Xin Lang Cai Jing·2026-01-09 10:57Core Viewpoint - In early 2026, several major state-owned banks in China have launched new large-denomination time deposit products, but short-term product interest rates have generally entered the "0" range [1][3]. Group 1: State-Owned Banks - The annual interest rates for 1-month and 3-month large-denomination time deposits from major state-owned banks such as Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank are all at 0.9%, with a minimum deposit requirement of 200,000 yuan [1][3]. - The China Construction Bank has only launched a special one-year product for the Beijing area with an interest rate of 1.4%, while Postal Savings Bank has not yet issued large-denomination time deposits [1][3]. - Since December 2025, the six major state-owned banks have collectively removed five-year large-denomination time deposits, with available products now generally limited to three years or less, and interest rates ranging from 1.10% to 1.55% [1][3]. Group 2: Other Banks - In contrast to state-owned banks, some joint-stock banks, city commercial banks, and rural commercial banks still offer short-term large-denomination time deposits with interest rates above 1%. For instance, Citic Bank's 1-month large-denomination time deposit has an interest rate of 1.1%, while Tianjin Bank's 3-month product offers 1.15% [1][3]. - Some smaller banks are also experiencing downward pressure on short-term interest rates, with certain rates entering the "0" range. For example, Yunnan Tengchong Rural Commercial Bank plans to issue a three-month large-denomination time deposit with an interest rate of 0.95% [2][4]. - Industry experts indicate that the recent interest rate adjustments are closely related to banks' ongoing efforts to manage net interest margins and reduce funding costs, suggesting that the downward trend in deposit rates may continue in the current market environment [2][4].