RMB Current Deposit

1. Product Definition

The corporate current deposit means that money deposited by a depositor can be withdrawn by him or her at any time, including deposit in settlement accounts and fund accounts of various enterprises and public institutions. 

2. Product Features

The interest rate of current deposit is subject to that given by the People’s Bank of China. The interest of corporate current deposit will be calculated at the current deposit rate listed on the date of settlement, and the interest will not be calculated on a staged basis in case of interest rate adjustment. Compared with other kinds of deposits, it features the best liquidity but low yield. 

The Bank can open four types of RMB corporate current deposit accounts for customers, namely basic deposit account, general deposit account, temporary deposit account and special deposit account. 

3. Target Customers

All eligible enterprises, public institutions, administrative organs, military forces, social organizations, self-employed entities and individuals (“depositor”) that meet the account-opening requirements laid down by the PBC can deposit money at any branch or sub-branch of the Bank and open current deposit accounts. 

4. Application Procedures

The management of the current deposits is based on accounts, pursuant to the Regulations on the Administration of Bank Accounts. When opening an account, the applicant must present the account opening application, business license and relevant documents, and have the seals reserved. Seals required include the special seal for finance, the seal of legal representative (or leading officer), and the seal of financial officer of the entity concerned. 

5. List of documents

● Account opening application

● Business license 

● Seals reserved, including the special seal for finance, the seal of legal representative (or leading officer), and the seal of financial officer of the entity concerned. 

● Other documents required by the Bank