GoKunming Forums

Interest bearing accounts?

ksmcqueen (96 posts) • 0

Does anyone have any information about interest-bearing accounts in Chinese banks?

Please only post to this thread with the following information:
The name of the bank
The conditions of the account (minimum deposit, etc)
The interest rate (if known)
PLEASE do not post to this thread with unrelated information, rants about the evils of the banking system, something you heard about that maybe I should check out, and other bs. Please only verified, helpful information.


Dazzer (2806 posts) • 0

go and do your own market research and you will find that interest reates are lower than the rate of inflation. p.s. i'll post what i like ;p

Liumingke1234 (3297 posts) • 0

Take a chinese friend to any bank. Usually they have chart near the entrance that tells you what they are offering.

Haali (1176 posts) • 0

At China construction bank its about 3% on savings account (I just opened an account last month). You have to leave it in for at least 6 months to get your interest. Saving is not being encouraged by the state banks, as China has the highest saving rate in the world, and they want domestic spending to increase. As Dazzer said, it's lower than inflation, so keeping money loses value in purchasing power.

Magnifico (1981 posts) • 0

banks in new zealand have the highest interest rates?

maybe if it's possible to do international banking by internet and some countries allow you to deposit money in their banks without residing there, i would look into it at some point.

Xiefei (532 posts) • 0

Interest rates are generally low. If you're looking to earn interest, you should look at the various CDs on offer. Talk to the bank about 理财产品. Basically, they'll offer a higher rate if you're willing to park the money with them for fixed terms (3, 6 or 12 months).

AlexKMG (2361 posts) • 0

The banks will offer you trust products also, and might not tell you so or lead you to believe they are safe as cds. They yield on trust products are very tempting, usually over 5% even a one year. But the principal or interest isn't guaranteed like cds.

I know CCB gives me some under 3% rate on my auto renewing cd with them. Probably closer to 2% now with the latest round of Chinese interest rate cuts. The auto renew feature is nice and you only lose the interest for that 3 month period if you need to get the money earlier. One caveat is the cd balance won't show up at the ATM screen, so don't freak or forget it. Oh yes, a bit of paperwork to set it up, but less than 10 min after you get to teller.

Finally, I heard alipay has some kind of deposit account that yields 1-1.5% over cds. It's popular with young net savy Chinese.

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