposit method is different, and the interest gap between the three-year current account and the three-year fixed account is not small.

2. 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 save all the remaining money for long-term use. Money that is urgently needed is withdrawn in advance, and there is a phenomenon that "the longer the deposit period, the more interest will suffer". In view of this situation, the bank stipulates that the part withdrawn in advance shall bear interest according to the current period, and the part not withdrawn in advance shall still bear interest according to the original interest rate. Therefore, individuals should choose the deposit term and type according to their own different situations.

Judging from the 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 in history, and there is not much room for further interest rate reduction. If the interest rate is raised in the future, if you choose long-term deposits, you will not be able to enjoy higher interest rates for a period of time when the interest rate is raised, and there will be losses. Short-term deposits are highly liquid and can be transferred immediately after maturity.

4. "Snowball" savings 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 is in urgent need of money, you can withdraw the deposits 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" way to save money. Make sure you don't lose the opportunity to manage money.

The bank has launched an automatic deposit service. When saving money, you should make an agreement with the bank for automatic transfer. 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 transfer, the interest will be calculated at the lowered interest rate when it is re-deposited, and at the higher interest rate before it is lowered. If the interest rate rises after the expiration, it can also be taken out for re-deposit.