日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Banks' group e-deposits offer higher interest rates

By Jiang Xueqing | China Daily | Updated: 2020-04-28 09:46
Share
Share - WeChat
A branch of Bank of China in Lianyungang, Jiangsu province.[Photo by Wang Chun / For China Daily]

Taking a leaf out of e-commerce book, an increasing number of commercial banks have started allowing customers to form groups to make term deposits this year, as part of the efforts to gain access to a larger number of customers.

Available on mobile applications or social media platforms of certain banks, the new product allows a customer to invite his or her friends or social media contacts to form a group of two, three or five people, each of whom agrees to deposit a minimum amount of money at a bank offering such products, with the maturity of deposits ranging from three months to three years.

Compared with conventional deposits, this kind of product has more favorable terms, which allow each group member to earn higher interest on a deposit with the same maturity and the same amount of money.

China Construction Bank Corp, the country's second largest State-owned commercial lender by assets, is currently providing a few such products on its mobile banking app. A three-year deposit for a group of two people, for instance, offers an annual interest rate of 3.8 percent, and each person should deposit a minimum of 20,000 yuan ($2,823).

For a CCB customer who has not formed or joined any group, however, the bank's three-year deposit rate is 2.75 percent.

Smaller banks offer even higher rates for these innovative deposit products.

Bank of Shanghai Co Ltd, a city commercial lender based in Shanghai, is providing a three-year deposit to a group of five people at an annual interest rate of 4.125 percent, with each member depositing at least 50,000 yuan.

The interest rate is much higher than that of the bank's three-year deposit of 50,000 yuan for a single customer, which is 3.6 percent.

The new product is available on the bank's WeChat platform, along with several other products targeting a group of three or five people, with different maturity and different minimum deposit amount.

"This is an innovation of marketing strategies for commercial banks, which have learned from the idea of online group buying. It demonstrates that competition among banks for customers and deposits has become increasingly intensified," said Dong Ximiao, chief analyst at the Zhongguancun Internet Finance Institute.

Whether a deposit product meets regulatory requirements depends on the result of analysis on each product, Dong said.

Bank of Shanghai's three-year deposit rate of 4.125 percent for a group of five people is within the scope of regulations, for it does not exceed the general deposit rate cap under China's macro-prudential regulation framework, which is 50 percent higher than the three-year benchmark deposit rate of 2.75 percent.

However, some banks created a controversy by allowing each member of a group to deposit a minimum of 50,000 yuan to earn a yield as high as that offered by a large-denomination certificate of deposit, for which the threshold for individual subscription is 200,000 yuan, he said.

Zeng Gang, deputy director-general of the National Institution for Finance and Development, said banks are paying more attention to online marketing because of the novel coronavirus outbreak. As long as a bank has launched this kind of product, others may follow its example.

It is also worth noting whether such deposit products will trigger an increase in the banking sector's liability costs, Zeng said.

Earlier this year, China's central bank further strengthened regulation of deposit interest rates, stating clearly that it will include the minimum rates of return on structured deposits at commercial banks in its macro-prudential assessment system.

The central bank is expected to reduce the liability costs for banks, drive loan pricing lower and underpin the real economy by taking forceful measures, said analysts led by Ma Kunpeng with SWS Research Co Ltd in a report.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 天天舔天天舔 | 亚洲精品综合久久 | 午夜视频国语 | 国产亚洲精品影视在线 | 国偷自产av一区二区三区 | 国产亚洲精品久久一区二区三区 | 亚洲精品在线视频观看 | 亚洲日韩视频 | 国产午夜精品AV一区二区 | 久草在线国产 | 日韩欧美二区在线观看 | 无码日韩精品一区二区免费 | 久久日本精品国产精品白 | 在线播放av片 | 午夜在线亚洲男人午在线 | 国产馆精品推荐在线观看 | 日韩免费一级片 | 欧美一区黄 | 国产精品久久久久久久久 | 色人人| 三级黄色网址 | 精产国产伦理一二三区 | 亚洲日本va在线视频观看 | 国产精品视频免费视频 | 亚洲ci网 | 亚洲国内精品 | 久久99国产精品视频 | 日本视频高清免费观看xxx | 国产自产拍精品视频免费看 | 国产成人一区二区 | 欧美日本中文 | 久久亚洲国产精品五月天婷 | 国产成人福利视频在线观看 | 好叼操 | 婷五月综合| 日韩精品极品视频在线观看免费 | 亚洲免费人成 | 免费看特黄特黄欧美大片 | 91久久国产口精品久久久久 | 日韩精品一区二区三区 | 精品国产一区二区三区香蕉沈先生 |