Core Viewpoint - Recent adjustments in fixed deposit products by banks, particularly the cancellation of five-year fixed deposits by certain banks, highlight a broader trend of declining deposit rates among small and medium-sized banks in response to net interest margin pressures [1][5]. Summary by Category Deposit Rate Adjustments - The announcement from Tuyaqi Mengyin Village Bank and Kundu Lun Mengyin Village Bank indicates the cancellation of five-year fixed deposit options, marking them as the first commercial banks to do so [1]. - The adjusted deposit rates for various terms at Kundu Lun Mengyin Village Bank show a decrease in rates for three-month, six-month, one-year, two-year, and three-year deposits, with the five-year option being removed entirely [2][3]. Industry Trends - The trend of lowering deposit rates is not isolated, as numerous small and medium-sized banks, including Dalian Bank and Hubei Jingmen Rural Commercial Bank, have also reduced their deposit rates, with some products seeing declines exceeding 60 basis points [2]. - The phenomenon of "term inversion" in deposit rates is evident, where long-term deposit rates are lower than short-term rates, as seen with Xinjiang Manas Rural Commercial Bank's recent adjustments [5][6]. Strategic Responses - Banks are actively working to reduce liability costs to address the ongoing pressure on net interest margins, which have reached historical lows [5][7]. - The shift away from high-cost long-term liabilities has been observed, with major banks like China Construction Bank and others no longer offering five-year large denomination certificates of deposit [8][10]. Future Outlook - Analysts suggest that while commercial banks will continue to face pressure on interest income, the downward trend may ease due to factors such as improved capital market performance and the digital transformation of banks [11]. - The changing landscape of deposit rates necessitates a shift in investment strategies for ordinary depositors, encouraging diversification into lower-risk investment products [11].

Core Viewpoint - Recent adjustments in fixed deposit products by banks, particularly the cancellation of five-year fixed deposits by some banks, highlight a broader trend of declining deposit rates among small and medium-sized banks in response to net interest margin pressures [2][3][4]. Group 1: Bank Adjustments - The announcement from Tuoyang County Mengyin Village Bank and Kundu Lun Mengyin Village Bank to cancel five-year fixed deposits marks them as the first commercial banks in the industry to take this step [2]. - Several small and medium-sized banks have followed suit, with some deposit products seeing rate reductions exceeding 60 basis points [3]. - For instance, Hainan Baoting Rongxing Village Bank adjusted its one, two, three, and five-year fixed deposit rates to 1.2%, 1.25%, 1.6%, and 1.65%, reflecting decreases of 65BP, 55BP, 20BP, and 15BP respectively from August levels [3]. Group 2: Interest Rate Trends - The trend of declining deposit rates is a response to significant net interest margin pressures, with the net interest margin for commercial banks reported at 1.42% in Q2 2025, down 0.01 percentage points from Q1 [4]. - A notable "term inversion" phenomenon is occurring, where long-term deposit rates are lower than short-term rates, as seen with Xinjiang Manas Rural Commercial Bank's three-year rate at 1.35% and five-year rate at 1.30% [4]. - Major banks, including China Construction Bank, are also experiencing similar trends, with their three-year fixed deposit rates exceeding five-year rates by 25 basis points [5]. Group 3: Strategic Responses - Banks are actively seeking to lower their funding costs by reducing long-term liabilities and adjusting their product offerings, as indicated by the absence of five-year large denomination deposit products in many major banks [6][7]. - The banking sector is focusing on enhancing non-interest income through wealth management and custodial services while stabilizing net interest margins [7]. - Analysts suggest that the downward trend in interest income for commercial banks may ease due to factors such as improved loan pricing and risk matching, better performance in the capital market, and accelerated digital transformation [8]. Group 4: Implications for Investors - Traditional reliance on long-term fixed deposits for wealth preservation is being challenged, prompting financial advisors to recommend diversifying into government bonds, savings-type insurance, and low-risk bank wealth management products [8]. - Investors are encouraged to adapt their financial strategies in response to the declining interest rate environment to meet their wealth management needs effectively [8].

Core Viewpoint - Recent adjustments in fixed deposit products by banks, particularly the cancellation of five-year fixed deposits by certain banks, highlight a broader trend of declining deposit rates among small and medium-sized banks in response to net interest margin pressures [1][3][5]. Group 1: Deposit Rate Adjustments - Tuo Yuqi Mengyin Village Bank and Kundu Lun Mengyin Village Bank have announced the cancellation of five-year fixed deposit options, marking them as the first commercial banks to do so [1]. - The adjusted interest rates for various deposit products show a downward trend, with three-month, six-month, one-year, two-year, and three-year rates decreasing by 5 to 10 basis points [2][3]. - Other banks, such as Hainan Baoting Rongxing Village Bank, have also reduced their one-year, two-year, three-year, and five-year fixed deposit rates by up to 65 basis points [3]. Group 2: Market Trends and Implications - The trend of lowering deposit rates is not isolated, as numerous small and medium-sized banks have followed suit, with some products seeing reductions exceeding 60 basis points [3]. - A notable "term inversion" phenomenon is occurring, where long-term deposit rates are lower than short-term rates, indicating banks' reluctance to accept higher-cost long-term liabilities [5][7]. - Major banks, including state-owned and national joint-stock banks, are also experiencing similar trends, with three-year fixed deposit rates often exceeding five-year rates [7]. Group 3: Strategic Responses - Banks are adjusting their strategies to manage net interest margin pressures by reducing long-term deposit offerings and focusing on optimizing their liability structures [5][7]. - The banking sector is also exploring non-interest income sources, such as wealth management and custody services, to stabilize revenue and profits [7][8]. - The shift in deposit rates and the need for banks to adapt to a low-interest environment may prompt investors to consider alternative investment products, such as government bonds and low-risk bank wealth management products [8].

记者丨林汉垚 见习记者冯紫彤 编辑丨杨希 部分银行对定期存款产品结构的调整引发市场关注。 近日，土右旗蒙银村镇银行与昆都仑蒙银村镇银行发布公告，同步对定期人民币存款利率进行调整。 其中，土右旗蒙银村镇银行在公告中明确表示"取消五年整存整取定期存款"，而昆都仑蒙银村镇银行也在更新的利率表中不再提供该期限选 项。11日，21世纪经济报道记者致电昆都仑蒙银村镇银行，该行工作人员向记者表示： "五年期定期存款已经没有了，我们是4号刚刚调整 的。" 这两家同属蒙银村镇银行体系、位于包头市的机构， 成为业内首批取消五年期定期存款的商业银行。 | 产品分类 | 调整前利率 | 调整后利率 | | --- | --- | --- | | 1天通知存款 | 0.50% | 0.50% | | 7天通知存款 | 0.80% | 0.80% | | 三个月 | 1.15% | 1.10% | | 六个月 | 1.35% | 1.30% | | 一年 | 1.50% | 1.45% | | 二年 | 1.60% | 1.55% | | 三年 | 1.95% | 1.85% | | 五年 | 1.90% | | （图片来源：昆都仑蒙银 ...