The interest rate on bank deposits has soared to 6%, and the interest rate on deposits of 1 million for 3 years is 180,000?

Interest rates have been cut again, and the era of relying on bank interest has really passed.

The listed interest rates of 1-year, 2-year, 3-year and 5-year time deposits will be reduced by 10BP, 20BP, 25BP and 25BP respectively, and the adjusted interest rates will be 1.45%, 1.65%, 1.95% and 2% respectively.

The 3-year fixed deposit listed interest rate fell below 2% and entered the 1 era, which is similar to the interest rate level of Yu Yu Bao. Yue Bao can also be deposited and withdrawn at any time, which is very convenient, but the bank has to deposit it for three years.

This is the third time that major state-owned banks have collectively cut interest rates this year, the last two were in June and September, that is, they were cut every three months, and the frequency is very high.

If a deposit of 100,000 yuan is deposited for 3 years in June, the interest rate is 2.45%, then the interest is 7,350 yuan, and in December, the interest rate becomes 1.95%, the interest is 5,850 yuan, and the interest is 1,500 yuan less.

In fact, at the beginning of December, some small and medium-sized banks have lowered their deposit interest rates, such as Beihai Rural Credit Co., Ltd. from December 15, the two-year, three-year and five-year fixed deposit interest rates have been reduced by 15BP, 50BP and 55BP, and the five-year interest rate has dropped directly from 3.35% to 2.8%, which is greater than that of large state-owned banks.

In addition, banks such as Guang'an Hengfeng Village Bank and Zhongmu Zhengyin Village Bank have lowered their three-year and five-year fixed deposit interest rates, and their efforts are not small.

However, this is only a small downward revision. It is expected that after the large banks cut the deposit interest rate this time, joint-stock banks and small and medium-sized banks will follow suit, and the downward trend is inevitable.

Experts predict that the central bank will continue to cut the reserve requirement ratio and interest rates next year, which means that the interest on deposits will be less and less. At the same time, it also tells depositors a truth, save money as soon as possible, otherwise they will lose thousands or tens of thousands of interest a year.

Some people say that the interest rate on our deposits has been lowered again and again? Some people say that this is to drive money out, stimulate consumption, and promote economic development.

Consumption is one of the troika of the mainland's economy, and this year, in particular, it has shouldered a heavy responsibility. Exports were sluggish due to insufficient external demand, which dragged down economic growth in the third quarter. The investment is not as big as it used to be.

But in reality, consumption is not stimulated, but by increasing income. Many middle-aged and elderly people live a tight life, dare not consume, and have no investment channels, so they rely on a little bank interest. Even if interest rates are cut, they are not expected to take them out for spending.

For banks, deposits are purchased goods and interest is paid, while loans are sold and interest is charged. The current situation is that there are more and more purchases, and household deposits will increase by 17.84 trillion yuan in 2022 and 14.69 trillion yuan in the first 11 months of this year, which is still not low.

According to data disclosed by the central bank, RMB loans increased by 1.09 trillion yuan in November, a year-on-year decrease of 136.8 billion yuan. Even if lending rates continue to fall, the effect does not seem to be significant.

So what should I do? I can only lower the interest rate on my deposit to save some costs. According to the data of the State Administration of Financial Supervision and Administration, as of the end of the third quarter of this year, the net interest margin (loan interest rate - deposit interest rate) of commercial banks was 1.73%, down 0.21 percentage points from 1.94% in the same period last year.

What is the concept of 0.21 percentage points? 10 billion yuan is 21 million yuan less profit, so how much less profit will be made in a year. If the interest rate of the lender cannot be moved, it can only move the depositor, so it is not easy for depositors to take advantage of the bank.

As the interest rate on deposits continues to fall, is it still necessary to keep money in banks? In fact, for many people, banks are the safest and safest place to go, and they may lose money when they are used for other investments.

Although bank interest rates are getting lower and lower, from December to January every year, small and medium-sized banks will engage in some good start activities, seize this opportunity, choose a bank with a good interest rate, and still be able to get good interest income.

Large banks do not lack deposits, but small and medium-sized banks are different, and it is not easy for them to absorb deposits due to their small number of outlets. In particular, village and township banks have had quite a few problems in recent years, and many depositors are afraid to deposit. Therefore, at the end of the year and the beginning of the year, some small and medium-sized banks will still engage in deposit collection activities.

Huaibin Rural Commercial Bank and Gushi Rural Commercial Bank have raised the interest rate of the whole deposit and withdrawal from 3 months to 3 years, but the magnitude is not large, and the maximum is only 15BP. Guangxi Xing'an Minxing Village and Township Bank raised the interest rates of two "county-exclusive time" deposits of 6 months and 1 year by 30BP and 15BP respectively.

From the end of the year to March next year, the interest rate of the three-year fixed deposit is 3.45% and the five-year interest rate is 3.65%, while the three-year interest rate of the Zhujiang Rural Bank in Pingshan, Shenzhen, is 3.4%, and the five-year interest rate is as high as 3.9%.

The highest is Anhui Xin'an Bank, which has launched a "special deposit", with an annual interest rate of 3.9% for three months, 4% for six months, 4% for two years, and 4.1% for three years. If the deposit reaches more than 50,000 yuan, you can also get an additional 2% interest rate hike coupon, which means that the final interest rate becomes 6%. With an interest rate of 6%, a three-year fixed deposit of 1 million yuan, the interest will be 183,000 yuan.

However, Xin'an Bank responded that there are no related products and offers, and there is no corresponding activity on its APP. According to the Regulations on the Administration of Savings, savings institutions are not allowed to use improper means to absorb savings deposits. This kind of play of interest rate hike coupons is obviously non-compliant, so it may be that it was offline not long after it was launched.

At present, the deposit interest rates given by village and township banks and private banks are not bad. But many people are worried about their safety, but in fact, the exit of village and township banks is accelerating, and 11 village and township banks have been dissolved since the beginning of this year. Of course, the reason for the dissolution is that it has been merged with other banks, and the customers and funds go to the new bank without any loss.

Banks in the mainland are also becoming safer, and the rating results of banking financial institutions in the second quarter of 2023 released by the central bank are: 337 of the 3,992 commercial banks in the country with medium and high-risk banks, including 191 rural cooperative institutions (including rural commercial banks, rural cooperative banks, and rural credit cooperatives) and 132 village and township banks.

As long as the bank has deposit insurance, there is no need to worry, and deposits within 500,000 yuan can be compensated. If you are really worried, then you can also choose a city commercial bank, relatively speaking, the interest rate is not so low, and it is relatively safe.