On June 6, a number of large state-owned banks officially announced that they would adjust the interest rate on RMB deposits. Among them, the listing rate of demand deposits was reduced by 8 basis points to 5.0%.
The listing interest rate of fractional deposit lump sum, whole deposit receipt, and principal deposit and interest withdrawal products remains unchanged. This is the second time that major national banks have lowered the listed interest rates of some maturity deposits according to changes in market interest rates and deposit supply and demand after September 2022.