Intensive cuts, small and medium-sized banks' long-term deposit rates enter the "1" range.

Since March, small and medium-sized banks in Xinjiang, Yunnan, Shanghai, and other places have been lowering their fixed deposit interest rates intensively. This adjustment covers various types of banks, including city commercial banks, rural cooperative banks, village banks, and private banks, with rate cuts ranging from 5 to 80 basis points. This adjustment presents characteristics of coverage across all terms and significant rate cuts by some banks. In particular, the interest rates for medium to long-term fixed deposits such as two-year, three-year, and five-year terms have generally fallen below the "2% mark, entering the "1% range.