Large-time deposit interest rates entering single-digit territory, and a massive amount of deposits reaching maturity causes customers to switch banks.

At the beginning of 2026, the interest rates for large deposits are accelerating into the era of "single-digit" numbers. The interest rates for products with a term of less than one year issued by most banks have generally fallen below 1%, and some are even lower than the yield of money market funds for the same period; the interest rates for three-year terms are mostly below 2%. At the same time, the structure of product terms is accelerating towards shorter durations, with five-year term varieties almost disappearing, and some products have increased their minimum deposit thresholds to hundreds of thousands of yuan. On the other hand, institutions estimate that approximately 75 trillion yuan of deposits will mature in 2026. A reporter's investigation found that many interviewed depositors have not turned to the equity market when faced with maturing funds, but continue to choose bank deposits and seek relatively higher returns by transferring deposits between different banks, forming a "relocation" of deposits within the banking system. Faced with the pressure of deposit outflow, banks have launched a "deposit defense war": some banks have temporarily raised interest rates to around 2% to attract funds to stay, while more institutions are turning to competition through refined services, enhancing customer stickiness through pre-reminder mechanisms, customized solutions for each account, and asset enhancement activities.