The Industrial Bank's “Intelligent Notice Deposit” service is tailor-made for clients with different investment and wealth management demands. The service includes two products, namely the “Convenient Type” and the “Returns Type”. When activating this service, clients are not required to preset a deposit term in advance. On the contrary, the system will automatically choose the most suitable deposit type according to the time the account is kept, so as to achieve maximum gains.
★ Features of “Intelligent Notice Deposit (Convenient Type)”
Enjoy the convenience of a current deposit
Intelligent Notice Deposit (convenient type) is managed as a current deposit. It is tied to a current deposit in the same account, which means that clients can make deposits and withdrawals at any time. This makes it just as convenient as a current account.
No limitation of fund amounts
With Intelligent Notice Deposit (convenient) there is no limit on the number of deposits that can be made. All transferred funds enjoy the gains of deposit at notice by rule.
No need to specify deposit term
Clients are not required to specify a deposit term in advance. For accounts of RMB 50,000 and more, the bank will intelligently choose one day or seven day deposit rates for the calculation of interest according to the fluctuations in the balance of the account. At the same time, the interest will be automatically settled on a quarterly basis. The after-tax interest will be automatically transferred into the principal and be included in the next cycle of interest accrual.
★ Features of “Intelligent Notice Deposit (Returns Type)”
Seven days' accumulative interest
Once a client has registered “Intelligent Notice Deposit (Returns Type)”, the available funds a current account will be automatically transferred to the “Intelligent Notice Deposit (Returns Type)” account, enjoying the interest yields of deposit at notice. The minimum balance is RMB 50,000 Yuan, and amounts that can be transferred into the account must be in integral multiples of RMB 1,000 Yuan. “Intelligent Notice Deposit (Returns Type)” will automatically settle the interest once every week and the system will automatically transfer the interest and the available funds (integral multiples of RMB 1,000 Yuan) in the client's current account into the principal for continued gains. During the period of interest accrual, the funds in the current account will be automatically transferred to the “Intelligent Notice Deposit (Returns Type)” account once every week.
Smart Selection of Deposit Term
Clients of “Intelligent Notice Deposit (Returns Type)” are not required to preset a deposit term in advance. On the contrary, the system will automatically choose the most suitable deposit type according to the time the account is kept: if the deposit term reaches seven consecutive days, interest will be calculated according to the seven day deposit at notice interest rate; If the deposit term is less than seven days, interest will be calculated according to the one day deposit at notice interest rate. The service thereby provides truly easy wealth management and easy gains.
Some services enjoy the convenience of a current account
When a client makes a withdrawal (over the counter at IB, ATM or ATM of other banks), spends at a POS, bank-securities of third party depository (over the counter at IB, telephone bank, internet bank or securities traders) and makes a credit card automatic repayment, if the balance in the current account is insufficient, the system will automatically search the “Intelligent Notice Deposit (Returns Type)” account in the card and transfer the deficit into the current account. Besides, you can also make a withdrawal at any time over the counter at IB or through the telephone bank and internet bank as per the related regulations.
★ Services Application
Clients can apply for “Intelligent Notice Deposit” at any outlet of the Industrial Bank under the branch where the account was opened. Proof of identity and your IB wealth management card are required. The service can also be activated through the IB internet bank, telephone bank and mobile phone bank.
Handling procedure for the electronic channels :
〓 Internet Banking: Log on to internet banking (www.cib.com.cn) → select the ‘Wealth Management’channel → select ‘Notice deposit ’→ ‘Intelligent notice deposit ’.
〓 Telephone Banking: Dial the customer service hotline (95561) → select ‘2 - Personal banking’ → select ‘4 - Wealth management’ → select ‘5 - Notice deposit’.
〓 Mobile Banking: Lon on to mobile banking (wap.cib.com.cn) → select the ‘IB wealth management’ channel → select ‘Intelligent notice deposit’.
★ Wealth Management Example
Mr. Qian has RMB 300,000 in the current account of his wealth management card. The calculation of the current interest rate of 0.44% and seven-day notice deposit interest rate of 1.529% is as follows:
1. Mr. Qian hasn't registered for “Intelligent Notice Deposit”, so his annual interest yield is RMB 300000*0.44%=1320;
2. Mr. Qian has registered for the “Intelligent Notice Deposit” service, so his annual interest yield (calculated using 52 accumulative periods per year) is RMB 300000*[(1+1.529%/52)^52-1]=4621.56;
3. After Mr. Qian registered for “Intelligent Notice Deposit”, his annual interest yield increased by 3 times compared to his current deposit.