Xiangyun Duoduo is a product being sold by Yingkou Coastal Bank. According to the information released by the product, the interest rate of Xiangyun Duoduo is as high as 5.4%. So is the Xiangyun blossoming in Yingkou Coast Bank safe? How to calculate the expected income? Let's take a look together.

1. Is the Xiangyun blossoming in Yingkou Coast Bank safe?

1, bank nature

Yingkou Coastal Bank is a joint-stock city commercial bank approved by China Banking Regulatory Commission. Although city commercial banks are small and medium-sized banks, their strength and popularity are not as good as those of state-owned banks and joint-stock banks, but they are still regular banks in China.

2. Product nature

Xiangyun Duoduo is a savings deposit product of Yingkou Coastal Bank. Its products are similar in nature to bank time deposits. The initial deposit amount is 50 yuan, the deposit period is fixed, and the deposit interest is calculated at the agreed interest rate.

Different from time deposits, Xiangyun's early withdrawal bears interest according to the method of relying on files, while regular early withdrawal generally bears interest according to the current interest rate.

Therefore, from the nature of products, as a standard deposit product of banks, the principal and interest of deposits within 500,000 yuan can be paid in full in accordance with the provisions of the Deposit Insurance Regulations.

Second, how to calculate the expected income of Xiangyun blossoming?

The maximum deposit interest rate of Xiangyun blossoming reaches 5.4%, but the premise is that the deposit period must be more than 5 years. For example, if an investor deposits 10000 yuan and withdraws it five years later, the deposit interest is about 10000*5.4%*5=27000 yuan.

If the deposit term is less than 5 years, the interest shall be calculated according to the interest rate of the corresponding grade. For example, an investor deposited 654.38+00,000 yuan on February 3, 2065.438+09, and withdrew it on March 9, 2020. The deposit interest rate is calculated at 4.3%, and the deposit interest is about 654.38+065.438+05.86 yuan.

The above contents about the safety of Xiangyun blossoming in Yingkou Coast Bank hope to help you. Warm reminder, financial management is risky and investment needs to be cautious.