Yu'ebao's return rate keeps dropping. Yubao screenshot
Chinanews.com client Beijing, June 3 (Reporter Wu Tao) In recent months, Yu'ebao's yield has been declining. On June 1, its 7-year annualized rate of return was as low as 1.513%, which was 0.2 percentage points lower than the bank's one-year RMB deposit benchmark interest rate (1.75%).
Yu'ebao's yield is not only lower than the bank's fixed deposit interest rate, but also lower than some similar "babies". On the same day, WeChat Change Money's "China Fortune Treasure Currency A" had an annualized rate of return of 1.713% on the 7th, which was 0.2 percentage points higher than that of Yu'ebao.
Some analysts said that the continued decline in the yield of Yu'ebao may have something to do with the decline in bank deposit receipts. The asset allocation of Tianhong Yuebao Fund shows that bank deposits account for 51.84%.
The carding shows that in May, the newly issued 1-year personal large deposit certificate interest rate differs among the major banks, with a payment behavior of 2.28%, an agricultural behavior of 2.25%, a construction behavior of 2.175%, and a Zheshang Bank of 2.18%. But this is much higher than Yu'ebao.
Will the continued decline in the yield of Yu'ebao cause loss of users? Although there is no inevitable link between the two, according to the report of the Central Bank, household deposits increased by 6.47 trillion yuan in the first quarter, an increase of 401.2 billion yuan year-on-year. On average, more than 70 billion yuan of deposits flocked to banks every day. This shows that more and more people tend to put money in banks or seek higher returns.
Recently, on Weibo, many netizens said, "Yuyuebao's interest is really too low to want to watch." A user told reporters from China News that "Yuyuebao's profit rate is too low. The money has been transferred to the bank, leaving only a few thousand dollars in pocket money."
Yu'ebao's "gold-absorbing" ability has been declining year after year. Image source: Tianhong Yuebao Money Market Fund 2019 Annual Report
The data shows that Yu'ebao's ability to "grow gold" has declined year after year. According to the 2019 annual report of Tianhong Yu'ebao Money Market Fund, as of the end of 2019, its net asset value was 1.09 trillion yuan, at the end of 2018 it was 1.13 trillion yuan, and at the end of 2017 this figure was 1.57 trillion yuan.
Interestingly, the same product as Ant Financial, unlike Yu'ebao, has a daily interest rate of 0.05%, which is not high at first glance, but the annual interest rate is as high as 18% when converted.
That is to say, if you have 10,000 yuan, put the balance of treasure, the income will be almost 150 yuan a year; but if it is still 10,000 yuan, you have to spend more than one year overdue, sorry, more than 1800 yuan interest. (Finish)