Chapter 1396: Interest Rates

However, he had at least taken out a 200,000 loan here; if there were no restrictions on withdrawals for VIP accounts, that would be fine.

The interest rate was secondary to him; it was just the icing on the cake.

As long as he could deposit it now and withdraw the entire sum at once to take home when he was ready to leave, that would be enough.

It still came back to the same point: there was no internet banking yet, so he worried the money might disappear, and being from out of town, he would have no recourse. He also worried they wouldn't let him withdraw it all at once.

An average person's salary was only a few dozen yuan, and a family's annual income was only a few hundred yuan, with expenses on top of that. Where would they get money to save in a bank? Very few people went to banks for deposits or withdrawals these days.

Only when relatives from out of town sent remittances would people go to the bank to withdraw money.

In his previous life, Ye Yaodong had been destitute and had never saved any money. When he was a sailor, he would collect his cash and take it home during breaks, and by then, he was already nearly an old man.

"I'll go check the annual interest rates; there's a chart. The rates differ depending on the duration of the deposit. Wait for me a moment," Shen Ming'e said before hurrying off to the office upstairs.

Ye Yaodong had no choice but to sit and wait, taking the opportunity to ponder whether he should deposit the money.

If they really opened a VIP account for him, he felt it would be acceptable.

It was safer than keeping the money on his person, hiding it here and there.

Compared to the risks of a bank, the risks posed by people were greater; one should never gamble on human nature.

He had only waited a short while when Shen Ming'e brought the chart down directly to him.

"Take a look for yourself. Everything is listed clearly. The interest rates aren't low either; they're higher than what I've seen at foreign banks."

Ye Yaodong looked carefully; the annual demand deposit rate was 2.88%...

"6.3% for three months!"

He was startled and glanced at Shen Ming'e.

"Yes, that's why I'm telling you to deposit it in the bank instead of exchanging it for 50-yuan notes. Isn't it unsafe to keep so much money on you? If you deposit it directly in the bank, you get interest. When you need it, just notify us a week in advance, and the relationship manager will inform the bank to have the money ready for you to withdraw on time."

Ye Yaodong could no longer hear what she was saying; he was staring at the list in his hand, reading down the items one by one.

Six months at 7.74%, one year at 10.08%, two years at 10.98%, three years at 11.88%, and five years at 13.68%!

"Holy crap..."

"What's wrong?"

"Nothing."

He widened his eyes and looked again. That was right; his eyes weren't playing tricks on him.

"The interest rate is this high!"

"Yes, that's why I'm advising you to deposit. We can also open a VIP account for you and assign you an exclusive relationship manager."

He took back what he had just said—who said the interest rate was secondary to him, just the icing on the cake!

Damn it, if he deposited 200,000 for a year, he would get an extra 20,000 in interest!

That was more profitable than collecting rent.

And since he had borrowed 200,000 from the bank, if he did nothing else and just deposited that 200,000, the interest over three years would be over 70,000?

Holy crap! He hadn't borrowed enough!

Wasn't this a massive profit?

He had originally thought that if he had too much cash on hand, he would just pay off the loan early to avoid the insecurity and the risk of losing everything.

Damn it, who would want to pay it back now? Of course, he would leave it there to earn interest!

The interest rate was actually this high; a five-year fixed deposit was over 13%!

"Do you have a calculator? Help me calculate how much 200,000 would be after five years."

"One year is..., five years is..."

Ye Yaodong was shocked!

Depositing for five years would recoup more than half of his principal!

Nearly 70%!

How did he not know in his previous life that interest rates were this high back then!

He knew they were high, but he didn't know they were *this* high!

Collecting rent couldn't bring in that much, and while buying houses and land would be a windfall later, it wasn't this explosive within a few years.

Right now, this savings deposit was simply the best investment!

Deposit it in 1987 and withdraw it in 1992—just in time to buy land!

Ye Yaodong slapped his thigh hard. "Oh my god."

Shen Ming'e was a bit bewildered by his actions. "What are you doing?"

"I came too late!"

