A new round of deposit interest rate cuts is coming, some major banks already lowered their rates by up to 25BP

The deposit interest rate adjustment table provided by a financial management manager of a major bank in Beijing shows that the bank’s interest rate adjustment includes one-year, two-year, three-year, and five-year listed deposit interest rates and rate cap for negotiated interest rates. The bank’s listed deposit interest rates for one-year terms are reduced by 10 basis points, for two-year terms by 20 basis points, and for three-year and five-year time deposits by 25 basis points, effective August 31. However, as of press time, the bank’s official website has not yet updated the new listed interest rate table, and the latest deposit interest rate adjustment information provided by customer service staff is also on June 8. In addition, another account manager of a major bank told the CLS reporter that the bank expects to make adjustments tomorrow, but the specific notice has not been issued, and it is expected that the short-term 3-month and 6-month fixed deposit interest rates will remain unchanged. The 3-year deposit rate will drop the most, expected to be 25BP.