24-year bank CD a huge disappointment for couple  

2000元存24年 該得22萬還是8000元？

1989年，盛忠奎夫婦拿出2000元存入當(dāng)?shù)啬炽y行，該銀行開的存單上寫明：該儲(chǔ)蓄為保值儲(chǔ)蓄品種，24年到期后可獲得本息共22萬元。今年9月21日存單終于到期后，盛忠奎夫婦去取錢卻被告知存單已失效。[查看全文]

(ECNS) -- A couple in Danjiangkou, Central China's Hubei province, went to cash in a due term deposit slip at a local bank, but were informed the slip, which should have been worth 220,000 yuan ($36,000), had been invalidated, People's Daily reported.

Chen Yongmei said she put 2,000 yuan ($326) in a 24-year term deposit at the bank in 1989. According to the certificate of deposit (CD), the principal and interest would total 220,000 yuan when the CD reached its term.

But the bank said such long-term inflation-proof bank savings business had been stopped by the People's Bank of China Hubei branch in 1989.

The bank said the couple's CD could only be cashed in for 8,400 yuan ($1,371), in line with the notification paper they received from the Central Bank Hubei branch.

A scholar said it's hard to say whether the bank was in default. "The bank must follow the Central Bank's provision to stop inflation-proof bank savings," he said. "However, it didn't inform the depositor immediately, which made the depositor miss opportunities to cash in or reinvest the money."

The bank should offer a compensation premium to the couple, the scholar added.