China Savings Calculator CNY

Saving in China: the Basics

The workhorses of Chinese household saving are bank deposits: instant-access demand deposits (活期) paying very little, fixed-term deposits (定期) paying more in exchange for locking the money for three months to five years, and large-denomination certificates (大额存单) which start at ¥200,000 and pay a little more than the equivalent fixed term. Beyond deposits there are structured products, money market funds and wealth-management products, each with different risk, liquidity and rate mechanics.

One structural detail matters for this calculator: fixed-term deposits in China typically pay simple interest for the term — the interest is not itself reinvested inside the product. Compounding only happens if you roll the deposit over (redepositing principal plus interest), which is what this calculator's compounding-frequency option approximates. Choosing "Annually" models one roll-over a year conservatively; "Monthly" suits products that genuinely credit interest monthly, or frequent roll-overs of short terms. The rate itself is yours to enter — deposit rates change with policy and differ by bank and term, so the 2.00% in the box is marked as an illustrative example only, never a market rate.

Bank deposits in China are covered by the national deposit insurance scheme, which protects up to ¥500,000 per depositor per bank (principal plus interest) under the Deposit Insurance Regulations in force since 2015. Ordinary RMB deposit interest is also currently free of individual income tax — the tax on savings interest has been suspended since 9 October 2008 — so the calculator does not model a tax deduction on deposit interest. Other products may be taxed or structured differently.

What the Results Mean

• Future Value — the projected balance at the end of the period you chose, with contributions added at the end of each month.
• Total Contributions — your initial savings plus every monthly contribution: money you put in.
• Interest Earned — the part the bank pays you for the privilege of holding it.

Related China Calculators

• China Compound Interest Calculator — the same maths, explained for learning.
• China Mortgage Calculator — what the deposit you are building will do.
• China Loan Calculator — the other side of the coin.

Frequently Asked Questions

What interest rate should I enter?

The annual rate your actual account or deposit pays — check your bank's quoted rate for the exact term. The 2.00% in the box is an illustrative example only — NOT a current Chinese market rate.

Are bank deposits in China protected?

Yes, up to a limit: the national deposit insurance scheme covers ¥500,000 per depositor per bank (principal plus interest) under the Deposit Insurance Regulations of 2015. Amounts above that at a single bank are not covered by the scheme.

Is deposit interest taxed in China?

Individual income tax on ordinary RMB bank deposit interest has been suspended since 9 October 2008, so the calculator applies no tax to it. Other products — some wealth-management products, for instance — may be treated differently.

Why does compounding frequency matter if my deposit pays simple interest?

Simple interest inside one fixed term means the interest sits idle until the term ends. Rolling the deposit over effectively compounds it, which is what the frequency setting approximates. 'Annually' is a conservative roll-over estimate; monthly or daily suit products that credit interest more often.

Does the calculator assume I deposit at the start or end of the month?

The calculator uses an equivalent monthly rate to model the selected annual compounding frequency, and regular contributions are assumed to be added at the end of each month (an ordinary annuity) — the results card says so too. If you deposit at the start of the month, the true balance will be slightly higher than the projection.