银行存款利率，进入“0时代”

Group 1 - Since June, bank deposit rates have continued to decline, with medium and long-term deposit rates entering the "1 era" and some short-term deposit rates entering the "0 era" [1] - In June, the average interest rates for various term deposits were reported as follows: 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%, while the 3-month term average rate fell to 0.949% [1] - Compared to May, all term deposit rates decreased in June, with the 3-month rate dropping by 5.5 basis points (BP), 6-month by 5.6 BP, 1-year by 5.2 BP, 2-year by 5.6 BP, 3-year by 1.6 BP, and 5-year by 3.5 BP [1] Group 2 - The average interest rates for large denomination certificates of deposit (CDs) also showed a downward trend, with 3-year CDs at 1.55%, 2-year at 1.2%, and 1-month and 3-month rates entering the "0 era" at 0.9% [1] - In June, the average interest rates for large denomination CDs were reported as follows: 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] - The decline in interest rates for large denomination CDs was significant, with the 1-year rate down by 8.39 BP, 2-year by 18.67 BP, and 3-year by 30.01 BP [2] Group 3 - The phenomenon of "storing for 5 years is worse than storing for 3 years" has become more common, indicating a narrowing gap between large denomination CDs and term deposits [2] - The average expected yield for structured deposits in June was reported at 1.78%, a decrease of 7 BP from the previous month, while the average expected maximum yield was 2.14%, down 11 BP [2] - The recent trend of declining deposit rates is attributed to the ongoing market-oriented interest rate reforms and the pressure on banks' net interest margins due to the continuous decline in the Loan Prime Rate (LPR) [3]