The RMB renewal and interest payment deposit refers to a large value term deposit whose principal is deposited by lump-sum, interest is withdrawn by installment and principal is repaid at due.

Deposit term

The terms are 1 year, 3 years, and 5 years respectively.

Minimum amount

The Minimum amount of this deposit is RMB 5000, without upper limit.

Saving and Withdrawal rules

Customers can only make cash deposit, withdrawal and cancel the account at the account opend branch.

Interest accruing rules

1. Interest withdrawal day is on the same day of the month next to the account opening month.

2. Customer can withdraw the interest every month on the interest maturity date. If the maturity day is missed, the customer can withdraw it later, but no compound interest is accrued.

3. Interest tax (if any) is not deducted when interest is withdrawn, and is deducted at once when account is cancelled.

4. If there's any interest rates change announcement made during the maturity of the deposit, interest is still calculated based on the announced deposit interest rate on the account opening day.

5. Interest rate is based on the announced principal renewal interest payment deposit interest rate of the same term on the account opening day.

6. If principal is withdrawn ahead of maturity, interest within the saving period is calculated based on the announced current deposit interest rate on the withdrawal day, and extra interest and interest tax (if any) will be deducted from the principal.

7. If principal is withdrawn post the maturity, extra interest on the principal will be paid for the additional period based on the announced current deposit interest rate on the withdrawal day.

8. When the customer is cancelling the account and withdrawing the interest, the account might be in deficit due to interest tax (if any) deduction. The amount will be deducted from the principal.