"Hehe, just like I said, deposit it directly. How long do you want to deposit it for?"

"You're sure I can withdraw it, right?"

"Rest assured about that. We are such a large, formal state-owned bank; we're much more reliable than a credit union. You get a passbook and a deposit slip for your savings, so what are you afraid of?"

"Who is my relationship manager?"

"Me!"

"Fine. If you don't let me withdraw it in five years, I'll have to bring hundreds of workers to storm your house and take you as collateral."

Shen Ming'e looked at him, speechless. "Rest assured."

Ye Yaodong was truly tempted by the 13.68% annual interest rate for a five-year fixed deposit.

He currently had about 700,000 to 800,000 in cash at home.

That was what remained after investing in the canned fish factory; he had already invested 80,000 to 90,000 in that factory.

The cash at home was enough for now. He had been trying to find ways to spend it, but he couldn't spend that much, and if he really did, Lin Xiuqing would definitely be reluctant.

Since the bank had such high interest rates now, he thought he might as well just put the 200,000 into a fixed deposit.

Otherwise, it would just be sitting there, just like the money at home.

He had borrowed 200,000 from this state-owned bank, so he would treat this as a gesture of trust.

"For a 200,000 three-year fixed deposit, how much is it per year, and for a five-year fixed deposit, how much is it per year?"

"For a three-year fixed deposit, it's... per year, and... for three years. For a five-year fixed deposit, it's... per year. After five years, besides the 200,000 principal, you can also get..., a difference of... over two years."

"A difference of that much!"

He took the calculator and calculated it back and forth again.

After thinking about it, he decided five years was more cost-effective; he still had a huge pile of cash at home anyway.

He had earned 200,000 in just over a month, and he could probably earn another 100,000-plus this month. By the time he went home, he would have accumulated another large sum to take back.

It was better to deposit the money he had on hand now; it was safer.

The key was that this interest rate was too tempting!

If he deposited it for five years, the interest alone would be 70% of the principal.

He couldn't possibly spend all the money at home, and A-Qing definitely wouldn't agree to it.

He would treat this money as a rainy-day fund.

Given his current earning efficiency, it wasn't a huge amount—he could earn it in a month—but in a critical moment, this money could save his life or help him make a comeback.

A wily rabbit has three burrows.

Then, after the factory's boats were delivered in a few months, he would accumulate another sum, which he would then use to order a 40-meter large vessel.

This way, he wouldn't always have too much cash on him; at least the money he earned in these few months would all be accounted for.

Shen Ming'e advised him again, "I suggest you just deposit it for five years. These interest rates are always changing; now that we have this rate, who knows if we'll have it later."

That was true!

Only now did they have these rates; in a few years, while they wouldn't be cut in half, they would definitely fall.

It wouldn't be until the new millennium that they would collapse and see continuous rate cuts.

She added, "With so much money, it's very cost-effective to deposit it. Otherwise, carrying so much money on you is definitely not safe."

"For ordinary folks, this interest might not be much, because they only deposit one or two hundred, earning a few extra yuan at the end of the year."

"But you're different. You're a big boss with large capital inflows and outflows. If you have some spare cash, you might as well deposit it to earn interest as a rainy-day fund."

Ye Yaodong said, "You were right to work at the bank. With a tongue as sharp as yours, no wonder you've become a relationship manager."

"Nonsense, it's clearly because I know a lot of people and have pulled them all in as clients."

"I'm depositing so much at once; not many people can do that, right? Are there any other benefits or perks?"

"We have gifts of rice, flour, and oil. If you deposit 200,000 at once for five years, I'll apply to give you a bit more."

"Fine. Then I'll bring the money over to deposit this afternoon. You help me handle the business, and I'll bring people over to move the rice, flour, and oil."

"Okay."

"By the way, for a five-year deposit, is the interest credited annually, or is it all paid out at the end of the five years?"

"It's settled every three months. You can bring your passbook to check, and we'll calculate it for you. But you don't have to come check; it will be calculated regardless. You just can't withdraw it until it matures."

"Understood."

