What Is a Foreign Deposit?

Deposit means that the depositor temporarily transfers or stores funds or currency in a bank or other financial institution under the condition of retaining ownership, or that temporarily transfers the right to use to the bank or other financial institution's funds or currency. Financial activities or activities are also the bank's most important source of credit funds.

[cún kun]

Deposit means the depositor is keeping

Word : Deposit

Pinyin : cún kun

English : Deposit

Basic explanation :

Deposit refers to the money deposited in banks and credit cooperatives; it also refers to the money deposited in banks and credit cooperatives.

Citation explanation :

Deposit is one of the most basic businesses of a bank. Without a deposit, there is no loan, and there is no bank. From the time of creation, deposits precede banks. In the Tang Dynasty, there was a locker room dedicated to receiving and keeping money, and depositors could use "posts" like checks or other tokens to pay. The money changers that appeared in Europe in the Middle Ages also accepted customers' deposits, which were custody of money and did not pay interest, which was the germination of foreign bank deposit business. With the emergence of banks and other financial institutions, the bank's deposit business has developed rapidly.

Common skills

Saving money for convenience is definitely not worth it

Some people save thousands of yuan or even tens of thousands of yuan into the current period just to facilitate the withdrawal. This approach is certainly not desirable. The annual interest rate on demand deposits is 0.36%, the one-year annual interest rate is 2.25%, the three-year annual interest rate is 3.33%, and the five-year annual interest rate is 3.60%. If you take 50,000 yuan as an example, after deducting interest tax,

The deposit interest rate refers to the currency in which the customer deposits the bank account in accordance with the agreed terms, and the interest amount within a certain period of time is the interest rate of the loan amount, ie the principal. There are current and regular interest rates, and annual / month / day interest rates. ^[2]

Deposits can be classified in a variety of ways, such as original deposits and disbursements according to generation methods, current deposits and time deposits according to maturity, and according to different depositors (in the case of China), they can be divided into unit deposits And personal deposits. Personal deposits are resident savings deposits, and are the currency in which individuals deposit into the bank.

Repayment per period = principal per period + interest per period

Principal per period = total loan amount / required years

Interest per period = (total loan-repaid last year) * annual interest rate

Monthly repayment = total loan / required years + (total loan-repaid last year) * monthly interest rate