On October 18, ICBC, CCB, and Bank of Communications mobile banking all updated deposit listing interest rates. Among them, interest rates for three-month, half-year, one-year, two-year, three-year, and five-year time deposits were all reduced by 25BP to 0.80%, 1.00%, 1.10%, 1.20%, 1.50%, and 1.55%. The interest rate for 7-day notice deposits decreased by 25BP to 0.45%, and the 1-day notice deposit interest rate decreased by 5 BP to 0.10%. This is another time after July that major banks lowered deposit interest rates after a lapse of less than 3 months. It will also be the sixth time since September 2022 that major banks have taken the initiative to lower deposit interest rates.

Zhitongcaijing · 10/17 23:57
On October 18, ICBC, CCB, and Bank of Communications mobile banking all updated deposit listing interest rates. Among them, interest rates for three-month, half-year, one-year, two-year, three-year, and five-year time deposits were all reduced by 25BP to 0.80%, 1.00%, 1.10%, 1.20%, 1.50%, and 1.55%. The interest rate for 7-day notice deposits decreased by 25BP to 0.45%, and the 1-day notice deposit interest rate decreased by 5 BP to 0.10%. This is another time after July that major banks lowered deposit interest rates after a lapse of less than 3 months. It will also be the sixth time since September 2022 that major banks have taken the initiative to lower deposit interest rates.