Small and Medium-Sized Banks' Long-Term Deposit Rates Drop Below 2%

Since March, small and medium-sized banks in Xinjiang, Yunnan, Shanghai, and other regions have been intensively lowering fixed deposit interest rates, covering city commercial banks, rural commercial banks, village banks, and private banks. The rate cuts range from 5 basis points to 80 basis points. This adjustment features full-term coverage and some banks with significant reductions, with mid- and long-term fixed deposit rates of two, three, and five years generally falling below “2,” entering the “1” range. (Securities Times)