What Are Thrift Institutions?
Savings institutions are financial intermediaries that provide special services for household savings deposits and investments. Savings institutions are also called frugal institutions. The nature and ultimate goal of a savings institution is not fundamentally different from that of a commercial bank. But its operating principles and methods are different from commercial banks. Because people generally think that any financial intermediary institution that takes deposits as the main source of funds and uses loans as the main source of funds is banks. But the savings institutions are all non-bank financial intermediaries. Because although its source of funds mainly depends on deposits, a large part of its use of funds is used for investment. The object of its loans is mainly its deposit users, rather than loans to the whole society like commercial banks. Savings institutions are therefore classified as non-bank financial institutions.
Savings institution
RMB savings business
Savings institution
Current savings deposits: Deposits starting from one yuan, issued by savings institutions to passbooks, withdrawing deposits based on passbooks, and can be deposited at any time after opening an account; full deposits and regular deposits: starting from 50 yuan, the deposit period is 3 months, half a year , 1 year, 2 years, 3 years, 5 years, the principal is deposited at one time; zero deposit and the regular savings deposit: generally from 5 yuan, fixed deposit every month, the deposit period is divided into 1 year, 3 years, and 5 years The deposit amount is determined by the depositor himself and is deposited once a month; the principal deposit and the regular deposit deposit: the principal is deposited once, generally starting at 5,000 yuan, and the deposit period is divided into 1 year, 3 years, and 5 years, and the payment is due once. The principal and interest are paid in installments against the certificate of deposit, which can be withdrawn once a month or several months; the whole deposit is zero and the time deposit is deposited: the principal is deposited once, usually starting from 1,000 yuan; the deposit period is 1 year, 3 years, 5 Withdrawal period is 1 month, 3 months, and half a year. The interest will be withdrawn when the period is settled. The deposit will be two-time savings deposit: generally starting from 50 yuan. The certificate of deposit can be divided into two types: registered and bearer. Lost report, anonymous report. The deposit period is not limited; OCBC (RMB) regular savings: OCBC, compatriots from Hong Kong, Macao, and Taiwan remit or bring foreign currency or foreign currency imported from or from Hong Kong, Macao, and Taiwan to the People's Bank of China and professional banks for RMB deposits. This deposit is a type of regular whole deposit, and the deposit period is divided into 1 year, 3 years, and 5 years. Deposit interest is calculated at a prescribed preferential interest rate. When opening an account, you should go through the storage procedures with a foreign exchange certificate or remittance certificate within the prescribed time, and withdraw the deposit with the certificate of deposit at the expiry date;
Foreign currency savings business
The types, interest rates, grades and interest payment methods of personal foreign currency savings deposits shall be implemented in accordance with the unified provisions of the head office of the People's Bank of China.
Personal housing savings business
The interest rate of housing savings shall follow the regulations of the People's Bank of China. The use of housing savings deposits must be directly linked to the construction and sale of commercial housing and must not be used elsewhere.
Financial services
Sale and redemption of securities such as Treasury bills, financial bonds, corporate bonds, etc. targeted at individual residents; small deposits of personal regular deposit certificates of deposit; other approved financial services. [1]
