Recently, national bank interest rates have generally been lowered. In order to earn slightly higher interest income, many people have started depositing their money in small banks. Some young people even go to remote areas specifically to deposit money and share their “special forces-style” saving strategies online. So, is there any risk in depositing a large amount of funds in small banks?
In September of last year, state-owned banks were the first to start lowering deposit interest rates. By the second quarter of this year, many small and medium-sized banks also began to follow suit and lower their rates. The deposit interest rates of the vast majority of small and medium-sized banks nationwide have noticeably decreased. After this round of rate cuts, the average one-year deposit interest rate is around 1.7%, while the three-year and five-year deposit interest rates average around 2.6%. In other words, deposit rates are generally below 3%.
However, against the backdrop of overall rate cuts in the banking sector, there are still a few small banks (mainly city commercial banks) that can offer relatively higher rates. For example, the interest rate on a three-year large-sum deposit certificate can reach 3%, and the interest rate on a five-year large-sum deposit certificate can reach 4%. In the current low-rate environment, which banks can offer high rates has become a popular topic online. Many people are eager to obtain these high-rate large-sum deposit certificates from small banks, even if it means traveling to another city.
Under the current regulatory environment that encourages downward interest rates, some small banks that still offer high-interest deposits face certain regulatory pressures. Therefore, these banks do not openly promote their high-interest rate products on a large scale, and the product information only circulates within a small scope. Additionally, the cross-regional operations of city commercial banks are restricted, and internet deposit services were suspended two years ago. As a result, the deposit products of these city commercial banks are mainly limited to their local areas.
For many people from other regions, if they want to purchase these high-interest deposits from small banks, they have to make a special trip to the local area. Typically, the starting point for a large-sum deposit certificate is 200,000 yuan. Looking at a five-year deposit, compared to the average market rate, a 200,000 yuan large-sum deposit certificate from a city commercial bank can earn an additional annual interest income of approximately 3,000 yuan, totaling around 15,000 yuan over five years. The higher the deposit amount, the greater the interest difference. Therefore, many people consider the interest difference worthwhile and see it as a reason to embark on a “special forces-style” deposit journey.