● Demand deposit is the deposit of RMB or foreign currency that can be placed or withdrawn anytime, without specifying the deposit tenor upon its placement.
● Currencies for demand deposit include RMB, USD, EUR, GBP, HKD, JPY, AUD, CAD, CHF and other free-trading currencies.
● Time deposit is the deposit of the corporate's idle funds for a specified tenor with the Bank, and in return, the interest will be paid at maturity by the Bank based on the pre-determined interest rate.
● Currencies for time deposit include RMB, USD, EUR, GBP, HKD, JPY, AUD, CAD, CHF and other free-trading currencies.
● Call deposit allows corporate customer to place the deposit in lump sum (either 1-day or 7-day call deposit) with the Bank for an unspecified period of time. A 1-day or 7-day prior notification to the Bank regarding the withdrawal date and amount is required for the deposit withdrawal.
● 1-day and 7-day call deposit are available for RMB, only 7-day call deposit is available for foreign currencies.
RMB Corporate Agreement Deposit occurs when the total deposit amount in the settlement account of the corporate customer exceeds the designated amount required for the account, the net balance will be transferred to the RMB Corporate Agreement Deposit Account, enjoying a preferential interest rate.
Negotiated Deposit● RMB Negotiated Deposit is the tailor made deposit for funds with special purpose, with the Bank and the corporate customer coming into agreement on the interest rate, deposit tenor, interest settlement and payment method, default penalty, etc.
● In general, Negotiated Deposit has longer deposit tenor and larger deposit amount.
The product is based on the general foreign currency demand deposit account opened by corporate clients. Clients can access the account at any time without agreed terms of deposit. The bank would calculate the interest with different interest rate layers according to clients’ daily account balance.
Currencies for the product include USD, HKD and EUR.
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