Core Viewpoint - Major state-owned banks in China have begun to lower deposit interest rates, marking the first round of rate cuts for the year, with specific reductions in various term deposits [1][2]. Group 1: Interest Rate Adjustments - The three-year and five-year deposit rates have been reduced by 25 basis points, while the rates for three-month, six-month, one-year, and two-year deposits have been lowered by 15 basis points. The interest rate for demand deposits has decreased by 5 basis points [1][2]. - For example, a deposit of 200,000 yuan for three years will yield 1,500 yuan less in interest due to the 25 basis point cut [1]. Group 2: Comparison with Previous Rate Cuts - In 2024, there have been two previous rounds of deposit rate cuts on July 25 and October 18. The current round's reductions are smaller compared to the last round, where all term deposits experienced a 25 basis point cut [2]. Group 3: Market Expectations and Reactions - The recent deposit rate cuts were anticipated following the People's Bank of China's (PBOC) recent monetary policy adjustments, including a reduction in the 7-day reverse repurchase rate from 1.50% to 1.40% [3]. - The PBOC's governor indicated that market-driven interest rate adjustments are expected to lead to a corresponding decrease in the Loan Prime Rate (LPR) by approximately 0.1 percentage points [3]. Group 4: Anticipated Actions from Other Banks - Following the lead of state-owned banks, national joint-stock banks are expected to follow suit in adjusting their deposit rates shortly [4]. - Smaller banks have already begun to lower their deposit rates, with specific examples including Guangdong Huaxing Bank reducing its five-year large denomination certificate of deposit rate from 2.5% to 2.35% [4].

Group 1 - China Construction Bank has lowered its RMB deposit rates as of May 20, with the interest rate for demand deposits reduced by 5 basis points to 0.05% [1] - The fixed-term deposit rates for three-month, six-month, one-year, and two-year terms have been decreased by 15 basis points, now standing at 0.65%, 0.85%, 0.95%, and 1.05% respectively [1] - The three-year and five-year fixed-term deposit rates have been cut by 25 basis points to 1.25% and 1.30% respectively [1] Group 2 - The rates for three types of fixed-term savings (zero deposit, full deposit, and interest withdrawal) have also decreased by 15 basis points [1] - The seven-day notice deposit rate has been lowered by 15 basis points to 0.30% [1]

进入5月，银行理财规模延续4月增长态势，站稳31万亿元关口。业内人士认为，近期银行理财规模上 行，主要受益于债市利率下行带动理财收益回升、存款搬家效应显现、银行销售策略调整等。新一轮存 款利率下调即将来临，银行理财规模或进一步增长，年内有望达到33万亿元。"原来三年期存款利率为 2.05%，现在只有1.65%。"上海一名程序员告诉记者，近期多家股份制银行、城商行下调了存款利率， 中长期限定期存款利率调整幅度较大，不如直接买短期限理财产品，而且流动性更好。记者从普益标准 获悉，截至5月19日，银行理财市场存续规模达31.27万亿元，较年初增长4.41%。(上海证券报) ...

今日晚间，一家国有大行人士表示，工作群里已经通知了存款利率即将下调的消息，不过不知道降多 少，让明天早上看邮件。另一家国有大行人士也告诉记者，存款利率即将下调，明天可能会发公告。 (21财经) ...

