China Merchants Bank cuts RMB deposit rates

On May 20, China Merchants Bank cut the RMB deposit interest rate on May 20, of which the demand interest rate was reduced by 5 basis points to 0.05%; the regular deposit and withdrawal three-month, half-year, one-year and two-year periods were reduced by 15 basis points, respectively 0.65%, 0.85%, 0.95% and 1.05%; the regular deposit and withdrawal three-year and five-year periods were reduced by 25 basis points, to 1.25% and 1.3% respectively. The three terms of regular zero deposit and withdrawal, whole deposit and zero withdrawal, and deposit and interest were reduced by 15 basis points. The 7-day notice deposit interest rate was reduced by 15 basis points to 0.3%. < br > < img src = "https://flash-scdn.jin10.com/fcd9d274-5612-42de-9be2-eb6ac282dae8.jpg" referrerpolicy = "no-referrer" >