A number of major banks will cut deposit interest rates tomorrow, and the time deposit listing interest rate of major banks will be reduced by 25 basis points

On October 17th, a number of national banks will cut the RMB deposit listing interest rate again from October 18th. The cut in deposit interest rates involves various types such as demand and term. An employee of a large bank in eastern provinces told reporters that the bank will cut the current deposit listing interest rate by 5bp to 0.1% and the time deposit listing rate by 25bp. Other big bankers added that the three-month, one-year, three-year and other major time deposit listing rates of their banks have been reduced by 25bp, and the 7-day notice deposit interest rate has been reduced by 25bp. The reporter found that compared with the previous round of reduction in July, the time deposit listing rate has been reduced by a larger margin, and the previous round of time deposit listing rate has been reduced by 10bp and 20bp according to different terms.