The PBC has decided to raise RMB benchmark deposit and loan rates of financial institutions as of Oct. 20, 2010. The one-year benchmark deposit rate is raised from the current level of 2.25 percent to 2.50 percent, up 0.25 percentage points. The one-year benchmark loan rate is raised from the current 5.31 percent to 5.56 percent, up 0.25 percentage points. Benchmark rates on deposits and loans of other maturities are also adjusted (see the table below).
Adjustment of RMB Benchmark Deposit and Loan Rates
Unit: percent
|
Rate(before adjustment) |
Rate(after adjustment) |
|
|
I. Household and corporate deposits |
||
|
1.Demand deposit |
0.36 |
0.36 |
|
2.Time deposit of lump-sum deposit and withdrawal |
||
|
3-month |
1.71 |
1.91 |
|
6-month |
1.98 |
2.20 |
|
1-year |
2.25 |
2.50 |
|
2- year |
2.79 |
3.25 |
|
3-year |
3.33 |
3.85 |
|
5- year |
3.60 |
4.20 |
|
II. Loans |
||
|
6-month |
4.86 |
5.10 |
|
1-year |
5.31 |
5.56 |
|
1 to 3-year |
5.40 |
5.60 |
|
3 to 5-year |
5.76 |
5.96 |
|
Over 5-year |
5.94 |
6.14 |
