Zhongxin Finance, April 28 (Zuo Yukun) A large-denomination certificate of deposit that guarantees principal and interest guarantees is a "financial guarantee item" for many investors.
However, recently, the interest rates of deposit products represented by medium and long-term large-denomination certificates of deposit have also been lowered.
The interview of Zhongxin Finance and Economics found that since April 25, many large state-owned banks and joint-stock banks have lowered the interest rates of large-denomination certificates of deposit of different maturities, and large-denomination certificates of deposit are currently very popular.
Data map: RMB is placed in an orderly manner.
Photo by Ai Qinglong
Several banks cut fixed deposit rates
"The bank staff mentioned to me that the fixed deposit interest rate was going to drop before. I thought it was a performance booster, so I didn't pay much attention to it. As a result, Bank on the 25th called again and said that it had dropped, so I asked other banks to see the situation. Do you still want to save?" Ms. Cai, who is in Beijing, told Zhongxin Finance.
The annual interest rate of the three-year time deposit of Bank of China that Ms. Cai had learned about dropped from 3.25% to 3.15%.
"I originally thought about waiting for another month's salary to be saved together, but I lost more than 90 yuan in one day." Ms. Cai said.
Zhongxin Finance inquired about the mobile banking of Bank of China and found that the interest rate of 3-year time deposits with a minimum deposit of 20,000 yuan was lowered to 3.15%;
Among the large-denomination certificates of deposit products, the interest rate of 3-year products with a minimum deposit of 200,000 yuan is only 3.25%.
Bank large-denomination certificates of deposit products.
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The customer service of ICBC confirmed to Zhongxin Finance that the deposit interest rate was indeed lowered on April 25.
"Large-denomination certificates of deposit generally take three years to deposit. The interest rate used to be 3.35%, but now it is 3.25%."
Staff at China Construction Bank also said the rate was cut by one percentage point.
At present, the annual interest rate of the three-year time deposit has been reduced from 3.25% to 3.15%, and the two-year time deposit has been reduced from 2.6% to 2.5%.
The interest rates on some maturity certificates of deposit of the Agricultural Bank of China have also been adjusted.
At present, for large-denomination certificates of deposit starting at 200,000 yuan, the three-year annual interest rate has dropped from 3.35% to 3.25%, and the two-year annual interest rate has dropped from 2.7% to 2.6%.
Earlier, the large-denomination certificates of deposit products of many joint-stock banks have also changed.
Compared with the downgrades of the four major banks of around 10 basis points, the magnitude is relatively larger.
"The main adjustment of the bank this time is the 3-year and 2-year fixed deposit interest rates. The fixed deposit interest rates for 5-year and above, 1-year and below have basically remained unchanged." A staff member of a state-owned bank told Zhongxin Finance and Economics , the 5-year and 3-year fixed deposit interest rates of some banks are the same or even inverted, so the most popular products in general business management are also 3-year products.
Large deposit limit is tight and sold out
The interview of Zhongxin Finance and Economics found that, at present, the pace and extent of adjustment vary between banks, and even between different branches of the same bank.
Some respondents said that there may be different interest rates displayed between different bank outlets and online and offline business processing. Even if there is a familiar account manager, you can try to get the interest rate deposit before the following adjustment.
"my country has formally realized the marketization of deposit interest rates, and banks have greater autonomy in the pricing of deposit interest rates." Dong Ximiao, chief researcher of China Merchants Union Finance, explained to Zhongxin Finance Business development strategies, judgments on future liquidity and other factors, and adopt differentiated strategies.
"The same bank may adopt different deposit pricing strategies at different stages and different branches of the same bank. Therefore, this is a reflection of the deposit interest rate market." Dong Ximiao said.
A bank displays sold-out large-denomination certificates of deposit products.
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But the same is that the large deposits of each bank are very tight.
"Because there is a certain change in the interest rate markup, the fixed deposit products of CCB have been adjusted at present. There is no big problem with one-year deposits. Long-term two or three-year deposits have to wait a little, and there are no products with rising interest rates." A CCB representative The staff told Zhongxin Finance that it is uncertain how long the relevant business will be suspended, but it should not be too long.
ICBC staff said that the deposit limit is in a limited state.
Online processing depends on whether there is a quota available. Offline outlets may have quotas issued every day. It is recommended to consult each outlet for details.
The staff of the Agricultural Bank also said that the quota for large-denomination certificates of deposit is very tight recently, and it can be said that there is almost no quota, and the specific issuance time can only be notified by the head office.
Data map: People's Bank of China.
Photo by China News Agency reporter Zhang Xinglong
The downward trend of deposit interest rates is an inevitable trend
"Affected by internal and external complex factors, the decline of risk-free returns in the market will be a long-term trend. In the long run, the decline in deposit interest rates is an inevitable trend." Dong Ximiao said that with the gradual decline of deposit interest rates, the cost of bank liabilities will be reduced. It will help to keep the interest rate spread basically stable, thereby improving the willingness and ability of banks to increase credit supply and transfer profits to the real economy.
According to the 2021 performance data disclosed by some banks, whether it is a large state-owned bank or a joint-stock bank, the net interest margin has declined to a certain extent, and the downward pressure on bank interest margin this year is still relatively large.
At present, strengthening debt management and alleviating pressure on interest margins has also become the focus of many banks this year.
Analysts generally believe that large-denomination certificates of deposit are actually a liability for banks.
With the in-depth implementation of new asset management regulations, inter-bank liabilities continued to decrease, and the proportion of deposits further increased.
The reduction of interest rates will help reduce the cost of debt of banks, thereby further reducing the cost of loans and improving the ability of banks to make profits to the real economy.
On January 18, Liu Guoqiang, deputy governor of the central bank, said at the press conference of the State Council Information Office that if the deposit interest rate is too high, it will be difficult to reduce the interest rate of loans and the financing cost of enterprises. Great efforts will be made to maintain the order of the deposit market, stabilize the cost of bank liabilities, and promote the comprehensive financing cost of enterprises, especially small and micro enterprises, to be stable and moderate."
"For individuals, if there are more products such as medium and long-term deposits in asset allocation, the yield may decline." Dong Ximiao reminded that investors should balance the relationship between risk and return.
Lou Feipeng, a researcher at the Postal Savings Bank, also said that considering that the interest rate of large-denomination certificates of deposit of the same term is still significantly higher than that of time deposits, in order to reduce the financing cost of the real economy and the banking industry needs to reduce the cost of debt, there is still a certain amount of reduction in the interest rate of large-denomination certificates of deposit. space.
At the same time, some analysts pointed out that after the interest rate on the deposit side falls, usually the interest rate on the loan side corresponding to the bank will also drop to a certain extent, and the interest payable by residents to apply for a mortgage and other loans from the bank will also decrease accordingly.
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