|
|
 |
|
|
|
|
|
|
Corporate Information
|
|
|
|
|
Corporate Internet Banking
|
|
|
|
|
|
 |
|
|
|
|
|
Time deposit
| | |  | |
Time deposit is a deposit service that offers better yield. Your company could deposit unused fund within a certain time period into the bank in a lump sum, agree with the bank on a fixed deposit tenor and withdraw the principal and interest upon maturity against the certificate of deposit.
| |  RMB Time Deposit | | |
- Tenor
The tenor varies from three months, six months to one year. The principal should be deposited at one time. A certificate of the deposit will be issued by the bank.
- Minimum amount: RMB10,000.
- Interest Rate
The interest will be calculated at the rate regulated and published by the People’s Bank of China on the deposit date and paid together with the principal upon maturity. In case there is an interest rate adjustment within the tenor of deposit, the original rate on the certificate of deposit will apply for the full tenor of the deposit.
- Withdrawal
(1) Advanced withdrawal: if the deposit is withdrawn before maturity, the interest will be calculated with the current deposit interest rate issued on the date of withdrawal. If the deposit is partly withdrawn before maturity, the amount which is withdrawn before maturity will be calculated at the current deposit interest rate published on the date of withdrawal, while the remaining balance, if above the minimum deposit amount, will be calculated according to the original interest rate and tenor and given a new certificate of deposit to replace the original one, or will be cleared after closure of the account, if lower than the minimum amount.
(2) Withdrawal upon maturity: your company could transfer the deposit fund to your bank account with two copies of certificate for account crediting and the certificate of deposit endorsed by your authorized signature or corporate chop. In case the maturity date is a legal holiday, our bank could conduct the account transfer the day before the holiday upon your application and this will not affect the calculation of interest.
(3) Rollover upon maturity: our bank will take back the original certificate of deposit and replace it with a new one after all the interest being cleared. The new tenor will be started at the date of rollover. In case the formalities for rollover are not fulfilled by the client upon maturity, the deposit will further accrue interest at the current deposit interest rate published on the date of withdrawal starting from the maturity date. Foreign Currency Time Deposit | | |
- Type
Foreign currency time deposit can be divided into small amount deposit (with amount lower than USD3,000,000 equivalent) and large amount deposit (with amount above USD3,000,000 equivalent).
- Currency
Our bank accepts foreign currency time deposit in US dollar, Japanese Yen, Euro, British Pound, Hong Kong Dollar, Australian Dollar and many other currencies.
- Tenor
Its tenor varies from one month, three months, six months, one year to two years.
- Minimum amount
The minimum amount for small amount deposit should be USD10,000 equivalent.
- Interest Rate
For small amount transactions the interest will be calculated at the rate published on the deposit date. For large amount transactions the interest will be calculated at the rate negotiated and agreed by the depositor and the bank and paid together with the principal in original currency upon maturity. The maturity date is the same day in the calendar month and calendar year according to the fixed tenor.
- Withdrawal
(1) Advanced withdrawal: your company could withdraw the deposit partly or wholly before maturity. The part withdrawn before maturity will be calculated at the current deposit interest rate. If the deposit is partly withdrawn before maturity, the remaining amount, if above the minimum deposit amount, will be given a new certificate of deposit with the interest rate and tenor unchanged to replace the original one.
(2) Withdrawal upon maturity: your company could withdraw and transfer the deposit fund to your bank account with the certificate of deposit endorsed by your authorized signature or corporate chop upon maturity. In case the maturity date is a legal holiday, your company could withdraw the deposit the day before the holiday and this will not affect the calculation of interest. Automatic rollover upon maturity: If the deposit is not withdrawn upon maturity, it will be automatically rolled over according to the original tenor and the basic interest rate. Upon maturity of the rollover, double interest will be paid at rate for the same tenor on the date of rollover, while withdrawal within the tenor of rollover will be handled as advanced withdrawal. | | | | | | | |
|
|
|
