Name
Savings Treasury Bond (Electronic)
Introduction
Savings treasury bond (electronic) (hereinafter abbreviated as "savings treasury bond") is a type of non-negotiable bonds with its creditors rights recorded in electronic form, issued by China's Ministry of Finance to attract savings deposits of Chinese citizens. Approved by the Ministry of Finance and People's Bank of China, Bank of China has been on the first list of trial commission agency banks of savings treasury bond.
Our Advantages
1. Superior credit rating with best safety. Since the savings treasury bond (electronic) is the kind of treasury bond issued by the Ministry of Finance on behalf of China's central government and thus have been assured by state credit, upon the maturity of which the Ministry of Finance is responsible for the repayment of the principal with interest. Therefore, its superior credit rating and avoidance of principal loss are far more advantageous than other investment instruments guaranteed by commercial credit.
2. Stable yield with exemption from interest tax. With interest rates fixed and the interest income exempted from taxation, the coupon rate of the savings treasury bond (electronic) is much higher than that of after-tax income of bank savings deposit with the same due period. Within the whole deposit and re-deposit period before maturity, the face value of such bond naturally gains interest with the accumulation of time but without riskes arising from price fluctuation.
3. Convenience for purchase and more scientific management. The savings treasury bond (electronic) is available, for purchase by urban and rural residents in over 30000 outlets of Bank of China across the provinces, cities and autonomous regions; with creditor right recorded by computer system and access to re-check and inquiry for creditor right by telephone. The management of such bonds is more scientific and the creditor right is much safer.
Target Customers
Any individual investors (including foreign citizens) with valid identity documents and full civil capacity.
Process
The real-name system is adopted to open a treasury bond (electronic) custodian account. While opening an account, investors should bring valid identity documents in accordance with the requirements of the Rules of Individual Deposit Account System and the Administrative Rules for RMB Bank Settlement Accounts. Only one treasury bond custodian account can be opened for each set of valid identity documents. For those investors who have opened bonds custodian account of book-entry treasury bond for counter transaction services, they only need to add the savings treasury bond (electronic) function on the counter.
While opening a treasury bond (electronic) custodian account, investors should carefully read the Treasury Bond (electronic) Business Rules of Bank of China and fill out the Application Form for Opening Treasury Bond (electronic). Account with the confirmation of the signature. One cash account should also be designated. The account holder of the cash account and the custodian account should be the same person. The cash account can be changed.
The certificate for the treasury bond (electronic) custodian account is "the Bonds Custodian Account Card of Bank of China" ("the Account Card" for short). The certificate for customers to conduct the treasury bond services is the cash account deposit certificate (“the Cash Account”for short). The cash account must be the personal settlement account with withdrawal by password, including: debit cards、current all-in-one accounts and ordinary current passbooks.
I. Investors shall open a personal treasury bond account in Bank of China.
Prior to the purchase of savings treasury bond, investor needs to open a personal treasury bond account in Bank of China.
When opening a personal account of treasury bonds, customer shall, holding his own valid identification as well as cash account (Great Wall electric debit card, or current all-in-one passbook or ordinary current personal settlement account both of withdrawal function by password), go to a network outlet of with such transaction of Bank of China and apply for account opening over counter. During trial period of such bond sales, opening an account is free of any charge.
Main procedures of account opening: reading Transaction Rules for Savings Treasury Bond(Electronic) of Bank of China; filling in an account opening application and signing accordingly; submitting the application form, personal valid identification, designated cash account to a teller; inputting cash account password with teller's instruction and so on.
After completion of account opening, Bank of China will provide investor with Bond Custody Card, Savings Treasury Bond Custody Account Book, Confirmation Letter of Savings Treasury Bonds Subscription, etc.
Notes: if investor also wants to handle counter transaction of book-entry treasury bonds in Bank of China, it is necessary to additionally open relevant function. Corresponding charging rates as well as account opening process will be implemented in accordance with over-counter transaction rules for book-entry government bonds.
While buying savings treasury bond, should investor, already in possession of bond custody account in Bank of China, need to open another account?
