Deposit benchmark interest rates have been lowered for the first time this year. On July 25th, several state-owned major banks updated their RMB deposit rate tables. Specifically, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications all lowered their current deposit interest rates from 0.2% to 0.15%. The benchmark interest rates for 3-month, 6-month and 1-year fixed-term deposits were lowered by 0.1 percentage point to 1.05%, 1.25% and 1.35% respectively. The benchmark interest rates for 2-year, 3-year and 5-year fixed-term deposits all decreased by 0.2 percentage point to 1.45%, 1.75% and 1.80% respectively.
今年国有大行首次下调存款利率
State-owned major banks have lowered deposit interest rates for the first time this year.
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