Therefore, many people buy financial products in the eyes of banks! There are also pitfalls in buying bank financial products! There are 10 holes that you must know when you purchase bank financial products. Today, I’d like to give you a systematic review:
1. Bank financial products may lose money
In recent years, the market of bank financial products is very hot. Firstly, the yield is much higher than that of fixed deposit, and secondly, the trust of investors in banks. It is estimated that many small partners have the same impression on bank financial products: extremely low risk and higher yield than fixed deposit. Generally speaking, this impression is not wrong, but it is not always the case. In the past two years, the “zero income gate” and “negative income gate” events of bank financial products in several banks are the best warning. Partners should understand:
The steady earning of financial products is just a legend. When some financial products mature, they may not get the expected income, and some even do not guarantee the principal.
2. When buying bank financial products, we should pay attention to the collection period and liquidation period, which will “dilute” the financial income
Generally speaking, the bank will claim that the bank’s financial products do not enjoy the income during the fund raising period and the liquidation period, and the interest is calculated or not calculated according to the current deposit interest. If we buy earlier, and that product has a longer raise and liquidation period, then our real yield will be pulled down. For example, a one month term financial product with an expected yield of 5.5% will be sold from September 26 to October 7, and the interest will be calculated from October 8. After 30 days of maturity, there will be a 10 day liquidation period. That is to say, the gap period of this product is 22 days. The gap period of more than 20 days can not “dilute” the actual financial income of the buyer.
3. The expected income is not equal to the actual income
Now many banks have begun to introduce “attractive” financial products, such as the interface display, the expected yield of 6%. Well, at first glance, 6% is very high. However, please pay attention to the word “expectation”. Not all financial products can achieve their promised yield, because the expected yield is not equal to the actual maturity yield. Class reminder:
Don’t focus on the bank’s yield. “Expectation” is not the same as the final revenue we get. Sometimes the actual income is not as much as the propaganda said.
4. The rating of bank financial products is not reliable
In the bank financial product manual, we can often see the relevant risk rating. For example, a product of ZX bank is shown in the instruction manual as PR2 (robust, yellow). In fact, they are all evaluated by the banks themselves, not by third-party institutions, which is not of great significance.
5. When buying bank financial products, risk tips must be clearly seen!
If you have a heart, you can take a look at the brochures of financial products issued by many banks. You will find that although many instructions are as long as more than ten pages, they reveal little about the essential risks of the products. Most of them are marketing language rather than objective in-depth analysis. Those risks are too professional or even all kinds of professional terms, which are difficult for ordinary people to fully understand.
6. We should pay attention to the investment direction of products
To buy bank financial products, we always need to know how to make money and how to make profits. The investment of financial products is directly related to the risk of products.
If the funds of a product are invested in bond repurchase, deposits, treasury bonds, financial bonds and central bank bills, the risk of such financial products will be low;
If the funds of the products are invested in stocks and funds, the risk of such financial products is high, and even the risk of loss.
7. Look at the bank financial product manual whether there are overlord terms, such products as far as possible do not touch
For example, in some product brochures, it is stipulated that “the highest part exceeding the expected annualized rate of return will be regarded as the bank’s investment management expenses”.
8. To see whether the products are sold by the bank spontaneously or on a commission basis
In the bank channel, most of the bank financial products are spontaneous, but there are also banks as agents to sell other financial products. Generally, the instructions of such bank financial products clearly state that “the bank acts as the agent of investors
This kind of statement is that the bank only admits that it is an agency and entrustment relationship. If something goes wrong, the bank will not be responsible for it.
9. Super high returns are generally fictitious
Generally, the most attractive thing is the yield. High yield is a great temptation to anyone who believes in it. However, there are more floating income products with partial or non breakeven in bank financial management, which are strictly restricted by trigger conditions. If the income is obviously higher than the average level of the market, most of them are marketing gimmicks.
10. Be careful with hidden costs
Some of the bank’s financial product brochures are written in this way, and the formula for calculating the expected rate of return of financial products is “the expected rate of return on investment of financial management plan – fees for sales of financial products, custody fees, etc.”. Do you see the word “wait”? One more word, one less word, sometimes it’s a big hole.
If you can figure out the above problems when you buy bank financial products, you can almost avoid the pitfalls of bank financial products.