广州农村商业银行股份有限公司-Savings Bonds

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Savings Bonds

发布时间:2021-12-06

Savings bonds are non-negotiable RMB bonds issued by the Ministry of Finance within the territory of the People’s Republic of China and sold to individuals through members of the underwriting syndicate of savings bonds. At present, savings bonds in China are divided into savings bonds (electronic) and savings bonds (voucher).

Product characteristics

1. High security

Savings bonds are issued by the Ministry of Finance on behalf of the central government and its credit rating is higher than other bonds after repaying capital with interest.

2. Stable earnings and free-tax interests

Savings bonds are issued in a fixed-rate way and the rate is higher than bank saving deposit interest rate during the same period. The interest income is exempted from individual income tax.

3. Low subscription point, multiple issuances and convenient business handling

Savings bonds are sold at the least amount of RMB100 and multiples of RMB100. During the issuance period in March-November, clients can subscribe to the saving bonds in bank branches and online banking (official launch to be notified later) of our bank.

4. Flexible realization

Clients can redeem their savings bonds before the data due according to relevant provisions to obtain corresponding funds. When the clients holding savings bonds want a loan, they can take the savings bonds as a mortgage to apply for pledge loans at our bank.

Service channel

This service can be handled through bank branches and online banking (official launch to be notified later).

Product information

Savings bonds are divided into savings bonds (electronic) and savings bonds (voucher) with an offering period of three years or five years. See the detailed difference between the two types in the table below.

	Savings bonds (Electronic)	Savings bonds (Voucher)
Similarity	Both can be purchased at the counter under the individual real-name system or can be handled for others under the regulations. In the same environment, such two savings bonds with the same maturity have the same annual interest rate at maturity based on national credit and the interest exempted from income tax. Besides, the two products are non-negotiable, but they can be redeemed in advance or used a proof of property for pledged loans, etc. In case of early redemption, the bank can charge investors an early redemption handling fee. The starting point for subscriptions is RMB100.
Difference	Transactions by transfer using a designated settlement account	Transaction by transfer using a settlement account, rather than a specified account
	Record by electronic accounting Two-level trusteeship system by telephone review and inquiry	Record by “Receipt Voucher of Savings Bonds (Voucher) of the People’s Republic of China”
	Value date on the first day of the offering	Value date on the date of purchase
	Pay the interest every year and pay the interest of the last year and repay the capital at maturity	Repay capital with interest in one lump sum at maturity
	The capital and interest are automatically transferred into the investor’s capital account on time without going to the counter for handling	Hold the Receipt Voucher of Savings Bonds (Voucher) at the counter for redemption at maturity
	Available in some online banking	Unavailable in online banking

Tips

1. Service objects

Suitable for clients with a propensity of regular saving and experience in investment and finance.

2. Business tips

(1) Savings bonds (electronic)

Clients are required to open savings bonds trusteeship and bind the bank card (or current passbook) of Guangzhou Rural Commercial Bank. Clients receive interest every year. The bank will repay the capital and last year’s interest at maturity. The interest and capital are automatically transferred to the client’s account, and the client does not need to pick it up in the bank in person.

If clients need capital for a turnover, they can apply for partial or full early redemption of savings bonds (electronic), or apply for savings bond pledge loans at Guangzhou Rural Commercial Bank.

(2) Savings bonds (voucher)

Clients can handle savings bonds (voucher) business at bank branches if with personal settlement accounts of Guangzhou Rural Commercial Bank. The capital and interest will be repaid in one lump sum at maturity. If clients need capital for a turnover during the holding period, they can handle early redemption or pledge loan business. After maturity, clients can apply for redemption with the receipt voucher at bank branches.

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Savings Bonds