Core Viewpoint - The article discusses the significant decline in large-denomination certificate of deposit (CD) interest rates, with many banks offering rates below 1% for one-year and shorter products, while a substantial amount of deposits, approximately 75 trillion yuan, is set to mature in 2026, leading to a "deposit migration" trend among savers [3][10]. Group 1: Interest Rate Trends - Large-denomination CD rates are rapidly entering the "0% era," with most banks' new one-year and shorter products falling below 1%, and three-year rates generally below 2% [3][4]. - The trend towards shorter-term products is evident, with five-year options nearly disappearing, and some banks raising minimum deposit requirements to 1 million yuan [4][6]. - The average interest rates for various terms have dropped significantly, with the average rate for three-month deposits at 0.944% and one-year deposits at 1.277% as of September 2025 [8]. Group 2: Deposit Maturity and Migration - An estimated 75 trillion yuan of residential fixed-term deposits will mature in 2026, with a notable increase in the amount maturing compared to 2025 [10][11]. - Many savers are opting to transfer their funds from large banks to smaller banks, which typically offer slightly higher rates, rather than moving to equity markets [11][12]. - Younger savers are creatively splitting their deposits among different banks to take advantage of promotional offers, likening it to a game [12]. Group 3: Bank Strategies to Retain Deposits - In response to the pressure of deposit outflows, banks are launching various initiatives to retain funds, including temporarily raising interest rates to around 2% and enhancing customer service through personalized strategies [13][14]. - Some banks are offering promotional products with rates above 2% to attract new customers, while others are implementing pre-reminder mechanisms and tailored renewal plans for existing customers [16][17]. - The focus has shifted from merely selling products to deepening customer relationships and providing precise recommendations based on competitive analysis of deposit rates [17].

Core Viewpoint - The banking sector is facing a "deposit defense war" as large deposit certificate rates are rapidly declining, with many banks offering rates below 1% for one-year products and below 2% for three-year products, while a significant amount of deposits is set to mature in 2026 [1][2][3][8]. Group 1: Deposit Rate Trends - The trend of large deposit certificates is shifting towards shorter terms, with most banks now promoting products with a maturity of one year or less, while five-year products are nearly extinct [2][3]. - The average interest rates for newly issued one-year and shorter large deposit certificates have dropped below 1%, with many three-year products not exceeding 2% [3][5]. - The interest rates for large deposit certificates from major banks, such as Industrial and Commercial Bank of China and Agricultural Bank of China, have significantly decreased, with one-month and three-month rates at 0.9% [4][5]. Group 2: Deposit Maturity and Customer Behavior - Approximately 75 trillion yuan of deposits are expected to mature in 2026, with a notable increase in the amount of one-year and longer-term deposits maturing compared to 2025 [8][11]. - Many depositors are opting for "cross-bank transfers" rather than moving to equity markets, seeking better rates from smaller banks, which often offer rates higher than those of larger banks [9][10]. - A survey indicated that a significant portion of depositors plan to renew their deposits, with expectations of renewal rates varying between 20% to 60% [11]. Group 3: Bank Strategies to Retain Deposits - In response to the pressure of deposit outflows, banks are implementing various strategies, including temporarily raising interest rates to around 2% to attract and retain funds [1][13]. - Some banks are enhancing customer service through personalized strategies and promotional activities to increase customer loyalty and retention [13][14]. - Regional banks are focusing on improving service processes, such as establishing pre-reminder mechanisms for maturing deposits and offering tailored renewal plans [14].