Group 1 - The banking industry is entering a "New Year" preparation phase, with some banks raising fixed deposit rates despite a general downward trend in deposit rates [1][4] - Banks like Hangzhou Bank, Ningbo Bank, and Shengjing Bank have recently increased rates on certain deposit products to attract customers during the traditional year-end savings season [1][3] - The increase in deposit rates is seen as a temporary measure by some banks, with potential for future rate reductions as they aim to lower funding costs [1][4] Group 2 - Specific rate adjustments include Hangzhou Bank raising its 3-year fixed deposit rate for new funds of 200,000 yuan to 1.9%, an increase of 10 basis points [2][3] - Ningbo Bank has also raised its 1-year fixed deposit rate for new funds of 200,000 yuan to a maximum of 1.6%, up from 1.5% [3] - Shengjing Bank introduced new deposit products with rates of 1.65%, 1.75%, and 1.85% for 1-year, 2-year, and 3-year terms, respectively [3] Group 3 - Industry experts suggest that the rate increases are a response to competitive pressures, particularly among smaller regional banks, as they prepare for the upcoming "New Year" competition [4] - Some banks have begun to phase out high-cost long-term deposits, with major state-owned banks collectively withdrawing 5-year large-denomination certificates of deposit [5] - The current environment allows banks to flexibly adjust deposit rates based on their specific business strategies and market conditions [5][6] Group 4 - The trend of declining long-term deposit products is evident, with major banks lowering rates and some even discontinuing 3-year and 5-year fixed deposit products [10] - As deposit rates approach zero, there is a growing interest among residents in investment and wealth management alternatives, with a notable shift towards diversified asset allocation [11][13] - The "New Three Golds" investment strategy, which includes money market funds, bond funds, and gold ETFs, is gaining popularity among younger investors as they seek stable returns with manageable risks [8][9][14]

Core Insights - The decline of interest rates has led to a shift in savings behavior, with many investors seeking stable and low-risk investment options as traditional bank deposits become less attractive [1][4][5] Group 1: Changes in Deposit Rates - Major state-owned banks have collectively removed five-year large-denomination certificates of deposit, reflecting a broader trend of declining deposit rates [1][4] - As of May, the interest rate for demand deposits has dropped to 0.05%, while one-year fixed deposit rates have fallen below 1% [4] - The trend of long-term deposits is also waning, with many banks reducing rates for three-year products to between 1.5% and 1.75% [4] Group 2: Shift to Investment Products - There is a growing enthusiasm among residents for investment products, with 18.5% of respondents in a recent survey indicating a preference for more investment, up 5.6 percentage points from the previous quarter [4] - In October, household deposits decreased by 1.34 trillion yuan, while deposits in non-bank financial institutions increased by 1.85 trillion yuan, indicating a shift in where individuals are placing their funds [4] Group 3: Emergence of "New Three Golds" Investment Strategy - The "New Three Golds" strategy involves diversifying investments into money market funds, bond funds, and gold ETFs, which has gained popularity among younger demographics [2][6] - As of April, 9.37 million individuals from the post-90s and post-00s generations have adopted the "New Three Golds" strategy on the Alipay platform [2][7] - This investment approach aims to balance risk and return by combining low-correlation assets, similar to the "permanent portfolio" strategy used internationally [7]

Core Insights - The article discusses the challenges faced by young individuals, like Jin Ming, who aimed to live off interest from savings but are now struggling due to declining bank interest rates [1][4][6] - Many are shifting their focus from traditional savings to investment strategies, such as the "New Three Golds" approach, to enhance their financial returns [11][12][26] Summary by Sections Declining Interest Rates - Bank deposit interest rates have been on a downward trend, with short-term rates falling below 1% and medium to long-term rates entering the "1 era," making it difficult for individuals to cover daily expenses through interest alone [1][5] - As of July 2023, even the highest interest rates offered by banks resulted in monthly earnings of less than 200 yuan, leading to feelings of confusion and uncertainty among savers [4][6] Shift to Investment Strategies - In response to low interest rates, individuals are increasingly turning to investment options like mutual funds, gold, and index funds to regain control over their financial situations [1][11] - The "New Three Golds" investment strategy has gained popularity, combining cash management tools like Yu'ebao, gold funds for risk hedging, and equity funds for higher returns [13][14][26] Personal Experiences and Adjustments - Jin Ming, after initially focusing on high-interest savings, has diversified her investments into gold and equity funds, reflecting a broader trend among young savers adapting to the new financial landscape [1][20] - Many individuals have shared their experiences in online communities, discussing the shift from traditional savings to investment strategies, with some even increasing their savings goals due to lower interest rates [9][11] Community and Support - Online platforms like Xiaohongshu and Douban have seen increased engagement around the topic of living off interest, with discussions evolving from sharing savings experiences to exploring investment strategies [8][9] - The "New Three Golds" strategy is seen as a way to balance risk and return, appealing to those who previously relied on interest income for financial stability [12][26]