Core Viewpoint - The phenomenon of "deposit special forces" is fading as banks lower deposit interest rates, leading to a shift towards alternative investment products like bank wealth management [2][4][7]. Group 1: Deposit Rate Changes - The banking industry is entering a deposit rate reduction phase, with national commercial banks maintaining nominal rates while small and medium-sized banks have rapidly cut rates multiple times within six months [2][10]. - In 2023, the deposit rates for national commercial banks dropped significantly, with the five-year fixed deposit rate falling from 2.65% at the beginning of the year to 2% by the end, a decrease of 65 basis points [4][7]. - A total of 19 private banks have reduced deposit rates over 40 times in the current year, indicating a trend of narrowing interest rate differentials among banks [11]. Group 2: Disappearance of "Deposit Special Forces" - "Deposit special forces" refers to depositors who travel to different provinces or cities to open accounts for higher interest rates, a trend that has been declining due to regulatory changes and practical difficulties in opening accounts [4][7]. - The concept gained traction in 2023 as some small and medium-sized banks offered attractive rates, but the overall trend is shifting as these banks also begin to lower their rates [5][9]. - The operational challenges faced by depositors, such as the need for local residency proof to open accounts, have further diminished the appeal of cross-province deposits [7][9]. Group 3: Shift to Wealth Management Products - As deposit rates decline, there is a notable increase in the scale of bank wealth management products, with the total number of products reaching 40,600 and the total scale increasing by 9.41% year-on-year to 29.14 trillion yuan [14]. - The average annualized yield of bank wealth management products has improved to 2.70%, driven by a shift in market conditions favoring fixed-income products [14]. - The growth in wealth management is attributed to factors such as the "see-saw" effect in the market, where weak stock performance leads to stronger demand for fixed-income products, and banks enhancing marketing efforts for competitive yields [14].

作 者丨吴霜 编 辑丨肖嘉 图 源丨图虫 随着降准降息政策公布，银行存款利率面临新一轮下调。 5月7日，中国人民银行、国家金融监督管理总局、中国证券监督管理委员会三大金融管理部 门负责人齐聚国新办发布会，介绍"一揽子金融政策支持稳市场稳预期"有关情况。其中，人民 银行行长潘功胜发布三类十项一揽子货币政策措施，包括降低存款准备金率0 . 5个百分点、下 调公开市场7天期逆回购操作利率0 . 1个百分点至1 . 4%等。与此同时，潘功胜表示，"经过市场 化的利率传导，预计将带动贷款市场报价利率（LPR）随之下行0 . 1个百分点。同时，我们也 将通过利率自律机制引导商业银行相应下调存款利率"。这意味着，在新一期LPR出炉后，商 业银行将迎来新一轮存款利率下调。 回顾过往，每一轮存款利率下调一般由国有大行开启，股份行、地方中小银行依次跟进 。 不过，南方财经全媒体记者注意到，近两日，包括上海青浦惠金村镇银行、上海松江 富明村镇银行、茌平沪农商村镇银行、广东清新农村商业银行在内的多家中小银行发 布了下调人民币存款挂牌利率的公告。其中，前两家银行分别已经在3月底和4月底刚 刚调降过一轮存款利率。而 这背后，则是中小银行 ...

Core Viewpoint - The recent announcement of monetary policy adjustments by Chinese financial authorities is expected to lead to a new round of deposit rate cuts by banks, particularly affecting small and medium-sized banks [1][2]. Group 1: Monetary Policy Changes - The People's Bank of China announced a reduction in the reserve requirement ratio by 0.5 percentage points and a decrease in the 7-day reverse repurchase rate by 0.1 percentage points to 1.4% [1]. - The anticipated market-driven transmission of these rate changes is expected to lower the Loan Prime Rate (LPR) by 0.1 percentage points [1]. - The adjustments are part of a broader strategy to stabilize the market and manage expectations [1]. Group 2: Impact on Small and Medium-Sized Banks - Several small banks have already begun to lower their deposit rates, driven by the need to reduce funding costs amid narrowing interest margins [2][3]. - Historically, small banks offered higher deposit rates to attract customers, but competitive pressures have led to a decline in loan rates, resulting in asset shortages [3]. - Current deposit rates for major state-owned banks remain stable, with rates for various terms set at 1.35% to 1.90% [3]. Group 3: Long-Term Deposit Rate Adjustments - Long-term deposit rates have become the primary focus for reductions among small banks, with significant cuts observed [6][7]. - For instance, Guangdong Qingxin Rural Commercial Bank has set its long-term deposit rates as low as 1.50% for five years [4]. - The strategy for small banks includes both lowering long-term deposit rates and enhancing the collection of low-cost deposits through targeted marketing efforts [7][8]. Group 4: Wealth Management Trends - With declining deposit rates, residents are increasingly opting for early mortgage repayments and low-risk investment products such as insurance and bank wealth management products [9]. - The average yield of bank wealth management products has decreased from 2.94% to 2.65% year-on-year, prompting banks to diversify their investment strategies [10].

