存款利率继续下降，3个月定存平均利率步入“0时代”

Core Viewpoint - The report from Rong360 Digital Technology Research Institute indicates a continued decline in bank deposit rates, with medium to long-term rates entering the "1 era" and 3-month rates entering the "0 era" [1] Group 1: Deposit Rate Trends - As of June 2025, the average deposit rates for various terms are as follows: 3-month at 0.949%, 6-month at 1.156%, 1-year at 1.287%, 2-year at 1.372%, 3-year at 1.695%, and 5-year at 1.538% [1][2] - The report shows a month-on-month decline in average rates across all terms, with 3-month rates down by 5.5 basis points, 6-month by 5.6 basis points, 1-year by 5.2 basis points, 2-year by 5.6 basis points, 3-year by 1.6 basis points, and 5-year by 3.5 basis points [2] Group 2: Large Certificate of Deposit Rates - For large certificates of deposit, the average rates in June 2025 are: 3-month at 1.179%, 6-month at 1.391%, 1-year at 1.477%, 2-year at 1.462%, 3-year at 1.768%, and 5-year at 1.700% [2] - All terms for large certificates of deposit also experienced a decline, with the 3-month rate down by 5.96 basis points, 6-month by 6.74 basis points, 1-year by 8.39 basis points, 2-year by 18.67 basis points, and 3-year by 30.01 basis points [2] Group 3: Structured Deposit Trends - The average term for RMB structured deposits in June 2025 is 103 days, an increase of 13 days from the previous month, with an average expected middle yield of 1.78%, down by 7 basis points [3] - Different types of banks show varying average terms for structured deposits, with state-owned banks at 70 days, joint-stock banks at 90 days, city commercial banks at 164 days, and foreign banks at 334 days [3] Group 4: Performance by Linked Assets - For structured deposits linked to different assets, the average expected middle yield for those linked to exchange rates is 1.77%, down by 24 basis points, while those linked to gold yield 1.78%, down by 2 basis points [4] - Structured deposits linked to indices, funds, and stocks show an average expected middle yield of 2.00%, which is an increase of 1 basis point, with the highest expected yield at 5.40%, up by 8 basis points [4]