The Education Savings scheme is designed for those whose children are currently in compulsory education, and are grade 4 or above at primary school and who need to save for their children’s study abroad, at colleges or universities, or other non-compulsory education in the future, or those who are studying at a school at grade 4 or above and need to save for their study abroad, at colleges or universities, or other non-compulsory education in the future.
Education savings allows people living in towns and villages to save for their or their children’s further, non-compulsory education costs.
1. Specific account: for students at grade 4 or above in primary schools;
2. Interest tax free;
3. Preferential interest rates: same as same-term lump-sum term deposits (requires a certificate of non-compulsory education);
4. Flexible term and payment: monthly fixed deposit;
5. Low threshold: minimum monthly deposit of CNY 50 with a principal limit totaling CNY20,000;
5. Various term options: 1 year, 3 years, and 6 years.
·Account opening: CMB branch, online banking profession edition
·Renewal and account inquiry: CMB branch, telephone banking, online banking
How to apply
You can apply to open an education savings account at any local CMB branch with your All-in-One card.
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.