Shanghai Pudong Development Bank-Large-amount RMB Negotiation Deposit

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Large-amount RMB Negotiation Deposit

Large-amount RMB Negotiation Deposit is the kind of deposit our bank opens for Chinese insurance companies, State Social Security Fund Association and execution organization of social security fund at provincial level for amount above the minimum deposit amount limit and tenor over five year.

Minimum deposit tenor

Five year

Minimum deposit amount

For large amount RMB deposit of Chinese insurance companies, the minimum deposit amount is 30 million; for those of state social security fund and execution organization of social security fund at provincial level the minimum amount should be 500 million.

Procedure

The interest rate, tenor, the way of interest calculation and settlement as well as the standard for punishment of default could be agreed by the depositor and the bank. Our bank will sign an official contract for such kind of deposit with the legal entity of Chinese insurance companies, state social security fund and execution organization of social security fund at provincial level and issue a certificate of deposit. Large amount Large-amount RMB Negotiation Deposit could not be withdrawn before maturity. However, the certificate of deposit could be pledged for the purpose of finance.

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