Multiple small and medium-sized banks announce reductions in deposit listing interest rates, focusing on high-cost products.

MetaMuskRat · 2026-04-08T03:01:34+00:00

In April, many small and medium-sized banks lowered their deposit interest rates by 5-30 basis points. Analysts believe this is due to the end of the "Opening Red" period, and banks need to control their liability costs. It is expected that more banks will follow suit.

MetaMuskRat

2026-04-08 03:01:34

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People’s Finance Network, April 8—At the start of April, several small and medium-sized banks announced a reduction in their deposit listed interest rates. The cut ranges from 5 to 30 basis points. “With ‘opening-the-drawer success’ over, the banking industry needs to refocus on managing liability costs. At this time, choosing to lower deposit rates can reduce deposit costs and optimize the liability maturity structure.” Wang Pengbo, chief analyst at BoTong Consulting, told a reporter from The Securities Times. This round of small and medium-sized banks lowering deposit rates is also concentrated on high-cost products such as three-year and five-year terms and demand deposits under agreement. “We expect more small and medium-sized banks to follow by lowering the annualized interest rates on high-cost deposit products afterward,” Wang Pengbo said.

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