The long-term deposit interest rates of many small and medium-sized banks have dropped to a single-digit percentage.

Since March, many city commercial banks, rural commercial banks, and rural cooperative banks have successively lowered their fixed deposit interest rates. The 2-year, 3-year, and 5-year fixed deposit rates of small and medium-sized banks have generally fallen to below 2%, officially entering the "1-digit" era. Lou Feipeng, a researcher at China Postal Savings Bank, analyzed in an interview with reporters that this is mainly due to the pressure of narrowing net interest margins and the continuous decline in loan rates. It also reflects that the banking industry has entered a stage of refined liability management, guiding funds to shift towards the medium and short term through interest rate inversion. At the same time, this marks the accelerated process of marketization of deposit interest rates, and small and medium-sized banks are transitioning from extensive deposit gathering to differentiated competition.