Is three year fixed term safe in Rai Merchant Bank

Laishang Bank three-year time deposit is safe. Lai Shang Bank is a local joint-stock commercial bank in Laiwu City, Shandong Province, formerly known as Laiwu City Credit Union, which changed its name to the current one in July 2005. It is a regular licensed financial institution, which is supervised by the relevant departments. Its three-year time deposits are protected by the national deposit insurance system. If the bank goes bankrupt, depositors' deposits of up to 500,000 yuan will be fully compensated. Lai Shang Bank's three-year time deposits are safe.