Wow, 5.5% Annual Interest Rate...

Hi everyone, I'm Little Treasure, a financial blogger who's not only knowledgeable about insurance

Before talking about deposits, let me give you an important reminder!

If you're planning to open a stock trading account or have already done so, please don't forget to do something crucial to avoid missing investment opportunities —

Just buy and sell one share!

Why?

Because in China, different stocks are classified into different categories, such as the GEM board, the New Three Board, and the Northbound trading platform...

And each category has its own independent trading permissions. For example:

Not only are there age and asset limits, but also time limits for securities transactions.

What is the term "securities transaction time"?

Simply put, it's the time elapsed since your first purchase or sale of stocks.

The mechanism is quite silly, if you've had over 24 months of trading experience, you're considered a mature "cabbage leaf" and allowed to participate in riskier GEM board transactions.

If it's less than 24 months, no matter how great your investment skills are, you won't be allowed to do so.

Therefore, considering the trading permissions and many other trading options, such as the Northbound platform and convertible bonds, which require at least 2 years of stock trading experience,

I strongly advise you to set up your account and buy one share to accumulate experience after opening your stock trading account.

Just like my friend, who initially opened a stock trading account solely to invest in funds with lower fees.

Who knew that I would introduce them to convertible bonds this year?

Heartened, they wanted to invest, but then discovered that they didn't meet the qualifications

So, even if you don't need it now, I recommend taking a little time to buy and sell one share to prevent future losses.

Which one should you choose?

I suggest choosing Agricultural Bank (601288), as the stock price is low, and the volatility is small.

It's less than RMB 300 per share, and even if you lose money, it won't be a big deal.

Buy tomorrow, sell the next day, and earn some experience with a little money~

... Remember, in my previous post, I mentioned that two major insurance companies will be launching new products. Let me review them again to avoid more people getting hurt.

One is about someone saying that four major banks recommend high-interest savings accounts.

What level?

The annual interest rate for deposits with a term of one year can reach as high as 4.7-5.5%!

It's not for large amounts, nor is it exclusive to high-net-worth individuals. Anyone can invest with a minimum deposit of RMB 8,000.

Many people have seen this and are excited —

"Isn't this just the high-interest savings account I've been searching for?"

What bank's financial products, what endowment insurance, is it even worth mentioning in front of this?

But actually, there are many such products out there. If you're not careful, you might lose money.

Many people know that banks can exchange foreign currency.

For example, you can exchange RMB for USD, GBP, or EUR. Each person has an annual limit of US$50,000.

Like deposits in RMB, there are many types, such as term deposits and large-scale savings plans.

However, most banks also offer foreign currency deposits.

We can exchange our RMB for USD at the bank and then deposit it.

Is it safe?

It's safe, just like deposits in RMB. For amounts up to RMB 500,000, it's fully guaranteed.

According to some friends and bank information, even small deposits can earn a 4.7% interest rate, while larger deposits can earn as much as 5.5%

But why did I say it might lose money?

The key issue is the exchange rate.

For example, today we exchanged RMB 70,000 for USD 10,000 to deposit it.

According to a 5.5% interest rate, after one year, the principal and interest would be RMB 105,500.

However, after one year, the exchange rate has appreciated.

We can only exchange back USD 10,000 for RMB 69,000.

One way or another, we've lost RMB 1,050.

... Remember, in my previous post, I mentioned that two major insurance companies will be launching new products. Let me review them again to avoid more people getting hurt.

One is about someone saying that four major banks recommend high-interest savings accounts.

What level?

The annual interest rate for deposits with a term of one year can reach as high as 4.7-5.5%!

It's not for large amounts, nor is it exclusive to high-net-worth individuals. Anyone can invest with a minimum deposit of RMB 8,000.

Many people have seen this and are excited —

"Isn't this just the high-interest savings account I've been searching for?"

What bank's financial products, what endowment insurance, is it even worth mentioning in front of this?

But actually, there are many such products out there. If you're not careful, you might lose money.

Currently, the top two products among over a hundred endowment policies available will be discontinued by the end of the month. If you want to "get ahead" and lock in your returns, hurry up and consult with a financial advisor to plan your investment!