Rong Hui rural bank deposits are safe, and rural banks are formal banks, which have been officially approved by relevant administrative departments. Moreover, bank deposits in villages and towns enjoy the insurance payment system, with a maximum payment of 500,000 yuan, which can be safely deposited.
Village bank refers to a banking financial institution established in rural areas with the approval of China Banking Insurance Regulatory Commission and funded by domestic and foreign financial institutions, domestic non-financial institutions, corporate legal persons and domestic natural persons, which mainly provides financial services for local farmers, agriculture and rural economic development.