The savings deposit is a method of deposit that sets no limits on maturity date, time and amount of deposit and withdrawal. According to the different methods of deposit and withdrawal, there are four types of savings deposits: current passbook deposit, current check deposit, time-demand optional deposit, debit card deposit and notice deposit.
Time-demand optional deposit is defined as one that does not have a definite term with the minimum amount of 50 RMB yuan in the account. that depositors can make deposits or withdrawals at any time without subject to amount limits after you are issued a deposit certificate or deposit passbook by the savings office. The certificate of deposit has two kinds: registered or unregistered. The unregistered certificate can t be reported loss. The passbook must be registered. The registered certificate or passbook can be reported loss.
Time-demand optional deposit is the most basic and conventional method of bank deposit. A client may make deposits or withdrawals at any time. For its free and flexible use of funds, the current passbook deposit is taken as the basis of clients financial asset managements. Such deposit boasts the flexibility of withdrawal at any time as a savings deposit, and also enjoys a preferential interest rate approaching that for time deposit.