Recently, it was reported that a number of banks have "removed the shelves" of 3-year and 5-year certificates of deposit. The Yangtze Evening News/Purple Cow News reporter checked the bank's website, APP and visited offline outlets and found that many banks were indeed "out of stock" with 5-year large-amount certificates of deposit and "in short supply" with 3-year certificates.
Photo source: Visual China
It is reported that a large-denomination certificate of deposit is a kind of large-denomination certificate of deposit issued by a bank to an individual or institution, and is a general deposit. Terms include 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 5 years, etc. The starting point for individual subscription is 200,000 yuan, because the "threshold" is high, and the interest rate of large-amount certificates of deposit is generally higher than the interest rate of fixed deposits of the same period.
Recently, the reporter visited and found that the 5-year large-amount certificates of deposit of many banks were "sold out", and the 3-year products were relatively rare. At an offline branch of a bank, a staff member said that the bank currently has no large-denomination certificate of deposit products with a deposit period of 3 years or 5 years, only a one-year product with an annual interest rate of 2.1% and a two-year product with an annual interest rate of 2.32%.
On the APP of a joint-stock bank, a reporter from Yangtze Evening News/Purple Cow News found that the bank currently does not have 3-year and 5-year certificates of deposit. There are only large-denomination certificates of deposit with a maturity of less than 2 years, of which the annual interest rate of 2-year large-denomination certificates of deposit corresponding to 200,000 yuan is 2.15%, the annual interest rate of 1-year is 2%, and the annual interest rates of 6-month, 3-month and 1-month are 1.9%, 1.7% and 1.65% respectively. The maturity of large-denomination certificates of deposit starting from 500,000 yuan is only available for 2 years, 1 year and 6 months, and the corresponding annual interest rates are 2.15%, 2% and 1.9%. These three grades are the same as the interest rates of large-denomination certificates of deposit starting from 200,000 yuan with the same maturity. In other words, 500,000 yuan did not get a higher income because the amount of capital was larger than that of 200,000 yuan. However, with an annual interest rate of 1.65% for fixed deposits of the same maturity, large-denomination certificates of deposit still have an advantage.
On the online of another joint-stock bank, the reporter found that there are still personal large-amount certificate of deposit products with a term of 3 years, with a starting point of 200,000 yuan and an annual interest rate of 2.60%.
At the offline branch of a small bank, the staff told reporters that large-value certificates of deposit products are not always issued, and are generally issued once a week. However, it is certain that the bank's current large-denomination certificates of deposit do not include 3-year and 5-year products. The reporter left his contact information, and a day later, the staff member informed the reporter that the notice of large-value certificates of deposit had been issued, but only for 1 month, 3 months and 6 months. The annual interest rates are 1.55%, 1.75% and 1.95% for 6 months.
According to market analysts, due to their safety and stability, the income is better than that of ordinary deposits, and large-value certificates of deposit have been very popular with depositors since their launch. However, since last year, the interest rate on large certificates of deposit has also undergone several rounds of reductions along with the interest rate on ordinary deposits. Recently, medium- and long-term large-denomination certificates of deposit have been "out of stock", mainly due to the pressure on banks' net interest margins. At present, it may be temporarily suspended, and it will be dynamically adjusted according to the liquidity situation and asset-liability structure.
Intern Wenxuan Wang
Yangtze Evening News/Purple Cow News reporter Ma Yan
Proofreading Tao Shangong