☆ Introduction Renewal & Interest Payment Deposit refers to the service that customers deposit principals at one time and set deposit term and interest payment day; and withdraw the principals at one time on the interest payment day and withdraw the interests at different times.
☆ Minimum deposit amount and deposit terms The minimum deposit amount of Renewal & Interest Payment Deposit is RMB 5000. The Renewal & Interest Payment Deposit terms are one year, three years, and five years respectively. The interest payment day of Renewal & Interest Payment Deposits will be set by customers when opening account; and the interest payment can be made once a month or several months a time. The interest payment can't be made ahead of interest payment day; and the interest payment can be made at any time after the interest payment day, the compound interests won't be paid, though.
☆ Deposit interest rates The interests will be paid according to the different deposit terms of Renewal & Interest Payment Deposit interest rates announced at the day when the deposit is made. The interests will not be calculated in different interest timeframes even if there are some interest rate adjustments. If the principals are withdrawn ahead of the maturity day, the interests within the deposit term will be paid according to the interest rate of Lump Fixed Deposit, and the extra interests will be deducted. The interest for RMB fixed deposit of renewal & interest payment is debited on each account based on actual-over-365.
☆ Features 1. The minimum deposit amounts are relatively high. 2. Multiple interest withdrawals are available and the withdrawals are made flexible. 3. The funds can be used to pledge loans. 4. The funds can be withdrawn ahead of the maturity day. When customers need to withdraw principals ahead of the maturity day, the interests within the deposit term will be paid according to the interest rate of Lump Fixed Deposit, and the extra interests will be deducted.
☆ Service channel 1. Account opening: banking outlets and Internet Banking. 2. Interest withdrawal: banking outlets and Internet Banking. 3. Withdrawal on the maturity day: banking outlets. 4. Withdrawal ahead of the maturity day: banking outlets. 5. Inquiries: banking outlets, Internet Banking, ATM, Telephone Banking, and self-service terminals.
☆ Operation guide Account opening: customers need to go to banking outlets with valid IDs to apply for opening 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.
The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.