"Then remember to bring it over this afternoon to process."

"Will do."

Ye Yaodong had brought 10,000 over and taken 10,000 back, still feeling quite happy.

Hiding the money in the mattress last night had been a waste of effort. After returning, he pulled the mat aside again and dug out all the money he had hidden in the mattress.

He specifically took a sack, put some straw inside, and then tossed the 200,000 yuan in.

Aside from this 200,000, he only had about a thousand left on him; yesterday, when the boats went out to sea, he had spent about seven or eight thousand on fuel and ice.

But it didn't matter; he felt light without money. Tomorrow, he would have people take the boats to collect the goods, and once the goods were back, he would have money again.

This boatload of goods had long been pre-ordered.

After getting the money sorted, he tied it up with hemp rope and stacked it with the dried fish before going out for lunch.

After tossing and turning all morning, it was time to eat.

The workers saw him rush out in the morning, and as soon as he returned, he locked himself in the room. When they greeted him, he only nodded and didn't stop his pace.

"Dong-ge? Why are you rushing in and out?"

"Taking care of business. In a while, five or six of you come out with me."

"Okay. What are we doing? Buying groceries?"

"Moving grain."

"Oh, okay. With so many of us, grain consumption is indeed very fast."

"In a while, go cut two jin of fatty meat. We'll have taro rice for dinner tonight. We also have kidney beans; mixing them in will save some grain."

"Great, great, that rice is delicious."

"Tomorrow, buy a pig's head bone; we'll stew taro tomorrow night."

"Okay."

Pig head bone was the cheapest bone, but it had meat on it. One could boil a huge pot, enough for all of them to eat, and the bone broth was fragrant.

When he came up, they had already dug up several sacks of potatoes and taro at home and moved them all up. There was also a pile of winter melon, pumpkin, cabbage, red beans, soybeans, mung beans, and pickled vegetables. Now, when they went out, they only needed to buy meat.

He estimated that when they went back at the end of the month, they could dig up several more sacks of radishes and sweet potatoes to bring up.

After the workers finished eating, six of them followed him out to move grain, while the rest helped build houses at the construction site.

Everyone had assumed they were going to the grain station to move it, but to their surprise, why were they going to the bank?

Standing at the entrance, looking up at the sign, everyone was a bit bewildered.

"Dong-ge? Did we go to the wrong place?"

"We didn't go to the wrong place. You guys wait here first," Ye Yaodong said before going in.

The others stood at the entrance, looking at each other, before suddenly realizing.

"I get it. Dong-ge is here to withdraw money, and then we'll go to the grain station to buy grain."

"I was wondering why we came to the bank..."

"Then let's just wait here..."

Ye Yaodong stayed inside for nearly an hour before finishing the business and coming out.

The sack he had been carrying had turned into a passbook with a string of zeros on it, and his mood was somewhat complicated.

It was still more satisfying and refreshing to have a big pile of money in his hand; suddenly, he felt empty inside.

Such a large sum of money had suddenly disappeared, turning into a few numbers, and he couldn't help but feel a sense of loss.

He felt a faint regret; he couldn't withdraw it for five years, only come by every few months to check on the interest growth.

Feeling that the money was gone, he felt a bit melancholy.

"Dong-ge is out..."

"Dong-ge finished withdrawing the money. Why did it take so long?"

Ye Yaodong put the passbook in his pocket. "Come in and move the grain."

"Come in and move it?"

"Adong?"

"The bank gave me a batch of rice, flour, and oil. Come in and move it."

Everyone was surprised. The bank gave it?

But seeing that he didn't look like he was joking, they followed him in suspiciously, only to see a pile of rice, flour, and oil already stacked in the open space in the middle.

"Is this it?"

"Wow, so much. The bank actually took the initiative to give us rice, flour, and oil?"

"What 'us'? It was given to Adong!"

"What Adong? Outside, you have to call him Dong-ge! Or Boss!"

"Hahaha, it's not a holiday or festival, and even the bank is giving Dong-ge so much stuff. What has Dong-ge done?"

