On the afternoon of December 21, the news of a new round of deposit interest rate adjustment spread in the market.
On the same day, ICBC took the lead in issuing the "Instructions on Adjusting the Interest Rate of RMB Savings Deposits" on the mobile banking app, saying that it would reduce the listed interest rate of deposits from December 22. At this time, it has only been more than three months since the last round of centralized adjustment of deposit interest rates.
ICBC said that the adjustment of the listed interest rate mainly involves the newly opened (or withdrawn) call deposits, small deposits and withdrawals, lump sum deposits, deposits and interest withdrawals, 3-month, 6-month, one-year, two-year, three-year, five-year time deposits and large-amount certificates of deposit, among which, the listed interest rate of call deposits was reduced by 02 percentage points, the listed interest rates such as lump sum deposit, lump sum deposit and zero withdrawal, and principal deposit interest will be reduced by 01 percentage point, 3-month, 6-month, one-year fixed deposit interest rates reduced by 01 percentage point, the two-year fixed deposit interest rate was lowered by 02 percentage points, three-year and five-year time deposit interest rates reduced by 025 percentage points.
It is worth noting that in addition to adjusting the listed interest rate of deposits, ICBC said that the adjustment also optimized the prime interest rate level of call deposits and time deposits (including large-amount certificates of deposit) to reflect the changes in the market interest rate situation.
It is understood that a number of banks, including the China Construction Bank, the Bank of China, the Agricultural Bank of China, and the Postal Savings Bank, will also adjust the interest rates on deposits from tomorrow. A number of national joint-stock banks will also follow suit.
This will be the third time that major commercial banks have adjusted deposit rates in 2023.
On June 8, major state-owned banks took the lead in lowering the interest rate on RMB deposits, of which the interest rate on demand deposits was reduced by 5 basis points to 02%, and the interest rates on two-year, three-year and five-year RMB fixed deposits were reduced by 10 basis points, 15 basis points and 15 basis points, respectively.
On September 1, the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Merchants Bank and other collectives updated the RMB deposit interest rate table, showing that the one-year lump sum deposit and withdrawal interest rate was reduced by 10 basis points to 155%, the two-year lump sum deposit rate was lowered by 20 basis points to 185%, and the three-year and five-year lump sum deposit rates were lowered by 25 basis points to 22% and 225%。The interest rates for demand deposits, three-month and six-month lump sum deposits remain unchanged.
The reporter simply calculated that on December 21, the annualized interest rate of three-year large-amount certificates of deposit of many large state-owned banks was 265%, 2 after a 30bp downgrade35%, calculated according to 200,000 yuan for three years, the interest for three years will be 1,800 yuan less.
Interest rates on fixed deposits and large certificates of deposit are about to be lowered, and buying now can lock in the current higher interest rates. On December 21, the wealth manager of a state-owned bank in Guangzhou reminded him.
*: Comprehensive CBN, CCTV News, Guangzhou**, etc.
Editor: Zhang Yu.
Proofreading: Su Youyong.