Pulling out my Diamond Time Deposit from Chinabank
It’s final. I’m pulling out all the money from my Diamond Time Deposit account in Chinabank. Effective Jan. 28, 2009, Chinabank has lowered its interest rates for the fourth time this month.
Chinabank cut the interest rates by 0.5% since Jan. 20, 2009 (see related story). This is lower than the interest rate I got when I first opened a Diamond Time Deposit one year ago. Back then, I got a 3.75% interest but a year after, the interest is now at 3.5%.
So come Monday, I’ll be paying a visit to Chinabank and will pull out all my money. I basically have two options on where to move it: 1) First Country Financial Bank and 2) my company’s employee savings plan.
For your information: here is the updated interest rate table for the regular time deposit and Diamond Savings:
Regular Time Deposit
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