Mainland elder stuns with ¥300,000 bank deposit forgotten for two decades

AI-generated image for illustration purpose only.

1st May 2024 – (Dazhou) A man in 70s from Sichuan discovered a substantial sum of forgotten savings in a local bank, which had accrued a significant amount of interest over two decades. Mr. Lei from Tongchuan District in Dazhou city was astonished to learn from a manager at the Agricultural Bank that he had seven term deposits amounting to 300,000 yuan which had been untouched for 20 years.

Initially sceptical, Mr. Lei cautioned the bank staff to double-check, fearing a possible mix-up. He expressed disbelief at the possibility of such a sum lying dormant under his name for so long. However, after verification, the bank confirmed that the funds indeed belonged to Mr. Lei. It transpired that he had made various deposits in local banks during his more prosperous business days. Over the years, with multiple house moves, certain items, including bank deposit certificates, had been misplaced, leading to his forgetfulness of these assets.

Despite his advanced age and having ceased business activities, Mr. Lei had already accrued substantial savings and had become accustomed to electronic payments, thus rarely visiting the bank in person.

Upon being asked how he wished to proceed with the newfound funds, Mr. Lei decided to reinvest the entire amount, including interest, back into the same bank. This decision not only underscores the wisdom of the elderly but also reflects a strategic approach to retirement savings.

The interest accrued on the original deposits alone had reached a total of 285,000 yuan eliciting admiration and a touch of envy from netizens. Social media buzzed with comments praising Mr. Lei’s financial acumen and quips about wanting to be his grandchildren.