Deposit information
CD explanation
CD is a type of saving product offered by banks, where the depositor deposits funds into the bank for a fixed period, earning interest at a fixed Interest Rate.
Interest type
Simple Interest: Interest = Principal × yearInterest Rate × Deposit year number
Compound Interest: Maturity amount = Principal × (1 + yearInterest Rate)^Deposit year number
Advantages
- Interest Rate is relatively high, stable income
- Low risk, safe principal
- Suitable for conservative investors
- Can be withdrawn in advance (may lose some interest)
Notes
- Withdrawal in advance may be calculated at the current Interest Rate
- Different banks may have different Interest Rates
- Large deposits may have a higher Interest Rate
- Consider the impact of inflation on actual income
- It is recommended to compare the deposit products of multiple banks
Return rating standard
- Excellent: year return > 3%
- Good: year return 2-3%
- Average: year return 1-2%
- Low: year return < 1%