Discounted deposits are illegal.
According to an insider of a state-owned bank, this kind of "bank deposit financing" actually belongs to "bank discount deposit", also called "deposit cashback", which means that depositors deposit money in the bank and the bank pays depositors a certain amount of cash in addition to the normal interest rate. However, the discount interest is forbidden by the People's Bank of China, and banks will never allow it. However, with the approaching of the important assessment time in loan-to-deposit ratio at the end of the year, some small and medium-sized banks have weak storage capacity and a large deposit gap. It is not excluded that these banks "buy" deposits privately at high interest rates. In addition, when some intermediaries see business opportunities, they will contact bank salesmen and subcontract these businesses regularly. After the customer deposits, the intermediary will return the commission to the customer. "This is usually a' private bill' taken away by the bank staff, and the bank itself may not know it."
It is more reliable to choose formal channels.
Some professionals pointed out that, in theory, although discounted deposits are as safe as bank deposits and have high returns, it is not guaranteed to give your personal information such as your ID card and deposit slip to strange intermediaries. There have been precedents for forging certificates of deposit to withdraw large deposits before, and some people have used other people's ID cards to apply for credit cards. Therefore, citizens must not neglect the safety of funds for the sake of high discount. Especially for customers with a large amount of funds, there are many financial channels and higher returns, so it is not necessary to adopt this financial management method. For example, the high-yield wealth management products issued by banks at the end of the year are worth choosing.
How does the discount deposit work? Is it legal? Discounted deposit refers to the interest paid to depositors according to the deposit amount in addition to the original bank interest. Discounted deposits belong to the gray area supervised by CBRC, which is the product of the development of market economy and generally has no risk to depositors.
The deposit process is the same as ordinary deposit. Usually, the deposit discount is paid to the customer by the intermediary. Generally, after the deposit, the settlement is faster.
Bank discount deposit refers to deposit in the bank through an intermediary, open your own account, and then deposit it in your own account. After saving money, prove the deposit to the intermediary and sign a deposit agreement with the intermediary to ensure that the funds will pay certain interest on the spot during this period (commonly known as discounted interest). Like ordinary bank deposits, it is usually risk-free, and the discount rate is: bank deposit yield = yield+deposit interest rate.