The interest rate for large deposits has dropped to below 1%, with multiple banks either suspending or offering inverted rates for five-year terms. It remains difficult to secure a quota for large deposits at some banks.

Recently, a major state-owned bank announced a decrease in the interest rate for renminbi deposits, and other nationwide joint-stock commercial banks quickly followed suit. In response to the situation of high interest rates on large deposits at banks, reporters from First Financial visited several banks in Shenzhen. The staff informed the reporters that after the interest rate cut, the interest rates on large deposits have basically dropped to below "1". Some of the five-year term large deposits have now been discounted or suspended. At the same time, the quota for large deposits at some banks is still in a state of rush purchases.