多地农商行开年“逆势加息”，部分3年期存款产品的年化利率上浮至1.75%

Core Viewpoint - In early 2026, a "reverse interest rate hike" initiated by rural commercial banks is emerging amidst large state-owned banks reducing long-term deposit products and overall deposit rates entering the "1% era" [1][3] Group 1: Interest Rate Trends - Large banks are maintaining a strategy of lowering long-term, high-cost deposits, with 1-year ordinary deposit rates generally below 1% and 5-year large certificates of deposit becoming scarce [3][6] - Conversely, several local rural banks are launching deposit products with increased interest rates, creating localized "high ground" in the market [3][4] - For instance, Hunan Xinhui Rural Commercial Bank has raised its 3-year fixed deposit rate to 1.75% with a minimum deposit of 30,000 yuan, while Nanyue Rural Commercial Bank offers rates of 1% for 3-month deposits and 1.4% for 1-year large certificates of deposit [3][4] Group 2: Marketing Strategies of Rural Banks - The combination of "high interest rates + high thresholds + short duration" is a calculated marketing strategy by small banks under severe liability pressure, aiming to attract large, short-term idle funds from local customers [5][7] - This strategy is particularly relevant during the "opening red" period when banks face pressure to secure deposits as many deposits are maturing [5][7] Group 3: Industry Profitability and Pressure - The net interest margin for commercial banks has narrowed to a historical low of 1.42%, significantly below the regulatory acceptable level of 1.8%, indicating systemic profitability pressure in the banking sector [6][8] - The continuous decline in asset yields due to supportive policies for the real economy and the rigid costs of liabilities are contributing to this pressure [6][8] Group 4: Future Outlook - Despite localized interest rate increases, the long-term trend for deposit rates is expected to decline, driven by macroeconomic conditions and ongoing monetary policy aimed at maintaining liquidity [8][9] - The banking sector is anticipated to focus on reducing liability costs to stabilize net interest margins, suggesting that the current promotional interest rates may not be sustainable beyond the short term [8][9] - A shift in the banking industry's liability structure is necessary, moving away from reliance on interest rate competition towards enhancing overall financial service capabilities and customer experience [9][10]