Does the Agricultural Bank deduct money from interest settlement?

The so-called interest settlement refers to the actual payment of interest, not withholding money but giving money. Commercial banks do not pay or collect interest on deposits or loans every day, but concentrate on a specific date before actually collecting interest. Debit card account deposits pay interest according to the relevant regulations of the Agricultural Bank of China, while electronic cash does not. Debit card demand deposits are settled quarterly by cumulative interest method, and the 20th day of the last month of each quarter is the settlement date. After-tax interest calculated according to the current interest rate of the business organization on the interest settlement date (interest tax has been suspended at present, and the interest tax rate is zero) will be incorporated into the principal interest.

The calculation formula of interest is: interest = principal × interest rate × term.

Extended information:

China Agricultural Bank deposits interest for three years.

The interest rates of lump-sum and lump-sum time deposits of Agricultural Bank of China are three months 1.35%, six months 1.55%, one year 1.75%, two years 2.25%, three years 2.75% and five years 2.75%.

If RMB 6,543,800+is deposited as a three-year time deposit of Agricultural Bank of China, the expected interest after three years is RMB 6,543,800+RMB 2.75% * 3 = RMB 8,250.

It should be noted that the above deposit interest rates are for reference only. In fact, the actual implementation rate of different agricultural bank outlets in different provinces may be different.

In addition, the interest payment method of lump-sum time deposit is generally a one-time repayment of principal and interest at maturity. Only when the deposit reaches the corresponding term can the interest be calculated at the corresponding interest rate. If the withdrawal is made in advance, the interest is usually calculated only according to the current interest rate listed on the withdrawal date.

The current interest rate of the bank is about 0.35%. Suppose an investor makes a three-year time deposit, but withdraws it in advance when the deposit term is one year, and the interest for this year can only be calculated according to the current interest rate.

Time deposit skills of Agricultural Bank of China

There are two ways to deal with time deposits after they expire, namely, automatic deposit or withdrawal at maturity. If the investor fails to withdraw after the expiration of the fixed term, the overdue deposit will only bear interest at the current interest rate.

If it is set to automatic rollover, the new deposit will automatically start with a fixed interest rate when it expires. Therefore, investors can agree on automatic deposit before the deposit expires to avoid unnecessary interest loss.