According to reports from Jin10 Data, on May 20, several banks, including ICBC, Bank of China, and China Construction Bank, have successively lowered the interest rates for demand deposits, time deposits, and notice deposits. As the wave of interest rate cuts on bank deposits continues, large-denomination certificates of deposit, which were once seen as a tool for attracting deposits, are gradually falling out of favor.
Recently, while many banks have lowered the interest rates on time deposits, they have also simultaneously reduced the interest rates on large-denomination certificates of deposit. Currently, large-denomination certificate products are about to fully enter the '1 era.'