Deposits at Preferential Interest

Concept of Product

This is a service of foreign currency deposit whereby the non-Chinese residents in China who deposit over USD 50,000 worth of foreign currencies with our bank in a lump can be entitled to preferential interest rates.

Suitable for

1.      Chinese residents who have returned after a long stay abroad (more than 1 year, excluding those who went abroad for study, medical treatment and work in a consulate or embassy) ;

2.      Expatriates of foreign consulates and embassies in China and their family members;

3.      Students in China from foreign countries, Hong Kong, Macao and Taiwan;

4.      Those who are in China for medical treatment from foreign countries, Hong Kong, Macao and Taiwan;

5.      Representative offices of international and regional organizations in China;

6.      Foreign consulates and embassies in China

7.      Overseas offices of Chinese legal persons;

8.      Foreigners (including overseas Chinese), stateless persons and compatriots from Hong Kong, Macao and Taiwan who have lived in China consecutively for less than a year.

Advantages of Product

1.      Customer can enjoy an interest rate obviously higher than that of the small-amount foreign currency deposits of Chinese residents and the interest rate for savings of foreign residents;

2.      A large array of foreign currencies, which reach 8 at present.

3.      Flexible deposit term makes it convenient for customers to make a wealth management combination that fits in with their personal financial arrangement;

4.      Customers can receive good returns even for the funds that are idle for a short period of time;

5.      Simple formalities;

6.      Convenient premature withdrawal. A customer who needs funds for turnover can make premature withdrawal.

For full-amount premature withdrawal, interest is calculated and paid according to the interest rate listed on the day of withdrawal for the small-amount foreign currency demand deposits of Chinese residents; for partial-amount premature withdrawal, interest is calculated and paid according to the interest rate listed on the day of withdrawal for the small-amount foreign currency demand deposits of Chinese residents. If the balance still reaches the threshold amount for deposit, interest is calculated and paid on maturity still according to the original preferential interest rate. If the balance is less than the threshold amount for deposit, interest is calculated and paid according to the interest rate listed on the day of withdrawal for the small-amount foreign currency demand deposits of the same term of Chinese residents.

Information to be submitted

Non-resident customers may hold valid identity certificate (including foreign passport, home return permit and travel permit) to transact general domestic non-resident foreign currency deposits with our savings outlets or large-amount foreign currency deposits of preferential interest rate, if the deposits reach the prescribed threshold amount.

Management regulations

Please refer to Management Regulations for Preferential Interest Rate of Foreign Currency Deposit by Non-Resident within China of China Guangfa Bank