Contracted Deposit
A contract deposit denominated in RMB refers to a deposit denominated in RMB, in respect of which the depositor and CMB will, within the scope defined by relevant provisions of the People’s Bank of China, determine the deposit term and conclude an agreement for the contract deposit to confirm.
Business Introduction
- All enterprises, institutions, organs, groups, or other organizations in PRC meeting the conditions of account opening can apply for the contract deposit business.
- CMB, after going through review and approval, will conclude an agreement of contract deposit with the customer to agree on the deposit term, minimum deposit, interest rate, and methods for the settlement of interests.
- CMB will open a settlement account for the customer concluding the agreement of contract deposit and calculate interests on the interest settlement day as agreed in the agreement.