Personal Call Deposit

Brief Introduction

Personal call deposit is a kind of deposit that has no agreed deposit term and can be withdrawn only if a prior notice is given to the bank to indicate the time of withdrawal and the amount to be withdrawn. Irrespective of the length of the actual term, personal call deposit is classified into two varieties: 1-day call deposit and 7-day call deposit according to how long the notice is given in advance, the former requiring a one-day notice about the withdrawal of deposits and the latter a 7-day notice. The automatic redeposit of RMB call deposit is a personal financial product that is offered to you to facilitate your wealth management.

Characteristics

1.The interest rate is higher than that of demand savings.

2.The flexible deposit term allows convenient withdrawal and higher profits.

3.Suitable for large-sum savings with frequent deposit and withdrawal.

Requirement

The threshold of deposit and withdrawal is RMB 50,000.

Deposit term

Unlimited

Interest rate

1.Two interest rate levels based on 1-day or 7-day notice.

2.Interest is calculated according to the related interest rate level listed publicly on the day of withdrawal and the interest is settled along with the principal.

3.Interest will be calculated according to the interest rate for demand savings if the actual deposit term is shorter than the length of notice; withdrawal is made without prior notice; withdrawal is advanced or delayed although a notice is given; the amount withdrawn is more than or less than the agreed amount; the amount withdrawn is less than the minimum amount to be withdrawn.

4.If no withdrawal is made after a notice is given or a notice is cancelled in the length of the notice, interest is not calculated within the length of the notice.

5.If the part of deposit left after partial withdrawal is higher than the threshold amount of deposit, the receipt or voucher of call deposit needs to be filled out again for calculation of deposit term starting from the original account-opening date; in case the part of deposit left is lower than the threshold amount of deposit, the account will be closed and interest is calculated according to the interest rate listed publicly for demand savings on the day of closing or the deposit will be transferred to other deposit as requested by the depositor.

6.Interest is calculated deal by deal according to the interest rate listed on the day of withdrawal and the actual number of days, interest will not be accrued by period in case of an adjustment of interest rate.

Process

1.The deposit receipt is registered and marked with "Call Deposit".

2.For one-off full withdrawal, the deposit receipt will be taken back and the account will be closed; for partial withdrawal, if the part of deposit left is higher than the threshold amount of deposit, the receipt of call deposit needs to be filled out again for calculation of deposit term starting from the original account-opening date; in case the part of deposit left is lower than the threshold amount of deposit, the account will be closed and the deposit will be transferred to other deposit as requested by the depositor.

3.Automatic redeposit of RMB call deposit: A customer may hold valid personal identity certificate to receive the service with any outlet. The mode of demand savings account is adopted to print a clear account statement of deposit and withdrawal records. Meanwhile, the service can also be accessed via online banking to eliminate the need for counter transaction and the annoyance of queuing up. When opening the account, you may designate automatic redeposit so that the deposit will be renewed automatically every 7 days or every 1 day as you have selected.

Note

1.Money is deposited in a lump and can be withdrawn in a lump or in installments.

2.For purpose of withdrawal, a 1-day or 7-day notice must be given to the bank in the agreed mode and the deposit receipt must be presented.

3.Example of interest calculation for RMB call deposit of automatic redeposit: Mr. Zhang put in RMB 1 million for 7-day call deposit and selected automatic redeposit. When he withdraws the amount 10 days later (no need for prior notice), the interest is calculated this way: interest is calculated according to the interest rate for 7-day call deposit for the first 7 days and according to the interest rate for demand savings for the remaining 3 days. (The interest rate will be adjusted according to the statutory interest rate announced by the People¡¯s Bank of China. Please contact any business outlet of China Guangfa Bank for detailed information.) You may hold your own identity certificate to open a personal account with any outlet of CGB. An agent acting on someone¡¯s behalf needs also to produce his/her identity certificate.