21世纪经济报道·2025-07-08 15:39Core Viewpoint - The article discusses the decline in the attractiveness of large-denomination time deposits in the context of falling interest rates, leading to a shift in consumer investment behavior towards more appealing financial products like wealth management and insurance [1][2][4]. Summary by Sections Interest Rate Changes - Major banks have reduced interest rates on large-denomination time deposits, with rates now entering the "1" era, marking the first large-scale adjustment since 2025 [4]. - As of July 8, 2025, the interest rates for large-denomination time deposits at major banks are generally below 2%, with some rates even matching or falling below those of regular savings products [5][7]. Market Response - The decline in interest rates has led to a noticeable trend of "deposit migration," where funds are moving from traditional deposits to more attractive investment options such as wealth management and insurance products [2][10]. - The demand for large-denomination time deposits has decreased significantly, with fewer customers inquiring about these products [4][10]. Product Availability - Many banks have removed long-term large-denomination time deposits from their offerings, focusing instead on shorter-term products ranging from 1 month to 2 years [1][5]. - The availability of 5-year large-denomination time deposits has virtually disappeared, and even 3-year products are limited in supply [5][6]. Investment Trends - The shift in consumer behavior is reflected in the increasing popularity of wealth management products, with the market size surpassing 31.3 trillion yuan in the first half of 2025 [10]. - Financial advisors are now recommending products based on clients' liquidity preferences, with a focus on short-term fixed-income investments for those requiring higher liquidity [11][12].