Our country is a big country of savings. People have the habit of saving money as soon as they make money, and many people think that depositing money in a bank is the safest way. According to data released by the central bank, my country's total residents' savings reached 93.44 trillion yuan at the end of 2020, and increased by 6.68 trillion yuan in the first quarter of 2021. Now the total residents' savings have exceeded one hundred billion yuan.

People’s enthusiasm for saving money has a lot to do with bank deposit interest rates. Although the deposit interest rates in the past have been slowly declining year by year, the interest rates are still relatively high overall. You can earn a lot of interest by depositing regularly for a few years, so people like to deposit money in banks when they are not in a hurry to use money. .

Especially many elderly people do not have a particularly large demand for consumption, but prefer time deposits. However, starting in 2021, deposit interest rates have dropped significantly, and it will not be easy for these depositors to make more money from banks.

Deposit interest rates have been significantly reduced

On June 1, 2021, the central bank announced that the working meeting of the interest rate self-regulatory mechanism had adopted a plan to optimize the self-regulatory management of deposit interest rates. On the 21st, the bank deposit interest rate pricing reform kicked off.

The main content of this reform is that the central bank will no longer implement a unified benchmark interest rate cut, but will allow major banks to lower deposit interest rates according to the situation. As soon as the news was announced, ICBC directly reduced the interest rate on three-year large-denomination certificates of deposit from 3.85 to 3.25. Some banks have cut interest rates even further. For example, Zhongguancun Bank has reduced the original five-year fixed deposit interest rate from 4.875 to 4.

The decline in deposit interest rates has indeed reduced people’s willingness to deposit. Data released by the central bank shows that in July 2021, household deposits decreased by 1.36 trillion yuan. Depositors are also confused about the central bank's new regulations. Why is it cutting interest rates? Is it to discourage people from continuing to save money? In fact, for the central bank, having too many residents' deposits is not necessarily a good thing.

The increase in deposits means that society has insufficient consumption power

One of the reasons why the central bank "forces" people not to deposit money in banks is to want people to withdraw money for consumption. Now our country very much needs to stimulate domestic demand and achieve internal economic circulation, because the foreign market environment is still relatively chaotic.

However, people have developed the habit of saving money over the years and do not want to actively consume. Moreover, the employment environment and market environment in 2021 are not very good. People feel that saving more money can cope with the crisis. This has led to the The consumption power of society has declined. Data released by the National Bureau of Statistics show that my country’s total retail sales of consumer goods in 2019 was 41,164.9 billion yuan, while in 2020 it dropped to 39,198.1 billion yuan.

Even in 2021, when the economy has fully recovered, people's consumption power has not increased significantly. The total retail sales of social consumer goods in July 2021 only increased by 8.5, while it was still 33.8 at the beginning of the year. Therefore, some people say that the overall consumption power of my country, a country with 1.4 billion people, is not as good as that of the more than 300 million people in the United States.

Therefore, the central bank wants people not to actively save money, but to actively consume. If the deposit interest rate is lowered, it will make people feel that no matter how long they save the money, they will not make much money. Will save less money. Of course, some people will definitely think that I just don’t spend money and just want to keep it in the bank. This group of people who still want to continue saving money are also of great help to the bank.

The deposit interest rate has dropped, which can make up for the bank's losses

The bank was previously willing to give such a high deposit interest rate to depositors, even if the bank held the depositors' money and could invest better It uses money to make money by issuing loans, but this method has not been very effective recently. It is not easy to get back the money loaned by the bank.

First of all, the total amount of overdue credit cards is increasing.

The payment operation status of Q1 2021 released by the central bank shows that as of the end of the first quarter of 2021, the total outstanding credit card credit card overdue for six months has reached 89.22 billion yuan. It is not easy for banks to violently collect credit card debts. If the cardholder does not want to repay, it will become a bad debt. Therefore, if the deposit interest rate is lowered, the interest paid by the bank on the deposit will be much less, and it can make up for the capital hole caused by the overdue credit card as much as possible.

Then the profit margin for real estate-related loans is getting smaller and smaller. Nowadays, our country has extremely strict control over real estate. First, it issued "two red lines" to strictly control the loan limit issued by banks to real estate companies and individuals. If it exceeds the limit, it will be fined by the China Banking and Insurance Regulatory Commission. Therefore, many banks have recently suspended second-hand lending. Home loan. Real estate companies are also having a hard time. If they want to get bank loans and financing, they must first reduce their debt ratio and maintain their loan qualifications. Therefore, many real estate companies are now busy selling houses first and borrowing less loans.

With fewer loans, the bank's money can only sit in the warehouse and cannot make money. If you continue to pay high deposit interest rates, you will spend a lot of money.

However, the central bank does not encourage saving, and we do not need to withdraw all of it for consumption. We only need to withdraw part of it for rational consumption. First, although the deposit interest rate has dropped a lot, it is not completely gone. If you really don’t need money urgently, it is more appropriate to deposit it in a bank. Second, this way you can avoid running out of money until you need money. Nothing can be done.