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Core Viewpoint - The recent actions of major banks indicate a significant tightening of deposit options, particularly with the removal of long-term fixed deposit products and a decrease in interest rates, leading to a challenging environment for savers [1][5][17] Group 1: Changes in Deposit Products - Major state-owned banks have discontinued 5-year fixed deposits as of December 1, and the threshold for 3-year deposits has been raised to 1 million yuan at some banks [1][11] - The interest rate for 1-year fixed deposits has dropped to 0.95%, with expectations of further declines in the coming year [1][14] Group 2: Impact on Banks - The increase in long-term deposits over the past two years has put pressure on banks, as they are obligated to pay higher interest rates on these deposits despite falling market rates [3][5] - Banks are facing a situation where the interest rates on existing deposits exceed the rates they can charge on new loans, leading to reduced profitability [5][9] Group 3: Profitability Concerns - The net interest margin for banks has decreased from 2.6% in 2014 to a projected drop below 1.5% in 2025, which is a critical threshold for bank operations [9] - Factors contributing to the decline in loan rates include continuous interest rate cuts by the central bank and the implementation of floating mortgage rates, which further compress bank income [6][12] Group 4: Future Outlook for Depositors - The tightening of deposit options and declining interest rates means that traditional savings methods are becoming less viable for maintaining purchasing power against inflation [12][14] - Investors are encouraged to explore alternative investment options, such as stocks, funds, and high-rated financial products, as reliance on fixed deposits for stable returns is no longer feasible [16][17]