Today (July 26) learned from China Merchants Bank and Ping An Bank that after the six major commercial banks such as the Industrial and Commercial Bank of China cut interest rates yesterday, (news link: the six major state-owned banks announced: the → was lowered) the two national joint-stock banks also lowered the RMB deposit interest rate from today.
Specifically, the adjusted listed interest rate of RMB deposits of China Merchants Bank is consistent with that of the six major banks. The annual interest rate of demand deposits was adjusted from 0.20% to 0.15%, a decrease of 5 basis points; The three-month, six-month and one-year tenors of lump sum deposit and lump sum fixed deposits were adjusted from 1.15%, 1.35% and 1.45% to 1.05%, 1.25% and 1.35%, all of which were reduced by 10 basis points. The two-year, three-year, and five-year periods were adjusted from 1.65%, 1.95%, and 2.00% to 1.45%, 1.75%, and 1.80%, all of which were reduced by 20 basis points.
Ping An Bank's adjusted listed interest rate for RMB deposits is slightly different. Among them, demand deposits were adjusted from 0.20% to 0.15%, a decrease of 5 basis points; The three-month, six-month and one-year tenors of lump sum deposit and lump sum fixed deposits were adjusted from 1.20%, 1.45% and 1.65% to 1.10%, 1.35% and 1.55%, all of which were reduced by 10 basis points. The two-year tenor was adjusted from 1.90% to 1.60%, a decrease of 30 basis points; The three-year and five-year periods were adjusted from 2% and 2.05% to 1.80% and 1.85%, both of which were reduced by 20 basis points.
Source: CCTV News CCTV Finance
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Proofreading: Zhai Yuzhuo
Review: Yin Shengyu
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