If investor already opened a bond custody account for book-entry treasury bonds over-counter transaction in Bank of China, then there is no need to open another account and instead only a cost-free transaction for adding the function of savings treasury bond is required to be conducted at the counter of network outlet of Bank of China.
Main process: reading Transaction Rules for Savings Treasury Bond (Electronic) of Bank of China; filling in an account opening application and signing accordingly; submitting the application form, personal valid identification, designated cash account information to a teller; inputting cash account password with teller's instruction and so on.
Bank of China will provide investor with "Savings Treasury Bond Custody Account Book" upon completion of such operation.
Purchase Notice
Investors, while holding his or her own cash account, can go to any network outlet of Bank of China with operation service of savings treasury bond for the purchase transaction.
Monetary amount of savings treasury bond shall be RMB 100 or an integral multiple of RMB 100 and the relevant amount limit of single phrase of treasury bond shall be subject to corresponding regulations by the Ministry of Finance.
Inquiry or Check of the Creditor Right of Savings Treasury Bond
(1) Savings treasury bond custody account book printed by Bank of China records details of the relevant savings treasury bond transactions handled by investors in Bank of China. This account book can be written up in any network outlet during business hours. In order to ensure information safety for investors, such write-up needs investors to handle with the cash account as well as the password.
(2) During the business hours of savings treasury bond transaction, bank statement printing service is available to customers and, to ensure safety of investors’ information, printing such statement requires investors to hold the cash account as well as the password.
(3) During the business hours of savings treasury bond transaction, customers may dial our service hotline at 010-83670055 to operate relevant inquiry.
(4) Should customers have any doubt about the query result by the three means above, they may dial the verification telephone of the Central Government bonds Registration and Clearance Co., Ltd at 010-66005000 to verify the relevant creditor right (such inquiry only provides access to the treasury bonds balance on the previous day).
Notes: The initial password of Bank of China's service hotline and the above government bonds company's verification telephone is set as the last six valid numbers on ID Card of respective investors. In case of the last six numerals of ID Card numeral section less than six numbers, please add one or more zeros before the numeral till it is in six digits. Investors had better revise it timely.
Whatever inquiry means may be applied, investors shall, upon discovering any discrepancy between query results and actual handled transaction, contact the customer service center by calling 010-95566.
FAQ
1. In case that investors happen to need unscheduled fund after the purchase of savings treasury bond, then how can they deal with it?
(1) Investors may handle payment before bond maturity within time period promulgated by the Ministry of Finance, and when conducting such transactions, customers shall come over the counter of relevant network outlet with the valid identity documents, cash account as well as the password.
(2) Investors may apply for pledged loan with savings treasury bonds according to relevant regulations or rules by People's Bank of China and Bank of China.
2. How can investors handle non-deal transfer transaction of savings treasury bond?
When handling savings treasury bonds non-deal transfer between investors, it is required that transferor shall, with his own cash account as well as password, and valid identity documents of both parties, legal agreement, notarial deed of gift or lawful succession certificate, arrive in network outlet to handle over-counter.
3. What fees should be paid when investors handle savings treasury bond transaction?
Bank of China strictly complies with the relevant regulations or rules by the Ministry of Finance and People's Bank of China when charging savings treasury bond operations of payment before maturity or non-deal transfer. Corresponding handling fee is as follows:
Notes: (1) If investors need to add over-counter transaction function of book-entry treasury bond in his savings treasury bond custody account, accordingly such operation is applicable to the charge for book-entry treasury bonds transaction. (2) Provided that any adjustment occurs to above charge, official advertisement by Ministry of Finance as well as Bank of China shall be corresponding final confirmation.
4. How can investors handle interest and maturity payment of savings treasury bond?
Upon time for savings treasury bond interest or maturity payment, investor needn't go to Bank of China for relevant process. Instead, Bank of China will automatically transfer corresponding interest and principal into investor cash account to ensure investor use in current morning of maturity date.
5. In case of withdrawal before maturity, relevant interest accrual shall be calculated according to corresponding regulations by the Ministry of Finance along with handling fee; for details of such transaction, customer may consult with local service telephone 95566 or the relevant outlet of Bank of China.
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