Five Major Chinese State-Owned Banks Adjusted Deposit Interest Rate And Lower The Three-Year Deposit Interest Rate By 15 Basis Points

Published: Jun 8, 2023 15:52

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Today, the five major state-owned banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Bank of China and Bank of Communications, lowered their deposit interest rates further.

SHANGHAI, Jun 8 (SMM) – Today, the five major state-owned banks in China, including Industrial and Commercial Bank of China, Agricultural Bank of China, Construction Bank, Bank of China and Bank of Communications, lowered their deposit interest rates further.

The demand deposit rate was lowered to 0.2% from the previous 0.25%.

The 2-year deposit rate was cut by 10 basis points to 2.05%, the 3-year deposit rate was cut by 15 basis points to 2.45%, and the 5-year deposit rate was cut by 15 basis points to 2.5%.

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