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Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank
Bank of China, Bank of Communications, Postal Savings Bank
Six major state-owned banks
The official announced the reduction of the listed interest rate of deposits
This is the first time that a large commercial bank has lowered its RMB deposit rate this year, and the fifth since September 2022.
According to the website of the Industrial and Commercial Bank of China, ICBC lowered the interest rate on RMB deposits. The interest rates on one-year, two-year, three-year and five-year RMB fixed deposits will be lowered to 1.35%, 1.45%, 1.75% and 1.8%.
Previously, they were 1.45%, 1.65%, 1.95%, and 2.00%.
According to the official website of the Agricultural Bank of China, the Agricultural Bank of China lowered the interest rate on RMB deposits on July 25, of which the interest rates for three-month, half-year and one-year fixed deposits were reduced by 10 basis points, 1.05%, 1.25% and 1.35% respectively; The two-year, three-year, and five-year rates were cut by 20 basis points to 1.45%, 1.75%, and 1.80%, respectively. The interest rates for zero deposits, lump sum deposits and principal deposits will be reduced by 10 basis points, and the interest rates for call deposits will be reduced by 10 basis points.
Experts believe that the 10 basis point drop in the loan prime rate (LPR) for loans with a maturity of more than 1 year and more than 5 years on July 22 is the direct reason for the bank to cut the deposit rate. On the one hand, the reduction of deposit interest rates will reduce the interest income of depositors, but it will also help banks further reduce loan interest rates in the future and reduce the financing costs of enterprises and individuals.
The reporter noted that the previous reduction of deposit interest rates was first implemented by large commercial banks, followed by 12 national joint-stock banks and city commercial banks, and finally implemented by small and medium-sized banks. Therefore, after today's reduction by large commercial banks, other banks will also follow suit to adjust deposit interest rates.
Source: Comprehensive CCTV News, Agricultural Bank of China, Industrial and Commercial Bank of China, etc
Produced by the Propaganda Department of the Wujin District Committee of the Communist Party of China
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