The time Deposit is a method of bank deposit with a definite date of maturity, made for one time or by many times on schedule (during the appointed deposit term),or withdrawn together with the interest in a lump sum or by installment.
According to the way of deposit and withdrawal, the time deposit has the following categories: lump-sum deposit &. withdrawing, small savings for lump-sum withdrawal, interest withdrawal on a principal deposited, big money saving and small withdrawing time deposit, etc.
Lump-sum saving for small withdrawal time deposit refers to savings deposit whose principal is deposited at a time with the minimum amount of 1,000 RMB yuan. The maturities range from three grades: 1 year, 3 years and 5 years.
1.Lump-sum saving for small withdrawal time deposit has the characteristics of long maturity and high interest rate ,and suitable for depositing of savings that will not be used within a quite long period of time.
2.The deposit amount is set by the depositor. He can deposit money at a time every month. The interest rate is computed at the same rate on the lump-sum deposit &. withdrawal time deposit. The savings office will issue a deposit passbook(certificate) to him, with which the depositor can withdraw the principal by installment, or at a time by every month, 3 months or 1/2 year in the drawdown period, which can be negotiated between the savings office and the depositor. The interest is paid when the deposit is due.
3.Lump-sum saving for small withdrawal time deposit has the characteristics of long maturity and high interest rate ,and suitable for depositing of savings that will not be used within a quite long period of time.
III. Procedures for Account Opening来源:www.examda.com
1.In opening an account of time deposit of small savings for lump-sum withdrawal, the depositor shall present his or her his or her ID card or other valid credentials.
2. Such deposit may be withdrawn fully or partly prior to maturity for once, or, upon authorization in advance, and handled on agency renewal of depositing upon maturity by the bank.
3.At the time of account opening, the client may choose the method of withdrawal by password or with a passbook. If the method of withdrawal by password is chosen, the depositor shall enter on the spot a six-digit password into your savings account through the password processor on the counter.