Yang Shi Wang·2025-05-21 08:49Core Points - The one-year and five-year Loan Prime Rates (LPR) have both decreased by 10 basis points, now standing at 3.0% and 3.5% respectively [1] - Major banks, including the six largest banks and several joint-stock banks, have announced reductions in deposit rates following the LPR adjustments [1] Group 1: Deposit Rate Adjustments - The Industrial and Commercial Bank of China (ICBC) has updated its deposit rates effective from May 20, 2025, with all types of deposit rates being lowered [2] - The new rates include a 5 basis point reduction for demand deposits, and a 15 basis point reduction for three-month, six-month, and one-year fixed deposits [2] - Three-year and five-year fixed deposit rates have been reduced by 25 basis points [2] Group 2: Comparison of Deposit Rates - The adjusted deposit rates among major banks such as ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank are largely consistent, with slight variations from Postal Savings Bank and China Everbright Bank [4] - For instance, the one-year fixed deposit rate at ICBC is 0.95%, while Postal Savings Bank offers 0.98% and China Everbright Bank offers 1.15% [4] - Actual deposit rates may differ from the listed rates, with ICBC's one-year fixed deposit rate being 1.1% for amounts starting at 50 yuan on mobile banking [4] Group 3: Reasons for Rate Adjustments - The adjustments in deposit rates are closely linked to the recent decrease in LPR, as banks aim to maintain stable interest margins amid declining loan rates [6] - Typically, large banks initiate the rate adjustments, followed by joint-stock banks, and finally smaller banks [6] - Joint-stock and smaller banks often offer higher deposit rates compared to large banks after adjustments [6]