为何不建议存“大额存单”？看完这四点理由再决定也不迟

Core Viewpoint - The article discusses the allure and hidden risks of large-denomination certificates of deposit (CDs) in China, highlighting the significant growth in their balance and the potential pitfalls for investors [3][5]. Summary by Sections Liquidity Risk - Large-denomination CDs have a liquidity risk that many investors overlook, with high penalties for early withdrawal. For instance, early withdrawal can reduce a 3.85% annual yield to as low as 0.3% [3][5]. In 2024, 32% of large-denomination CDs were withdrawn early due to cash flow issues, resulting in an average loss of 8,500 yuan per investor [3]. Interest Rate Risk - High interest rates on large-denomination CDs often reflect banks' pressure to attract deposits. A report indicated that a city commercial bank offered an average rate of 4.2%, while its non-performing loan rate rose to 1.78%, indicating potential risks in fulfilling high-interest commitments [5][9]. Inflation Risk - Inflation significantly impacts the real returns on large-denomination CDs. With the Consumer Price Index (CPI) rising from 2.8% in 2024 to 3.2% in early 2025, the actual yield on three-year CDs, which range from 3.6% to 4.0%, is only 0.6% to 1.0% after accounting for inflation [5][6]. Asset Allocation Risk - Concentrating funds in large-denomination CDs contradicts basic asset allocation principles. The annualized return of the A-share market index was 12.7%, significantly higher than the returns from large-denomination CDs, which suggests a lack of portfolio flexibility [6][14]. Credit Risk - Large-denomination CDs carry credit risk, as the deposit insurance system only covers up to 500,000 yuan per depositor per bank. In 2024, 28% of investors in a failing local bank had funds exceeding this limit, facing potential losses [9][10]. Interest Rate Change Risk - The fixed income nature of large-denomination CDs limits investors' ability to benefit from rising interest rates. Data shows that investors who purchased three-year CDs in 2024 lost approximately 0.8% in potential returns by 2025 due to rate increases [10][12]. Diversified Investment Strategy - A diversified investment strategy is recommended, with emergency funds in liquid accounts, mid-term funds in bond funds, and long-term investments in equities. A survey indicated that a balanced asset allocation model achieved an annual return of 8.2% with reasonable risk levels [14][15]. Conclusion - The article concludes that while large-denomination CDs may seem attractive, their associated risks necessitate a careful evaluation of personal financial goals and risk tolerance, advocating for rational investment and risk diversification [15].