After the multi-village bank followed up with the reduction of the deposit interest rate, the deposit rate for some 5-year periods was still as high as 4%.

Fu Sui Shentong Village Bank, Yangcheng Sanhe Village Bank, Cangwu Shentong Village Bank, and many other village banks issued a notice on the adjustment of RMB deposit interest rates, lowering the interest rates for demand deposits and some time deposits. What is remarkable is that unlike large state-owned banks and joint-stock banks, the one-year to five-year deposit rates are generally lower than 3 percent, many village banks still have three-year and five-year deposit rates higher than 3 percent, and many village banks have five-year deposit rates as high as 4 percent. (Securities Daily)