Education savings is a fixed-term savings deposit with zero deposit and lump sum withdrawal. Refers to the individual in accordance with the relevant provisions of the state, to open an account in a designated bank, deposit a certain amount of education funds in the special savings. It is a special savings for students to pay the education funds needed for non-compulsory education.

The object of education savings is students above grade four (including grade four) in primary schools. Upon maturity, the principal and interest will be withdrawn in one lump sum with the passbook and the identity certificate of the students who are receiving non-compulsory education provided by the school.

Education savings are registered in real-name registration system. When opening an account, the depositor should hold the household registration book or ID card and open a deposit account in the bank in his own name.