Announcement on Adjustment of Principles Governing Interest Settlement and Accruement of Deposits and Loans in RMB

China Construction Bank CorporationAnnouncement Sep. 19, 2005

 

In accordance with the regulations stipulated by Notice of People’s Bank of China on Interest Settlement and Accruement of Deposits and Loans in RMB No. 129 (2005), China Construction Bank Corporation (CCB) will adjust parts of the principles governing interest settlement and accruement of deposits and loans in RMB on Sep. 21, 2005. The adjustments will be as follows:

1. Interest on personal demand deposit is settled quarterly in lieu of annually, and it is settled on the 20th of the last month of the quarter. It is paid at the rate published on the date of interest settlement, even though the rate may have changed between the date of depositing and that of interest settlement. If the account is settled before the date of settlement, the interest shall be paid to the day just before its settlement and calculated according to the demand deposit rate published on the date of interest settlement on the settling day. The nearest day of settlement from the date of announcement is December 20,2005. On December 21 of 2005, CCB will pay personal demand deposit interest from July 1 to December 20 of 2005, and the rate will be the demand interest rate published on the date of settlement.

2. Interest on the corporate demand deposit is accrued daily and settled quarterly and the rate may have changed between the date of depositing and that of interest settlement. And it is settled on the 20th of the last month of the quarter.

3. We offer 2-year, 3-year, and 5-year term deposit to corporate customers, and the interest accrues according to personal term deposit at the same time. If the organization wants to withdraw the deposit in advance or after maturity, the interest will be paid according to Measures Governing Corporate Deposit in RMB No. 485 (1997).

4. The interest of notification deposits, deposits by agreement, flexible conversion between demand and term deposits, maintaining the principal and withdrawing interest, depositing at intervals and withdrawing as a lump sum, depositing as a lump sum and withdrawing at intervals, and other deposits shall be settled according to the current regulations and rules.

5. The interest of loans in RMB shall be settled according to the current regulations and rules.

6. Interest on personal and corporate demand deposit and depositing and withdrawing both as a lump sum shall be paid according to the relevant regulations and rules stipulated by Notice of People’s Bank of China on Interest Settlement and Accruement of Deposits and Loans in RMB No. 129 (2005) .

If you have any question over the above matters, please enquire CCB’s outlets.