According to reports from Jinshi Data, on May 20, several banks, including ICBC, Bank of China, and China Construction Bank, successively lowered the interest rates on demand deposits, time deposits, and notice deposits. As the trend of banks lowering deposit interest rates continues, large time deposit products, once regarded as a tool for attracting deposits, are gradually losing their appeal.
Recently, while many banks have lowered the interest rates on time deposits, they have also simultaneously reduced the interest rates on large time deposit products. Currently, large time deposit products are about to fully enter the '1 Era'.