"That bank girl from last year is there; it must be her who took the initiative to give it to Dong-ge!"

"Could it be that she sees Dong-ge has money and is good-looking..."

"And wants to be our little sister-in-law..."

Ye Yaodong watched them chattering away in their dialect, one sentence after another, and kicked the nearest one directly.

"What are you babbling about? Move it quickly."

"Is all of this it?"

"Yes, move it all back."

"Got it."

Ye Yaodong looked at Shen Ming'e again. "Thank you, Comrade Shen Ming'e. I'll have people move these things back first. I'll definitely come by every few months to check the interest, so I'll have to trouble you."

"No problem, it's no trouble. I'm always here anyway. If you come by every few days, I'll actually feel more at ease."

"Afraid I'll run away and not pay back the loan, right? That's why you kept advising me to deposit a fixed term, so I can't run away."

"Hahaha, you figured that out."

"As long as the deposit is reliable, that's fine. I definitely won't let my life have any stains."

Shen Ming'e gave him a thumbs up.

"I'm leaving now. Goodbye."

"Goodbye. Come back when you're free."

Ye Yaodong led the group out. His sack was also filled with several bottles of rapeseed oil, which he casually slung over his shoulder.

None of the seven people were empty-handed; some carried two or three bags of flour, some carried rice, some carried coarse grains. Everyone's shoulders were full, and as soon as they walked out, they were covered in sweat.

"Dong-ge, did that bank girl fall for you?"

"What nonsense are you talking about? I have a wife and children. That comrade is a highly educated talent; don't talk nonsense."

"Hehe, I thought she fell for you and gave you so much grain."

"That's not it. I went to the bank to process a deposit, and the bank gave it as a gift."

"No wonder..."

"Don't talk nonsense when you get back, and don't guess blindly."

"Understood."

He hadn't even discussed depositing the 200,000 in the bank with A-Qing yet, but it wasn't a big problem.

When he accumulated more this month, he could save another sum to take back, and then he would tell her about the annual interest rate; it could truly be considered a massive profit.

Anyway, the money on hand was just sitting there, and he had too much cash; he couldn't bear to spend that much, so he would take a portion and deposit it to earn interest.

This amount was also something he could afford right now.

After moving the grain home, Ye Yaodong got on his bicycle and headed toward the Chamber of Commerce.

Now that he was staying on shore to collect goods, he had plenty of time to spend at the Chamber of Commerce every day.

In the scorching summer, he could play cards, eat watermelon, and drink tea with everyone during the day.

When the sun went down, he would go to the pier to collect goods and get busy delivering them.

When the fishmongers and bosses at the Chamber of Commerce heard he didn't need to go out to sea to collect goods, they all agreed. That's how it should be; workers were hired to do the work, not for him to do it with them.

Today happened to be a Friday meeting. Those who were free would come, while those who weren't were at sea or busy out of town.

Now, the people inside were all familiar faces to him. He had spent his free time at the Chamber of Commerce for the past month or two, so he hadn't been wasting his time.

Today, he happened to run into Li Shouquan, the leader of the shrimp-skin fishing fleet from last year. He had made a lot of money collecting shrimp skin from them last year.

Seeing him, he hurriedly went up to greet him.

The other party was also very enthusiastic to see him and wanted to put an arm around his shoulder, but he was a bit short and couldn't reach, so he just patted Ye Yaodong's back.

After catching up a little, Ye Yaodong learned that they had arrived early last month, but as soon as they arrived, they went out to sea to fish and hadn't had time to come here.

And he had been so busy in the first half of the month that he hadn't run into them.

Since the middle of last month, he had been busy with building houses and hadn't had time to keep running over, so they hadn't met.

Asking casually, he learned that they had also set up a boat, converted it into a fresh-catch collection boat, specifically to collect goods from the village they had brought out.

Ye Yaodong couldn't help but give him a thumbs up. "Not bad. Keeping the fat water within the family."

"Hehe, I want to earn money however I can. I'm sorry, brother, but I can't collect your goods this year."

