How foreign currency deposit most cost-effective? This is a lot of people want to know, although the exchange rate risk, but compared with the RMB, foreign currency deposit interest rate is floating. This is for those who need to hold a certain amount of foreign currency, the mastery of basic skills are very important.
Skills I: Follow Bank's latest promotions
Currently, according to the relevant provisions of the central bank's foreign currency deposit rates, banks for multi-currency fixed deposit interest rates have great discretion, the upper limit of the central bank in the regulations, banks are free to determine the short-term foreign currency time deposits and 2 year Small interest rate of foreign currency deposits.For the needs of their own business development, different banks in the same currency savings interest rate disparity, many banks will launch various promotions from time to time. As in September 2011, the interest rate one-year deposits in Chinese banks, the Australian dollar interest rate of only 1.5%, while the money in foreign banks, will get four times as much income. HSBC launched a Australian one-year deposit interest rate of up to 7.4% of financial products, Standard Chartered Bank Australian one-year deposit interest rate as high as 6.7%, Hang Seng Bank, the Australian dollar one-month deposit interest rate was 6.5%.
Skills II: Stay current market dynamics
As foreign currency deposit rates are generally influenced by the international financial markets, the stability is poor, more frequent changes in interest rates and volatile ups and downs, so more need to pay close attention to depositors, timely adjustment must not be like after RMB savings deposit into the general sit back and relax ʱ??
Skills III: with cash, cash accounts
Currently foreign currency savings accounts in accordance with the nature of classification, foreign currency deposits can be divided into "cash account" and "cash accounts." General depositors receive remittance, it is best to direct deposit cash accounts, when you need cash, then how much to take, can not easily be "cash account" money into "cash account", because "cash account "Whether it is remitted abroad or exchange renminbi, line managers need to charge a fee for a certain amount, and the" cash account "generally do not charge less charge fees.
Four Skills: "double currency deposits" to avoid
"Dual currency deposits" is a personal foreign exchange trading derivative products, foreign exchange savings options structure contains a client based on the designated foreign exchange banks offer. Although the product allows the depositor to achieve higher than the average deposit interest income, but depositors should bear the due date of the implementation of the two sides agreed in advance the price of the original deposit currency is converted into risk-linked currencies, and therefore, its risk than the general Savings to be high, the average user should be avoided.
