TechFlow, May 20 — According to Jinshi Data, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank have all announced reductions in RMB deposit rates, with the largest cut reaching 25 basis points. The demand deposit rate was lowered by 5 basis points to 0.05%. The time deposit rates for fixed-term lump-sum deposits were reduced by 15 basis points for terms of three months, six months, one year, and two years, now standing at 0.65%, 0.85%, 0.95%, and 1.05% respectively. The three-year and five-year terms were both cut by 25 basis points, now at 1.25% and 1.3% respectively.
Add to Favorites
Share to Social Media
