1. Education savings refers to the special savings that individuals open accounts in designated banks and deposit a certain amount of funds for educational purposes according to relevant state regulations. It is a special savings for students to pay the education funds needed for non-compulsory education. Education savings are registered in real-name registration system. When opening an account, the depositor should hold his/her (student's) household registration book or ID card and go to the bank to open a deposit account in his/her own name. At maturity, the depositor shall withdraw the principal and interest in one lump sum with the passbook and relevant vouchers.
2. Education savings refers to a kind of regular savings that individuals save funds for their children to receive non-compulsory education (full-time high schools (technical secondary schools), junior colleges and undergraduate courses, master's degrees and doctoral degrees other than nine-year compulsory education), and deposit them regularly every month to repay the principal and interest at maturity. The three stages of study enjoy the tax-free discount of 20 thousand yuan for education savings respectively. The minimum deposit amount is 50 yuan, and the maximum principal amount is 20,000 yuan. The term of deposit is divided into one year, three years and six years.
3. 1999 After the personal income tax (hereinafter referred to as interest tax) derived from savings deposits is restored, in order to promote the healthy development of national education and encourage urban and rural residents to save money for their children's non-compulsory education by means of savings deposits, the state has decided to set up an education savings account from 2000, giving preferential interest rates and exempting interest tax. Since the introduction of this system, some children from poor families have been helped to receive higher education, which has brought benefits to residents to a certain extent. However, the original Measures for the Administration of Education Savings did not regulate the format, printing and distribution of identity certificates for students receiving non-compulsory education, which led to the lax and irregular management of education savings business in some areas, abnormal policy implementation and loss of state tax revenue.
4. All commercial banks and urban and rural credit cooperatives (excluding postal savings institutions) engaged in savings business can start educational savings. Education savings are registered in real-name registration system. When opening an account, a qualified student household registration book (household registration certificate) or resident ID card and other valid real-name certificates must be presented to the savings institution to open a deposit account in the individual name of the student. Financial institutions register the name and number of certificates according to the above-mentioned certificates provided by depositors (that is, students). When acting as a student, the agent must also issue his/her valid identity certificate.