“Enjoyable Deposit”: the Best New Year Present for Your Parents

'It surprises me that I can obtain monthly interest with a 5-year fixed deposit as if getting a salary per month! The 'salary' comes from my son!' As the spring festival was around the corner, Mrs. Chen who lives in Weiyang District, Xi'an city was elated for the 'new year present' from her son.

The above-mentioned fixed deposit which offers monthly interest is IB's 'Enjoyable Installment Interest Payment' deposit product of RMB 0.3 million, bought by Zhang Wen, the son of aunt Chen. This product has a higher interest rate than that of ordinary fixed deposit, and unlike ordinary fixed deposit that only allows one-off capital and interest, it enables one to obtain interest per month and enjoy the benefit of deposit in advance. According to current interest rate, Mrs. Chen's 'Enjoyable Installment Interest Payment' of RMB 0.3 million offers an interest of nearly one thousand yuan per month, satisfying her monthly expenditure.

'My mother is feeling her age, and I want to give her some money to show my filial piety.' Zhang Wen said. Zhang Wen hoped that this sum of money can meet her mother's daily needs and ensure wealth preservation and appreciation. After many comparisons, he chose IB's 'Enjoyable Installment Interest Payment' deposit product, launched in November of last year for the elderly.

As the aging process accelerates, the number of people aged 60 or above has reached more than 0.2 billion in China, accounting for about 16.1% of the total. Faced with such a huge aging population, how to create a richer, healthier and more colorful life for them is not only the concern of their sons and daughters but also what all financial institutions compete for. As a commercial bank that takes the lead in developing elderly care finance and serves nearly 1200 aged population, IB relies on 'Enjoyable Life', China's first elderly care financial comprehensive service solution, continues to tap the financial need of the elderly, devotes itself to product and service innovation, provides customized product and exclusive service, and makes an effort in 'seniors market'.

'Through research and analysis, we found that the elderly are expecting a wealth management product with a long term, low risk, high profit and strong liquidity.' Liu Jianyu, GM of IB's Elderly Care Finance Center, said that in order to live up to the expectation of the elderly, IB innovatively launched 'Enjoyable Deposit' fixed deposit products that possess advantages including higher profit than ordinary deposit, safety and flexibility and withdrawal in emergency. 'Enjoyable Installment Interest Payment' product is one of them. With an amount limit of no less than RMB 50 thousand and a term of five years, this product allows monthly interest payment and 'scheduled transfer'. The interest will be transferred to a client's designated bank card demand account each month. It was worth mentioning that 'Enjoyable Installment Interest Payment' adopts different interest rate, 'it means that the more money one deposits, the higher interest rate one will get, and that the interest rate can be locked while ensuring the fund safety of a client and the downward risk of the interest rate is prevented.' Liu Jianyu introduced.

Another product named 'Enjoyable Smart Fixed Deposit' also belongs to 'Enjoyable Deposit'. Its longest term is five years and it is characterized by unlimited advance withdrawals. This product has no scheduled term and interest rate. In the case of an advance withdrawal, the money withdrawn adopts the corresponding fixed interest rate based on the actual term and the rest continues the accumulation of term as usual. 'The term of a deposit is always a problem. If a client makes a one-year deposit, the interest rate is too low; if he makes a five-year one, he worries that if an advance withdrawal is made in emergency, the interest rate will be the same as that of a demand deposit, then there's less profit. 'Enjoyable Smart Fixed Deposit' features convenient withdrawal and flexible interest rate. And one can get the most fixed profit in the case of an advance withdrawal.' Liu Jianyu said.

It is reported that IB's 'Enjoyable Deposit' products are well received among clients. The sales volume has exceeded RMB 10 billion in less than three months since it was launched in November, 2016.