Is there any interest on the money saved in the social security card?

The money is kept in the social security card, and there is no interest.

Social security card is divided into financial account and social security account. The funds in a financial account can be freely accessed, which is similar to the function of a savings card. The funds in the social security account cannot be directly withdrawn, and can only be used to enjoy social security benefits if certain conditions are met. The funds in the social security account are mainly used for social security expenditures such as medical care and pension, and do not have the attribute of deposit interest. Therefore, the funds in the social security card will not generate interest, and its main purpose is to protect the basic needs of individuals in medical care and pension.

Function and application of social security card;

1. Identity authentication: The social security card contains the identity information of the cardholder and can be used for identity authentication of medical institutions and social security service windows;

2. Medical payment: social security cards can be used to pay for medical insurance accounts that individuals participate in, reducing cash transactions;

3. Information inquiry: cardholders can inquire about personal social security payment and medical expenses records through social security cards;

4. Electronic wallet: Social security cards in some areas have the function of electronic wallet, which can be used for small consumption payment;

5. Employment service: Social security card is sometimes used as the employment registration certificate of job seekers for the registration and service of employment service centers.

6. Other services: Social security cards in some areas may also integrate functions such as bus cards and library borrowing.

To sum up, the funds in the social security card will not generate interest, and its main purpose is to protect the basic needs of individuals in medical care and pension.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 14

Personal accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.