Core Viewpoint - The banking industry is experiencing a shift towards lower deposit rates, leading to the decline of "deposit special forces" who previously sought higher interest rates by opening accounts in different provinces [2][3][5]. Group 1: Deposit Rate Changes - The banking sector has entered a deposit rate reduction phase, with national commercial banks maintaining their listed rates but lowering special deposit rates, while small and medium-sized banks have accelerated their rate cuts [2][8]. - In 2023, the five-year fixed deposit rate dropped from 2.65% at the beginning of the year to 2% by the end, a decrease of 65 basis points [3]. - A total of 19 private banks have reduced deposit rates over 40 times this year, indicating a significant trend towards lower rates across the sector [8]. Group 2: Disappearance of "Deposit Special Forces" - "Deposit special forces," referring to depositors who traveled to different regions for better rates, are becoming less common due to the diminishing interest rate differentials among banks [3][7]. - The phenomenon of cross-province deposits was previously stimulated by higher rates offered by some small and private banks, but this is changing as rates converge [5][7]. Group 3: Impact on Banking Products - As deposit rates decline, more depositors are turning to alternative investment products, leading to a rise in bank wealth management products [10]. - The total number of wealth management products has increased to 40,600, with a total scale of 29.14 trillion yuan, reflecting a 9.41% year-on-year growth [10][11]. - The average annualized return on bank wealth management products has risen to 2.70%, making them more attractive compared to traditional deposits [11].

Core Viewpoint - Recent trends show that medium to long-term bank deposit rates are approaching the "1 era," with rates for 5-year deposits around 1.55%-1.6% and 3-year deposits ranging from 1.5% to 2.15% [1][5]. Group 1: High-Interest Deposit Trends - The term "deposit special forces" refers to individuals traveling across regions to open bank accounts with higher interest rates [2]. - Social media platforms have seen a resurgence of posts about "high-interest deposits" and "deposit special forces," with users inquiring about rates above 2.8% for 5-year deposits [5]. - A user reported successfully securing a 3-year deposit at a rate of 2.6%, which could yield an additional 900 yuan compared to the 2.15% rate for a 200,000 yuan deposit over one year [5]. Group 2: Risks and Considerations - A self-identified bank employee claimed a 3-year deposit rate of 3%, suggesting that smaller banks may offer higher rates to attract customers [5][15]. - However, experts caution that such high rates are rare and may be limited-time offers targeting specific customer groups [15]. - There are concerns regarding the legitimacy of online offers, with potential risks of high-interest solicitation and third-party "interest subsidies," which could lead to regulatory issues and impact deposit returns [16].