Interest On Foreign Currencies
Oct 2nd, 2005 under Banking
How much can I earn putting my non-yuan money into the banks here?
After some pondering, I found some answers at a bank:
(The rectangular-looking shapes were added to aid my explanation.)
Let’s say you have 100 Euros. And you want to put the money in the bank so that it earns you some interest 利率 [li4lv4]. One thing you can do is look at the answers I found (above).
The green rectangle shows figures pertaining to demand deposits 活期存款 [huo2qi1cun2kuan3]. This column shows (for different currencies) the interest rate you’ll get in a year if you just put your money in the bank but don’t lock it in for any fixed period. In the case of the Euro (look at the yellow rectangle), if you don’t spend the money you put in, you’ll get 0.1% of 100eur, which is 0.1eur. Not too bad, huh?
Now, if you want more interest, at least more than 0.1% then you can consider opening a fixed deposit 定期存款 [ding4qi1cun2kuan3] with the bank. This mean that you tell the bank that you’re going to put a certain amount (decided by you) with them for a fixed period of time (1 months, 3 months, 6 months etc.)
As we move to the right of the picture, the interest rates get larger: 0.75% for 1month, 1.125% for 6 months, and 1.3125% for 2 years.