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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