Shanghai Pudong Development Bank Lowers Deposit Rates

Published: May 21, 2025 14:40

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[Shanghai Pudong Development Bank Cuts Deposit Rates]
According to information on Shanghai Pudong Development Bank's official website, the bank implemented the latest RMB deposit rates on May 21. Among them, the demand deposit rate was cut by 5 basis points to 0.05%. For fixed deposits, the rates for lump-sum deposit and withdrawal for three-month, six-month, one-year, and two-year terms were all reduced by 15 basis points to 0.70%, 0.95%, 1.15%, and 1.20%, respectively. The rates for three-year and five-year terms were cut by 25 basis points to 1.3% and 1.35%. For small savings for lump-sum withdrawal and lump-sum deposit for small withdrawal for one-year, three-year, and five-year terms, the rates were each reduced by 15 basis points to 0.75%, 0.85%, and 0.95%. The rate for call deposit (individual savings) with a one-day maturity remained unchanged at 0.1%, while the rate for a seven-day maturity was cut by 15 basis points to 0.3%.

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