Description

Education deposit is designed to encourage the residents to put in savings for the non-compulsory education (high school, secondary specialized and technical school, university, master and doctor education) of their children and to promote the development of the education.

Features

•  Special target clients: students of fourth grade in elementary school or higher.

•  Aggregate amount control, favorable interest rate and free of interest tax.

Handling Directions

•  Threshold of RMB 50, with an upper aggregate limit of RMB 20,000.

•  Deposit period : 1 year, 3 years, 5 years and 6 years.

•  A kind of time deposit by installment. You may negotiate the amount of monthly installment with the bank and put in the agreed-upon amount each month.

•  The lump-sum principal and interest will be withdrawn upon maturity on a one-off basis by presenting the passbook and the noncompulsory education certificate issued by school.