The stock company is also following up! Savings treasury bond fell below 3%, and the products after the state-owned banks lowered the deposit interest rate | allocation | wealth management | adjustment | deposit interest rate | bank | interest rate | reduction
On June 9th, the reporter visited and called several joint-stock banks in Beijing to learn that following the interest rate cuts by state-owned banks, some joint-stock banks will also follow up on the deposit interest rate cuts starting from next Monday. In addition, the interest rate of the latest three-year savings treasury bond is 2.95%, which is the first time that it has fallen below 3% in recent years.
Stock Bank Follow up on Lowering Deposit Interest Rates
"The deposit interest rate will be lowered next Monday," a staff member of Minsheng Bank told reporters. "A notice has been issued that a three-year fixed-term product with a starting selling rate of 3.25% for 200000 yuan will be sold no later than Sunday."
He told reporters, "There is currently no clear notice of the specific reduction amount, but based on past reductions, it is estimated to be 10-20 basis points, and the specific interest rate is subject to the actual reduction situation."
A wealth management manager from Beijing Xicheng District of Everbright Bank also told reporters, "There will be a wave of interest rate cuts recently, and the bank has already adjusted it. The joint-stock bank may have to keep up one by one, and it is expected to adjust next week at the earliest, possibly to around 3%."
Some joint-stock banks have also stated that the recent interest rate reduction work has been completed.
A staff member of China Merchants Bank Beijing Branch told reporters, "We lowered the interest rate relatively early. Currently, the interest rate for three-year fixed deposit products is 2.9%, which may be maintained for a period of time."
China CITIC Bank also stated, "The deposit interest rate was lowered in early June. Currently, there are three types of three-year fixed deposit products with interest rates of 3%, 3.15%, and 3.25% depending on the starting amount. However, there are no more credit limits available now, and it is expected that some will be released next Monday. The credit limit is tight and needs to be seized."
In addition, since last year, the interest rate of savings treasury bond has also continued to decline. The latest notice on the issuance of savings treasury bond shows that the annual interest rate of the three-year savings treasury bond sold since June 10 is 2.95%, the first time that the interest rate has fallen below 3% in recent years.
Flexible asset allocation
Several industry insiders have pointed out that after large commercial banks lowered their deposit listing rates, it is reasonable for small and medium-sized banks to follow suit. After this adjustment, the pressure on bank interest rate spreads is expected to be further released, opening up space for reducing physical financing costs.
Liang Si, a researcher at the Bank of China Research Institute, stated that banks can flexibly adjust deposit interest rates based on changes in market supply and demand. On the one hand, it indicates that the market-oriented adjustment mechanism for deposit interest rates continues to be effective; On the other hand, it is conducive to maintaining market competition order, maintaining stable bank debt costs and net interest margins, thereby achieving sustainable and stable operations, and better supporting the development of the real economy.
In addition, several bank wealth managers suggest that in the downward channel of deposit interest rates, investors should flexibly allocate assets and reasonably allocate financial products such as deposits, insurance, wealth management, and funds based on their own fund needs and risk tolerance preferences, in order to achieve maximum returns under controllable risks.
