Recently, the six major state-owned banks issued interest rate cut notices at the same time, which made depositors very anxious. Taking ICBC as an example, after this interest rate cut, the interest rate of one-year time deposits is only 145%, while the three-year interest rate is only 195%, and the highest five-year fixed deposit rate is only 2%. This means that the interest rate on fixed deposits has dropped to no more than 2% across the board, which is equivalent to the yield of demand deposits and baby deposits in the past few years. This has also sparked heated discussions among netizens, who are not only focusing on the reasons for the decline in interest rates, but also on whether the interest rate cut will trigger a large shift in depositors' deposits.
The rate cut has affected not only the interests of depositors, but also the dissatisfaction of the six major state-owned banks. Many depositors believe that banks' interest rate cuts do not fully take into account the rights and interests of depositors, and are only to promote consumption and investment. However, in the current situation, investments and investments may be at a loss. For home buyers, even if the down payment is sufficient, you need to bear the pressure of repaying the loan in the next two or three decades, and at the same time, you must also prevent the risk of housing prices continuing to **. In contrast, keeping your money in a bank seems to be a more sensible option. However, in the context of depositors' pursuit of higher deposit yields, the contrarian interest rate hikes of some small and medium-sized banks have become another option.
While the six major banks announced interest rate cuts, some small and medium-sized banks have reversed interest rate hikes in an effort to attract depositors' deposits. Taking a bank in Anhui as an example, there was a recent news that it launched a special deposit product, with a maximum interest rate of 6%. However, the bank later clarified the rumor and said that in fact, the three-year fixed deposit rate was the highest among the bank's deposit products, at 305%。Although there is a big gap from the rumored 6%, 3The interest rate of 05% is still much higher than the interest rate of the six major state-owned banks and joint-stock banks, which is attractive to depositors.
In addition to Anhui Bank, many small and medium-sized banks have recently raised deposit interest rates to compete for deposits. For example, several rural commercial banks in Henan have raised the interest rate on one-year deposits to 195%, and the two-year deposit rate reaches 215%。Two village banks in Guangdong and Guangxi have even raised their one-year deposit rates to a maximum of 225%。Although these rates are still low relative to the rates of the six state-owned banks and joint-stock banks mentioned above, they are still more attractive than before, and there is some good news for depositors.
However, the question of whether savers will choose to move their deposits as a result of this is not easy to answer. Although we have heard in the past that people have taken high-speed trains across cities in order to secure deposits at higher interest rates, this is an extreme example. For most savers, they are not willing to travel too far for tens of thousands of deposits. In addition, it should also be noted that since the beginning of this year, 10 village and township banks have been dissolved in accordance with the law, and most of them have been absorbed and merged by the shareholder banks. For depositors, although there will be no loss of funds, this is also a risk factor for small and medium-sized banks that needs to be taken into account.
Overall, the current reduction in deposit rates has really bothered depositors, making them wonder if their deposits are worth moving. However, due to a combination of factors, depositors still face certain difficulties and risks when deciding whether to choose deposits from small and medium-sized banks with contrarian interest rate hikes. Therefore, for depositors, in addition to paying attention to the changes in deposit interest rates, they should also pay attention to the risks and stability of small and medium-sized banks. In this era of changing financial conditions, savers should make informed choices based on their needs and risk tolerance, and avoid impulsive deposit behavior. At the same time, the regulators should also strengthen the supervision of bank interest rates, ensure the fairness and transparency of deposit interest rates, and protect the legitimate rights and interests of depositors.