Several private banks have removed 3-year and 5-year fixed-term deposits from shelves.

Zhongguancun Bank recently announced that it will temporarily remove personal and corporate fixed-term deposits with a maturity of 3 years from May 30th. It has been found that currently, several private banks' apps have temporarily stopped selling 5-year and 3-year fixed-term deposit products. Specifically, Jilin Yilin Bank, Weihai Lanhai Bank, Hunan Sanxiang Bank, Zhejiang Wangshang Bank, Shanghai Huarui Bank, Jiangsu Sushang Bank, and Beijing Zhongguancun Bank apps are temporarily unable to purchase 5-year fixed-term deposit products, with Yilin Bank and Lanhai Bank showing the products as "sold out", while other bank apps do not display relevant products. In addition, Yilin Bank and Lanhai Bank apps are temporarily unable to purchase 2-year fixed-term deposit products, with the products showing as "sold out". Lanhai Bank and Huarui Bank apps are unable to purchase 1-year fixed-term deposit products, with Lanhai Bank showing the product as "sold out" and Huarui Bank's page not displaying relevant products. Industry insiders believe that the withdrawal of high-interest rate deposit products by private banks is related to the continuing decline in net interest margins, and the withdrawal of medium and long-term deposits can control the overall interest payment rate.