Is it illegal for depositors to subsidize deposits at the end of the month?

It is illegal and shall not engage in unfair competition.

At present, the assessment pressure of banks is very heavy, and bankers will inevitably come up with opportunistic ways to cope with the assessment. Some banks will spend money to buy deposits at the end of the month in order to complete their tasks.

The so-called deposit purchase is an agreement with the depositor that the depositor will deposit a sum of money at the end of next month, and the bank will give some extra subsidies according to the deposit amount in addition to paying normal interest.

This practice actually belongs to the category of high-interest savings and is illegal. In 2006, the China Banking Regulatory Commission issued a notice to regulate the marketing behavior of banks and prohibit high-interest deposits. At the same time, the CBRC also increased the penalties for banks suspected of taking deposits at high interest rates.

If it must rise to the law, it can be said that high-interest deposits violate the commercial banking law and cannot engage in unfair competition, because high-interest deposits constitute unfair competition for competitors in the banking industry. Therefore, it can be said that it is illegal to absorb deposits at high interest rates, which is also the law enforcement basis for the banking supervision department to punish high-interest banks.