【导读】多地中小银行密集"降息"，存款利率步入"1时代" 5月9日，聊城沪农商村镇银行发布公告表示，该行于5月10日起，对人民币存款挂牌利率进行调整。调整前，该行2年期、3年期、5年期存款利率 分别执行2.1%、2.16%、2.16%；调整后，该行对应期限的利率分别执行1.89%、1.98%、1.98%。 在本轮调整中，聊城沪农商村镇银行对三个月及半年期的存款利率并未调整，调整类别主要集中在中长期存款产品，存款利率下调幅度为5BP至 21BP区间。 中国基金报记者马嘉昕 近日，多地中小银行开启新一轮存款利率下调行动。记者注意到，哈密市商业银行、聊城沪农商村镇银行等多地中小银行，以及多家民营银行均 表示，对存款利率进行下调。 整体来看，部分中长期存款利率已跌破2%，步入"1时代"。业界认为，本轮中小银行密集下调存款利率属于此前一轮全国性商业银行存款"降 息"后的跟进下调。 同时，随着央行近期宣布下调政策利率0.1个百分点，新一轮全国性银行集体"降息"或将到来。 多家中小银行密集"降息" | 存款项目 | 年利率% | | | --- | --- | --- | | | 调整前 | 调整后 | | 一、城乡居民及 ...

2025.05. 12 本文字数：2289，阅读时长大约4分钟 作者 | 第一财经 王方然 在福建工作的黄女士（化名）习惯每月将部分收入存进定期存款中。5月初，她发现原本一些主打高 息的中小银行也在加速降息。 她告诉记者，自己常用的这家民营银行，去年5月份三年期、五年期存款利率分别为3.3%、3.8%。 而今年4月初，她收到客户经理通知，三年期、五年期存款利率将降为2.8%、2.9%。最近她去询问 时，利率再降至2.45%、2.5%。 这并非个例。近期中小银行正加速"补降"。据第一财经不完全统计，4月起已有哈密市商业银行、聊 城沪农商村镇银行、海伦惠丰村镇银行、福建华通银行等超30家中小银行"补降"存款利率，下调幅度 在10BP至100BP不等。有银行甚至在1个月内三次下调中长期限存款利率。 有业内分析人士认为，随着央行明确释放引导信号，叠加银行息差压力，市场预期二三季度或将迎来 大行领衔的新一轮全面降息。 "补降"节奏明显加快 5月9日，聊城沪农商村镇银行宣布调整人民币存款挂牌利率，定存利率全线低于2%。其中，一年期 定期存款利率下调15BP至1.8%，两年期定期存款利率下调21BP至1.89%，三年期、五 ...

近期部分中小银行为何密集降低存款利率？背后有哪些考量？受访专家普遍认为，这主要是为了进一步 降低负债成本。 "存款是银行重要的负债来源，这是中小银行降低存款利率的重要原因。"中国邮政储蓄银行研究员娄飞 鹏表示。 4月8日，江西江州农商银行发布调整存款利率的公告称，该行自4月9日起调整人民币挂牌利率，调整后 整存整取存款利率三个月期、半年期、一年期、二年期、三年期、五年期分别为1.00%、1.25%、 1.50%、1.49%、1.48%、1.47%。其中，五年期较之前下降幅度最大，达38BP。 4月25日，浙江德清农商银行发布公告称，自4月30日起调整人民币储蓄存款执行利率，三年期、五年期 整存整取定期存款利率较3月16日公布的同期限存款利率分别下调10个、25个基点，至1.95%、1.8%。 记者梳理数据发现，江西江州农商银行、浙江德清农商银行等多家银行均出现了三年期存款利率略高于 五年期存款利率的情况。此外，民营银行成为此次存款利率调整的主力军，且调整后的存款利率较其他 类型中小银行仍较高。 4月份以来，多地中小银行密集下调存款利率。据《农村金融时报》记者观察，下调后，部分中小银行 三年期、五年期定期存款利 ...