简体中文 | ENGLISH


Online Banking

 
 

Corporate Savings

 
 


Corporate Term Deposit


 

Introduction

Corporate term deposit refers to the deposit saved by corporate customers with the temporarily idle funds, and the savings term shall be specified in the contract between the corporate customer and Bank of China. When the deposit is withdrawn upon maturity, the interest shall be calculated in accordance with the interest rate agreed on the deposit date.

Currency

RMB term deposit and foreign currency term deposit.

Term

The savings term of RMB term deposit can be three months, six months, one year, two years, three years, and five years for your reference.
Foreign currency term deposit consists of small foreign currency term deposit (less than USD 3 million or its equivalent in foreign currency) and large foreign currency term deposit (more than USD 3 million or its equivalent in foreign currency). Savings term includes one months, three months, six months, one year and two years for your reference.

Minimum Initial Deposit

RMB 10,000 (or its equivalent in foreign currency), which must be deposited in a lump-sum.

Interest Rate

In line with the interest rate announced by the People's Bank of China

Interest Calculation Method

When RMB corporate term deposits are withdrawn upon maturity, the interest shall be calculated in accordance with the corresponding interest rate of term deposit announced by the People's Bank of China on the deposit date and be withdrawn together with the principal. In case of interest rate adjustment within the deposit period, the interest may not be calculated on a multi-stage basis. If the deposit is not withdrawn on the maturity date, the interest of the very period shall be automatically transferred into the principal, and be automatically renewed in line with the same-level listed interest rate announced by the People's Bank of China on renewal date and the original agreed savings term.

When small foreign currency term deposits are withdrawn upon maturity, the interest shall be calculated in accordance with the relevant interest rate of term deposit announced by Bank of China Trade Association on the deposit date, and be withdrawn together with the principal. In case of interest rate adjustment within the deposit period, the interest may not be calculated on a multi-stage basis. If the deposit is not withdrawn on the maturity date, the interest of the very period shall be transferred into the principal, and be automatically renewed in line with the same-level listed interest rate announced by Bank of China Trade Association on renewal date and the original agreed deposit period.

Bank of China can provide prime rate for large foreign currency term deposits without automatic renewal.

Target Customers

All enterprises, public institutions, government agencies, armed forces, social organizations and self-employed businesses which are qualified to open RMB corporate current deposit accounts can open RMB corporate term deposit accounts, and transact RMB, foreign currency term deposit business.

Required Documents

When opening the term deposit account, the corporate customer is required to submit the "Bank of China Limited corporate deposit receipt" and the specimen stamp to Bank of China. Bank of China shall withdraw the deposit funds from the corporate current deposit account and open a term deposit account for the customer, meanwhile, the bank shall issue a registered "confirmation letter of corporate term deposit".

Service Channels

Institutions above Bank of China Limited sub-branch (offices included) approved by China Banking Regulatory Commission, the People's Bank of China and State Administration of Foreign Exchange can transact corporate term deposits business.

Kind Reminder

1. Corporate term deposits can be withdrawn in advance, with the interest calculated according to the actual days of deposits and the interest rate of current savings listed on the withdrawal date. The interest shall be withdrawn together with the principal. In case of interest rate adjustment, the interest may not be calculated on a multi-stage basis. Additionally, the corporate customer can apply for pledge loans from Bank of China Limited with the "Bank of China corporate term deposit receipt (pledge loans exclusive)", which is issued for replacing the confirmation letter.

2. Large foreign currency term deposit refers to the foreign currency deposit with the minimum initial deposit over USD 3 million, GBP 2 million, EUR 3.4 million, JPY 300 million, HKD 23 million, CAD 4.4 million, CHF 5.3 million. For large foreign currency term deposits, the customer can be provided with the prime rate.

3. In case the corporate customer loses the savings confirmation letter, Bank of China may not accept loss report, or issuance of supplementary piece. The customer can withdraw the deposit with corporate official letter.

  [ Close Window ]
Personal Banking Login
Personal Banking(VIP) Login
Corporate Banking Login



   Corporate Financing
   Trade Services
   Corporate Financial Services
   RMB Settlement Services
   Corporate Savings
   Other Services



 
  Site Map | Contact Us | Term & Conditions | Copyright | 京ICP证 060399
 
Copyright © BANK OF CHINA(BOC) All Rights Reserved.