2014-12-03

Deposit Rates Go Up in China

As part of the PBOC's rate cut, the banks are allowed to offer 120% of the benchmark deposit rate, up from 110%. Although rates were cut, banks can offer higher deposit rates thanks to the expanded limit. In Guangzhou, several banks now offer these higher rates for larger CDs. A few branch offices of the big state owned banks are offering the higher rates, but they quietly changed their policy. In some cases, savers need to ask for the more favorable rates.

21st CBH: 广州五大行动了:存款利率可上浮20%

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