Do time deposits have passbooks and no certificates of deposit?

If a time deposit has a passbook, there will be no certificate of deposit. A deposit in which the bank and the depositor agree on the term and interest rate in advance at the time of deposit and withdraw the principal and interest after maturity. If depositors need funds before maturity, some certificates of deposit can be sold in the market; Some certificates of deposit cannot be transferred. If depositors choose to withdraw funds from the bank before maturity, they need to pay a certain fee to the bank.

For the unexpired time savings deposit, the depositor must hold the certificate of deposit and the identity certificate of the depositor in advance; If the withdrawal is made on behalf of the depositor, the payee must also hold his own identity certificate, and the interest rate shall be calculated and paid according to the current savings deposit interest rate announced on the date of withdrawal. The payee must also sign the name of the payee on the payment voucher.

Extended data

The term of a deposit in a bank can range from 3 months to 5 years, from 10 years. Generally speaking, the longer the deposit term, the higher the interest rate. Traditional time deposits include not only certificates of deposit, but also passbooks, also called passbook time deposits.

However, 90 days is the basic interest-bearing days, and no interest will be calculated after 90 days. Compared with demand deposits, time deposits are more stable and have lower operating costs, and the deposit reserve ratio held by commercial banks is correspondingly lower. Therefore, the capital utilization rate of time deposits is often higher than that of demand deposits.

Baidu encyclopedia-time deposit

I lost my time deposit certificate and the bank can't find it. What should I do? -:First of all, you should make sure that it is handled at the Agricultural Bank of China. If you are not sure, go to all possible banks you can think of. Then, you can recall the date and amount of your deposit certificate as much as possible. Let ABC check! There are three possibilities that the bank can't find. First, you really didn't do it. You misremembered the bank. Second, at that time, the bank staff made a mistake and may have entered the wrong ID number, but you didn't look carefully when you checked it (although this possibility is small, it is also possible); Third, your time deposit certificate was stolen by others and taken away for you in advance through certain means! Finally, if you really can't find it, there is no way.