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☆ Introduction
Lump fixed deposit refers to the service that customers set deposit terms when making deposits, and deposit principals at one time, after which they can totally or partially withdraw principals and interests.
☆ Features
1. Higher interest rates. The interest rates of fixed deposits are higher than that of current deposits, fixed deposit is a traditional wealth management tool. The longer the deposit term is, the higher the interest rate is.
2. The account can be set to re-deposit. Customers can set re- deposit term when making deposit; and the principals and post-tax interests will be automatically re-deposited according to the re-deposit term on the maturity day.
3. The funds can be used to pledge loans. If a fix deposit's maturity day is approaching, but a customer needs funds urgently, then the customer can apply for pledge loans to avoid interest loss.
4. The funds can be withdrawn ahead of the maturity day. If customers need funds urgently, they can also apply for withdrawing ahead of the maturity day. If the customer wants to totally withdraw the funds before the maturity day, the interest will be paid according to the announced current deposit interest rate at the withdrawal day; if the customer wants to partially withdraw the funds before the maturity day, the interest for the withdrawn part will be paid according to the announced current deposit interest rate at the withdrawal day, the interest for the rest part till maturity will be paid according to the announced fixed deposit interest rate quoted on the date of opening the account.
☆ Minimum deposit amount and deposit terms
1. The minimum deposit amount of RMB lump fixed deposit is RMB50, and the deposit terms are three months, half year, one year, two years, three years, and five years respectively.
2. The minimum deposit amount of foreign currency fixed deposit is normally not less the value of foreign current that is equivalent to RMB50.00, and the deposit terms are one month, three months, half year, one year, and two years respectively.
☆ Deposit interest rates
The interests will be paid according to the different deposit terms of lump fixed deposit interest rates announced at the day when the deposit is made. The interests of fixed deposit will be cleared up when the principals are gone; the interests will not be calculated in different interest timeframes even if there are some interest rate adjustments.
For the total or partial withdraws ahead of the maturity day, the interests of withdrawn part will be paid according to the announced current deposit interest rates at the withdrawal day, and the interests of remaining part will still be paid according to the interest rates on the original deposit certificates.
For the withdraws after the maturity day, the interests of the funds that has passed the set deposit terms will be paid according to the announced current deposit interest rates at the withdrawal day, after the set re-deposit has been made.
Interest for personal RMB current deposit shall be accrued aggregately on actual deposit days.
☆ Service channel
1. Account opening: banking outlets and Internet Banking (applicable to ICBC Money Link Cards or newly opened fixed accounts within Elite Club Account Cards).
2. Cash deposits: banking outlets.
3. Cash withdrawals: banking outlets.
4. Re-depositing from current deposits to fixed deposits: banking outlets and Internet Banking.
5. Re-depositing from fixed deposits to current deposits: banking outlets and Internet Banking.
6. Inquiries: banking outlets, ATM, Telephone Banking, Internet Banking, Mobile Banking, and self-service terminals.
☆ Operation Guide
1. Account opening: customers need to go to banking outlets with valid IDs to apply for opening lump fixed deposit accounts. If the customers entrust other people to open the accounts for them, the entrusted agents are required to provide their own IDs at the same time.
2. Deposit: you can just go to ICBC banking outlets to deposit with your various bank cards or passbooks issued by ICBC.
3. Withdrawal: you can just go to ICBC banking outlets to withdraw with your bank cards or passbooks, if the withdrawal amount is more than RMB 200,000 (including RMB 200,000), a one-day ahead appointment is needed to make with the withdrawal outlet. You need to provide your ID if you withdraw before the maturity day. If you entrust other people to withdraw for you, the entrusted agent is required to provide his/her own ID also.
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