If your children are in school (grade four in primary school or higher), and you wish to save some money for them to study abroad, to go to a university for Bachelor's or Master's degree, or other non-compulsory education; or if you yourself are in school (grade four in primary school or higher), and wish to save some money for yourself for your future non-compulsory education, you may choose "Educational Deposit".
Educational Deposit is a deposit service offered by CMB, through which, all residents save money for themselves or their children to receive non-compulsory education (e.g. education after the 9-year compulsory education, namely, senior high school, college, bachelor's degree, master's degree and/or PHD education).
Service Features
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Designated Account Name: accounts owners must be those attending compulsory education (grade four in primary school or higher); |
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Interest income is tax free; |
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Favorable interest rates: funds in the account enjoy favorable interest rates ( fixed time deposit rate for the same period) if the owner of the account can prove that he or she is receiving non-compulsory education; |
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Flexible term, easy accumulation: multi-deposit-one-withdrawal mode on a monthly installment basis; |
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Low beginning amount: a minimum monthly deposit of RMB50 yuan and maximum accumulated principal of RMB20,000 yuan; |
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Multiple terms alternatives: 1-year, 3-year, and 6-year.
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Service Channels
Channels for account opening: banking offices of China Merchants Bank, internet Banking (professional edition).
Channels for renewing deposit and account information inquiries: banking offices of China Merchants Bank, Call center (service phone No.:95555), Internet Banking.
How to Apply
Please carry your "All-in-one-card" card to any banking offices of China Merchants Bank to open an account for Educational Deposit or open the account through Internet Banking Service (professional edition).
User's Guide
1. Renewing deposit through Call center (service phone No.:95555, e.g. telephone banking).
2. Account opening and Renewing deposit through Internet Banking.
