Aggressive cuts: Small and medium-sized banks' long-term deposit rates enter the "1" range

Since March, small and medium-sized banks in regions such as Xinjiang, Yunnan, and Shanghai have been actively lowering their fixed deposit interest rates. This includes various types of banks such as city commercial banks, rural commercial banks, village and town banks, and private banks, with reductions ranging from 5 basis points to 80 basis points. This adjustment features comprehensive coverage across all terms, with some banks showing significant decreases, where the interest rates for two-year, three-year, and five-year fixed deposits have generally fallen below “2,” entering the “1” range. (Securities Times)