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.

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.