More than ten banks take turns reducing interest rates. It is better to deposit for 1 year than to deposit for 5 years or gradually disappear.

Previously, First Financial had reported on the phenomenon of extreme term inversion in which several banks experienced situations such as "saving for two years is not as good as saving for one year" and "saving for five years is not as good as saving for one year." Now, with the arrival of a wave of interest rate cuts on deposits, the interest rates for current and medium-term deposits have generally been lowered. Leading institutions such as China Merchants Bank have seen the disappearance of the term inversion between one-year and five-year deposits. Currently, term inversion still exists in small and medium-sized banks. Some industry insiders believe that as smaller banks follow suit with interest rate cuts, the pressure on medium-term deposit rates will increase, and the inversion between short and long-term deposit rates may also decrease or disappear. It is worth noting that the intention of banks to encourage depositors to "save short-term" is still clear. While facing pressure from narrowing net interest margins, banks are reshaping the deposit market landscape through refined pricing strategies.