Time Deposit
All individuals and enterprises qualified to deposit money in BIN can open time deposit accounts with BIN.
Ⅰ.Time Deposit of Lump-sum Deposit and Lump-sum Withdrawal
The minimum amount is USD50, without any upper limit. The maturities range from one month, three months, half a year and one year. Savings will be renewed automatically on maturity date. The certificate of deposit is registered and can be reported loss. Partial or full amount withdrawal in advance is permitted. For withdrawal in advance, the interest is computed based on the actual deposit period. The interest of deposit due will be identified as principal (with withholding tax deducted).
Ⅱ.Negotiable Certificate of Deposit
The maturities of negotiable certificates of deposit range from one month, three months, half a year and one year. The interest rate is the same as that for time deposit of lump-sum deposit and withdrawal. The certificate of the deposit is not registered and cannot be reported loss. The interest will be prepaid in the form of discount, and the principal can be withdrawn on the maturity. Denominations of negotiable certificates of deposit include: USD50, USD100, USD500, USD1,000, USD5,000, and USD10, 000.
Ⅲ.Seven-day Call Deposit
This type of deposit does not have a fixed maturity term, but the client needs to inform the bank at least seven days in advance for any withdrawal to specify the date and the amount. The minimum amount of deposit is USD30, without any upper limit. |
