Is there a SMS reminder for automatic deposit transfer at maturity?

there will be SMS notification for automatic rollover of time deposits 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 of deposit

Deposit refers to the temporary transfer or storage of funds or currency by depositors in banks or other financial institutions under the condition of retaining ownership, or the temporary transfer of the right to use to banks or other financial institutions. It is the most basic and important financial behavior or activity, and it is also the most important source of credit funds for banks.

deposit is one of the most basic businesses of a bank. Without deposit, there is no loan, and there is no bank. From the point of time, deposits are earlier than banks. In the Tang Dynasty, there appeared a special counter for receiving and keeping money in China, and depositors could draw money with "stickers" similar to checks or other tokens. Money changers that appeared in Europe in the Middle Ages also accepted customers' deposits, which belonged to the nature of money custody and did not pay interest, and were the seeds of foreign bank deposit business. With the emergence of banks and other financial institutions, the deposit business of banks has developed rapidly.

2. Common skills of saving money

1. It is definitely not cost-effective to save money just for convenience

Some people deposit thousands or even tens of thousands of yuan in the current account just for convenience, which is certainly not desirable. The annual interest rate of current deposit is .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 3.6%. If you take 5, yuan as an example, after deducting interest tax, the deposit interest earned in three years is about 3,24 yuan, and the interest earned in five years is about 5,58 yuan. If you save this 5, yuan as a current account, the interest is only 288 yuan a year, even if you save it for three years, the interest is only about 1, yuan. It can be seen that the same is 5, yuan, the deposit period is the same, but the deposit method is different, and the interest gap between three-year current demand and three-year fixed deposit is still not small.

2. The longer the shelf life, the more cost-effective it may be

but it is not 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 a long time. If money is urgently needed, it will be withdrawn in advance, and there will be a phenomenon that "the longer the deposit period, the more interest will suffer". In view of this situation, the bank stipulates that the interest for the part withdrawn in advance shall be calculated according to the current period, and the interest for the part not withdrawn in advance shall still be calculated according to the original interest rate. Therefore, individuals should choose the deposit term and type according to their different situations.

from the perspective of deposit interest rate, short-term deposit should be selected. On the one hand, the term of deposit has little influence on interest rate, and the gap between one-year deposit interest rate and five-year deposit interest rate is only .675‰ per month. On the other hand, the deposit interest rate is now the lowest in history, and there is little room for the interest rate to be lowered again. 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 while when the interest rate is raised, and you will suffer losses. Short-term deposits are highly liquid and can be re-deposited immediately after maturity.

4. The snowball saving method is more cost-effective

In the specific operation, we might as well adopt an ingenious method. You can deposit the rest of your money in a one-year fixed deposit every month. One year later, I have exactly 12 certificates of deposit in my hand. In this way, no matter which month you need money urgently, you can withdraw the deposit 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 term. This "snowball" method of saving money 5. Ensure that you will not lose the opportunity of managing money.

banks have launched automatic deposit transfer services. When saving, you should make an agreement with the bank for automatic transfer. In doing so, on the one hand, it avoids the loss that the deposit is not transferred in time after maturity, and the overdue part bears interest according to the current demand; On the other hand, if the interest rate is lowered soon after the deposit expires and there is no agreement on automatic transfer, the interest will be calculated at the lowered interest rate when it is re-deposited, while the interest will be calculated at the higher interest rate before the reduction. If the interest rate rises after the expiration, it can also be taken out and then deposited.