Core Insights - Several banks have recently lowered RMB deposit rates, with major state-owned banks removing five-year large-denomination certificates of deposit (CDs) from their offerings [1][2] - The remaining three-year deposit products have seen rates drop to between 1.5% and 1.75%, with limited availability [1][2] - Some banks have begun to raise deposit rates as a strategy to attract deposits [3][4] Summary by Category Deposit Rate Changes - Major state-owned banks have collectively removed five-year large-denomination CDs, leaving only three-year products with rates between 1.5% and 1.75% [1][2] - Smaller banks are also adjusting or canceling three-year and five-year ordinary fixed deposit products [1][2] Recent Rate Increases - Some banks, such as Hangzhou Bank, have recently increased rates on certain deposit products, with new funds for three-year deposits starting at 1.9% for amounts of 200,000 yuan and 1.8% for non-new funds [3] - Other banks, including Ningbo Bank and Shengjing Bank, have also raised rates on select deposit products [4] Industry Perspective - Industry insiders suggest that the recent increases in deposit rates by some banks are a temporary measure aimed at attracting deposits [2][4]