2024-01-15 10:50:51
10-40BP Many small and medium-sized banks bucked the trend and raised deposit interest rates at the beginning of the new year. The two-year income of 100,000 yuan can increase by up to 800 yuan.
Financial Associated Press reporter Gao Ping
2024-01-15 18:50:51
Financial News Agency, January 15 (Reporter Gao Ping) Since the beginning of 2024, small and medium-sized banks have continued to follow up and lowered the listed deposit interest rates. However, some small and medium-sized banks have bucked the trend and raised them. Recently, Puyang Rural Commercial Bank, Xinmi Rural Commercial Bank, Yanjin Rural Commercial Bank, etc. have all announced a phased increase in deposit interest rates. Some banks compared the income before and after the interest on a fixed deposit of 100,000 yuan, showing that the one-year term will increase the income by 350 yuan. 800 yuan more income for the 2-year term.
Industry insiders told reporters from the Financial Associated Press that during the peak season for collecting deposits, some small and medium-sized banks are actively preparing for “a good start” activities, so they do not rule out the possibility of periodic increases in deposit interest rates. However, in the medium to long term, deposit interest rates generally show a downward trend. The adjustments and extent of adjustments by different banks mainly depend on the banks themselves and the interest rate adjustments of similar banks.
Many small and medium-sized banks bucked the trend and raised deposit interest rates at the beginning of the new year, with one bank raising the maximum by 40BP.
Since the beginning of 2024, many small and medium-sized banks have announced increases in deposit interest rates. For example, Yanjin Rural Commercial Bank said that from January 12 to March 31, the bank’s deposit interest rate was raised again, with the 1-year interest rate being 2.15% and the 2-year interest rate being 2.35%. Taking the deposit income of 100,000 yuan as an example, the 1-year interest rate is 2.15%. The interest due in one term is 2,150 yuan, and the interest due in 2 years is 4,700 yuan.
Staff of Yanjin Rural Commercial Bank told reporters from the Financial Associated Press that the bank’s three-month and half-year deposit interest rates have also been raised. The interest rate for three-month deposits over 100,000 yuan has been raised from 1.5% to 1.6%, and the interest rate for half-year deposits has been raised. The interest rate was raised from 1.7% to 1.8%. In addition, for deposits above 100,000 yuan, the 1-year interest rate was raised from 1.9% to 2.15%, and the 2-year interest rate was raised from 2.0% to 2.35%.
Coincidentally, Xinmi Rural Commercial Bank has also recently raised its deposit interest rates. The bank’s new execution interest rates for 3 months, 6 months, 1 year, and 2 years (a single deposit of more than 10,000 yuan) are 1.6% and 1.8%. , 2.15%, 2.4%, the activity period is from January 5th to March 31st. Regarding the specific changes in income after the adjustment, Xinmi Rural Commercial Bank took a deposit of 100,000 yuan as an example. After the adjustment, the income for the three-month deposit was 50 yuan more than before the adjustment, the six-month deposit was 75 yuan more, and the one-year deposit was 75 yuan more than before the adjustment. 350 yuan, 800 yuan more for the 2-year term.
Puyang Rural Commercial Bank also recently issued a notice of increase in deposit interest rates. The minimum deposit is 10,000 yuan. After the increase, the 3-month, 6-month, 1-year, 2-year, and 3-year time deposit interest rates are 1.6%, 1.8%, and 2.15% respectively. , 2.4%, 2.7%. Staff of the bank told reporters from the Financial Associated Press that the implementation date of the increased interest rates is temporarily until the end of March. Among them, the 1-year, 2-year, and 3-year deposit interest rates were 1.9%, 2.0%, and 2.3% respectively before the increase. , the upward adjustment ranges are 25BP, 40BP, and 40BP respectively.
The overall trend is downward, and some banks’ 3-year and 5-year interest rates are now upside down.
Although there have been periodic increases in bank deposit interest rates, “However, the overall bank deposit interest rate is on a downward trend.” A financial manager of a joint-stock bank told a reporter from the Associated Press that deposit interest rates experienced several rounds of large-scale adjustments last year, and banks mainly lowered them. is still the long-term deposit interest rate. According to data monitored by Rong360 Digital Technology Research Institute, the average interest rates of 2-year, 3-year, and 5-year deposits in November 2023 dropped by 27BP, 39.5BP, and 43.5BP respectively compared with the end of the previous year.
In addition, since the beginning of 2024, some small and medium-sized banks have also continued to follow the lead of large banks and joint-stock banks in lowering the listed deposit interest rates. For example, in order to comply with the trend of market-oriented interest rate reform, Yili Rural Commercial Bank will adjust the deposit listing interest rate from January 1, 2024. After the adjustment, the bank’s 1-year, 2-year, 3-year, and 5-year fixed-term The deposit execution interest rates are 1.55%, 1.75%, 2.05%, and 2.1% respectively. Compared with the unadjusted information, the above periods have been reduced by 15 basis points, 25 basis points, 45 basis points, and 30 basis points respectively.
“During the peak season for attracting deposits, some small and medium-sized banks are actively preparing for ‘good start’ activities. Deposit interest rates have risen and fallen, which reflects that the domestic deposit market mechanism is working, which is a normal phenomenon.” said Zhou Maohua, a macro researcher at the Financial Markets Department of China Everbright Bank. However, he also believes that the premise is that the domestic deposit market maintains normal competitive order.
In Zhou Maohua’s view, each bank’s deposit interest rate adjustments must meet the requirements of self-regulatory organizations and deposit interest rate adjustments must be consistent with the bank’s actual operating conditions such as liabilities and net interest margins. Small and medium-sized banks need to speed up the improvement of internal governance, improve internal management levels, give full play to geographical advantages, deepen the regional market, improve operating standards, better meet the needs of regional markets for diversified financial services, and promote a virtuous cycle of assets and liabilities.
It is worth mentioning that some banks have listed interest rates for 3-year time deposits that are slightly higher than those for 5-year time deposits. For example, starting from January 1, the 3-year and 5-year fixed deposit interest rates of Hubei Jingmen Rural Commercial Bank and Hubei Beishan Rural Commercial Bank are 2.5% and 2.45% respectively.
Zhou Maohua said in an interview with a reporter from the Financial Associated Press that this reflects that some banks currently have relatively weak demand for long-term deposits of five years and prefer deposit liabilities with relatively short maturities. In addition, in recent years, some residents’ savings have become fixed deposits. Banks have reasonably lowered long-term deposit interest rates, which not only reduces banks’ comprehensive liability costs, but also improves the relationship between supply and demand of savings deposits.
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