Is there any interest on saving money with social security card?

As a part of social security system, its main function is to record personal social insurance information as a voucher for related social insurance business.

First of all, it is necessary to clarify the basic attributes of social security cards. Social security card is not a bank account in the traditional sense, and it does not have the functions of deposit and interest calculation like a bank account. The main function of social security card is to pay and receive social insurance benefits such as medical care and pension, rather than as a saving tool.

However, in practice, social security cards in some areas may be associated with bank accounts, that is, social security card financial accounts. This kind of account usually has the function of deposit and withdrawal, and may calculate interest at a certain interest rate. However, it should be noted that not all social security cards have this kind of financial account, and the specific interest rate and interest-bearing rules may vary according to different regions and policies.

Therefore, to determine whether the social security card has interest, we must first understand the social security card policy of the individual's location and whether the social security card is associated with a bank account. If the social security card is associated with a bank account and has a deposit function, the deposit may generate interest. However, the specific interest rate and interest rules need to be consulted with the local social security department or relevant banks.

In addition, even if the social security card is associated with a bank account and can be deposited, we need to pay attention to the fact that the main function of the social security card is still social security, not savings or investment. Therefore, when using the social security card, we should mainly pay attention to its social security function, rather than regard it as a saving tool.

To sum up:

Whether the social security card has interest depends on whether the social security card is associated with a bank account and the specific regional policies. If the social security card is associated with a bank account and has the function of deposit, the deposit may generate interest, but the specific interest rate and interest-bearing rules need to be consulted with the local social security department or relevant banks. When using the social security card, we should mainly pay attention to its social security function, rather than regard it as a saving tool.

Legal basis:

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

Article 60 provides that:

The employing unit shall declare itself and pay social insurance premiums in full and on time, and shall not postpone or reduce the payment except for legal reasons such as force majeure. The social insurance premiums that employees should pay shall be withheld and remitted by the employer, and the employer shall inform me of the details of paying social insurance premiums on a monthly basis.

Article 6 1 stipulates that:

Social insurance premium collection agencies shall collect social insurance premiums in full and on time according to law, and regularly inform employers and individuals of the payment.