news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

A new round of deposit rate cuts is underway. In less than half a month, the six state-owned banks and 18 joint-stock banks have completed the deposit rate cuts, and many urban and rural commercial banks and local banks have followed suit. After this round of cuts, the deposit rate has officially entered the "1 era", with the 5-year time deposit rate as low as 1.8%.

"A fixed deposit made five years ago has recently arrived." Depositor Hu Lin (pseudonym) told reporters that he first deposited this money in a joint-stock bank in 2014. At that time, the fixed deposit interest rate was 5%. After the first maturity, the interest rate was "cut in half" to only 2.8%, but Hu Lin still chose the fixed deposit. Recently, this fixed deposit fund matured again. "I didn't expect the interest rate to be only 1.85%, and I couldn't find a suitable investment and financial management product for a while."

Like Hu Lin, many depositors, who have "nowhere to put" their funds, have started the "moving" mode again in the context of deposit rate cuts. In addition to low-volatility and stable deposit alternatives such as insurance and large-denomination certificates of deposit, fixed-income financial management and short-term debt funds have also become the choices of depositors.

Industry insiders believe that the deposit migration phenomenon will continue in the future, and low-volatility and stable products are expected to continue to be popular. When residents choose such products, they must also balance the relationship between risk and return based on their own needs and make careful choices.

Low-volatility and stable investment products are popular

As the deposit interest rate enters the "1 era", savings insurance products represented by traditional increasing whole life insurance products have become popular again with an absolute advantage of 3%. The reporter of China Business Network visited many bank branches and found that many residents came to consult about insurance products.