"Don't say that. What's there to be sorry about? Those are your own villagers. It's normal for you to set up a boat to collect them yourselves. If there's money to be made, of course you should earn it first. There's nothing to talk about."

"Hehe, I didn't think too much about it. That's good then."

"That won't happen. Even if you wanted me to collect them, I couldn't this year. I have several more boats docking on my side, and now the collection boat has to go out to sea every day to collect a boatload, so I'm simply too busy."

"I saw you here and thought you were free."

"I've left it all to the workers. I just collect the goods on shore and send them everywhere."

"That saves a lot of trouble."

An acquaintance on the side interjected, "Boss Ye is amazing now. He has three or four hundred boat workers on hand, and he has fifty or sixty fishing boats on his side. He can't even collect all the goods from his own people."

"You haven't earned less, right, President Ye?"

"The expenses are also high. Settling so many people is a problem. I've started building houses again..."

"You just built 15 buildings, and you're starting to build again?"

"There are too many people; there's not enough room. In a while, the factory will have five large ships to deliver, and I'll have to hire another batch of workers..."

"Wow~"

Ye Yaodong told the truth and bragged a bit, listening to everyone clicking their tongues and exclaiming in surprise.

People are like this; when things are flourishing, they like to join in the fun, and everyone likes to carry the sedan chair.

Some people who weren't very familiar with him, after hearing them brag, also started to flatter him, making him the center of attention.

Some fishmongers also started to prioritize him when ordering goods, and old acquaintances also increased their orders.

When you have money, everyone around you is truly a good person.

There were even bosses who said they would treat him to a massage after the meeting.

"Doesn't Old Li's lover open a massage parlor? Let's go to hers..."

"No, no. I have to go out to sea tomorrow. You guys go..."

"Lying again. Didn't you just say the goods at sea are left to the workers? You just receive the goods?"

"Ahahaha, hahahaha..." Ye Yaodong laughed awkwardly.

"It won't delay anything. Go play, relax. Let's eat together later..."

"Exactly... going to play is nothing..."

One boss after another sat next to him, chatting with him. Ye Yaodong found it hard to refuse their enthusiasm.

Their meetings now were just to set a time for everyone to communicate; there wasn't really anything substantial to talk about, at most announcing a few new members and introducing them so everyone could get to know each other better.

Now there were people from all walks of life, all here to make money. As long as there were people, there would be consumption, and all kinds of supporting things would gradually emerge.

After the meeting, Ye Yaodong went to eat with several bosses he was familiar with and had business dealings with. He took the opportunity to pay the bill, and everyone became even more enthusiastic, pulling him to go to the massage parlor and not letting him leave.

Several people surrounded him, not letting him go, pulling him to the massage parlor.

He had no choice but to go along with it and enjoy it for a bit, but as soon as the time was up, he left immediately.

However, they still pulled him, asking him to continue and not to leave in such a hurry, and even asked the girl to keep him.

Ye Yaodong's head was spinning. He hurriedly declined, saying he had to go back before 8 o'clock, and he had to abide by the rules he had set himself.

He backed out while talking, promising to deliver the goods to them on time tomorrow night, and then slipped away.

After leaving, he couldn't help but wipe away sweat. He had almost lost his chastity. These old foxes really knew how to enjoy themselves after making money.

Ye Yaodong twisted his neck and got on his bicycle, feeling light.

It had to be said, getting a massage was actually quite comfortable. For the past month, he had been so busy that he hadn't stopped, busy from the moment he opened his eyes until he closed them. He was only happiest when counting money.

But they had a few too many ways to be happy, damn it.

The money these people earned definitely couldn't be taken home; they had to squander it outside, and they even spent money to open shops for their lovers...

He had to guard his pockets!

When the workers in the factory saw him return, and he passed by them smelling fragrant, everyone winked at each other.

"What's with that expression? I went to talk business, a normal social engagement."

"Understood, just putting on a show..."

"We definitely won't say anything..."

Ye Yaodong glanced at them, giving them a look to interpret for themselves. ===== CHAPTER 1397 =====