From high-interest deposits to wealth management loops, banks launch a "red envelope money defense battle."

From high-interest deposits to wealth management loops, banks launch a "red envelope money defense battle."

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With the onset of the Lunar New Year, the "arena" of children's financial management reliably rings its battle drums within the banking sector.

Festive and abundant New Year's money is not only a symbol of Spring Festival celebrations; in the eyes of financial institutions, it is also a lever for retail finance to tap into household asset allocation.

Xin Feng has noticed that nowadays, banks are not just stopping at marketing hype—they are elevating it to a systematic operational model. This is especially evident in leading city commercial banks, joint-stock banks, and even state-owned banks.

Take Bank of Beijing as an example: its layout in the children's financial sector is quite representative, with its core vehicle being the exclusive "Little Jing Card" launched in 2022.

In recent Spring Festival promotions, Bank of Beijing introduced the "Little Jing New Year's Treasure," with a threshold starting at merely 1,000 yuan and a distinctly advantageous interest rate—three-year fixed deposit rate reaching 1.75%, significantly higher than the bank's normal deposit rates for the same term;

This approach aims to satisfy children's sense of exclusivity through physical cards, while using the mobile bank's "New Year's Money Ledger" to boost the activity of parents' apps.

Essentially, this is also, in the era of stock competition, utilizing precise customer operations to lock in high-quality future clients ahead of time.

Looking across the whole industry, this "high yield, low threshold" strategy for storing New Year's money has become a consensus:

For instance, Guangxi Beibu Gulf Bank launched "Dream Savings No.1," with a three-year rate as high as 1.9%, and a starting deposit of only 50 yuan;

Jilin Bank's "Little Ji Savings" offers a 1.8% rate with a threshold of 10,000 yuan.

Even among large banks, Industrial and Commercial Bank of China's "Parent-child Exclusive Account" sets a three-year rate at 1.55%, higher than the regular client's rate of 1.25% for the same term.

This targeted interest rate "red envelope" reflects banks' craving for low-cost, highly sticky liabilities.

Turning to China Merchants Bank, renowned for wealth management, its strategy focuses more on ecological integration and scenario penetration.

For example, CMB has opened a special "Little Gold Sunflower" zone in its mobile banking app, where financial services are cleverly embedded into family-interaction scenarios. Parents can create child's exclusive accounts, manage pocket money, and set up "wish lists."

At the end of this interaction chain, CMB's wealth management platform is picking up steam.

The system will, based on fund size and idle period, precisely recommend 51 types of financial products including deposits, wealth management, and insurance. For example, its distribution of exclusive "Little Gold Sunflower" fixed-income products has yielded a 2.84% annualized return since inception.

This closed loop of "scenario + account + product" enables CMB to efficiently convert the inflow of demand funds during Spring Festival into wealth management scale capable of generating intermediary business income.

From a broader industry perspective, this is also a very cost-effective "economic calculation."

In recent years, retail customer acquisition costs have soared, while "New Year's money" offers an extremely low-cost traffic entry point. With a minor's New Year's money account, banks often achieve "one brings two" or even "one brings four" acquisition effect—successfully binding parents' salary cards and even touching grandparents' pension cards.

All this releases one message: children's finance is no longer just a holiday marketing gimmick.

In the latter half of narrowing interest margins and pressure on growth, this family-tied, all-life-cycle operational account is gradually becoming a source of long-term dividends valued by banks.

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