The long-term deposit rates of several private banks have fallen to the "1-digit" level.

Recently, many private banks have collectively lowered the interest rates on medium to long-term fixed deposits. Previously, many medium to long-term fixed deposit products with interest rates in the "2% range" have now dropped to the "1% range", and some banks have even directly removed medium to long-term fixed deposit products from their offerings. Experts interviewed believe that the advantage of high-interest deposits in private banks is gradually diminishing, leading to faster industry transformation. As a result of the changes in interest rates, the logic of household savings allocation has clearly shifted, and private banks urgently need to break away from the homogenization dilemma and seek long-term development through differentiation.