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  Home Page > Corporate Banking >Financial market >Products & Services >Investment products >Non-settlement Interbank Deposit
Non-settlement Interbank Deposit

I. Description
Domestic non-settlement interbank deposit refers to deposit of RMB or foreign currency fund for non-settlement purpose between ICBC and domestic financial institutions.
Non-settlement interbank deposit includes deposit due to and due from banks according to fund flows. The deposit due to banks refers to the deposit drawn by ICBC from customers, while the due from banks refers to the services through which ICBC provides funds to financial institutions which are qualified to attract deposit.
The longest period of interbank deposit shall not exceed one year while the shortest shall not be less than seven days. The deposits are all time deposits.
The interbank deposit adopts fixed interest rate and the standard for interest accrual shall be specified by both parties according to market practice. The interest period is the exact number of days for deposit. Technically, the interest is repaid on a quarterly basis or the principal and interest are repaid on due.

II. Target Customers
Deposit due to banks: financial institutions lawfully established in China.
Deposit due from banks: financial institutions which are lawfully established in China and are qualified to attract deposit.

III. Features and Advantages
i. Safe storage of funds. ICBC can guarantee the security of funds stored by virtue of its abundant funds, strict risk control system and strong solvency.
ii. Simple procedures. ICBC provides simple and highly-efficient services for customers.
iii. Flexible quotation. ICBC releases the interbank placement quotation on its official website, and negotiates the interbank placement price with customers according to market condition, placement amount and period.

IV. Qualification
Customers applying for non-settlement interbank deposit shall pass ICBC permission verification. Customers applying for deposit due from banks shall have sufficient ICBC credit extension.

V. Application Process
i. Service application
The customer shall apply for the service at an ICBC branch and pass the permission verification. Then the customer shall negotiate and set the amount, period, price and other details with ICBC.
ii. Opening account
The customer applying for deposit due to banks shall open interbank placement account at ICBC. As for the customer applying for due from banks, ICBC shall open due from banks account at its business institutions.
iii. Signing agreement. The customer applying for non-settlement interbank deposit shall sign Agreement on Non-settlement Interbank Deposit with ICBC technically.

VI. Service Channels
Customers can consult or apply for the service at ICBC branches which provide the service during business hours.

Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.