OREANDA-NEWS. June 9, 2012. The PBC has decided to cut RMB benchmark deposit and loan interest rates for financial institutions as of June 8, 2012. The one-year RMB benchmark deposit and loan interest rates will be lowered both by 0.25 percentage points. Adjustments are made correspondingly to benchmark interest rates on deposits and loans of other maturities and to deposit and loan interest rates on personal housing provident fund.

As of the same day, the upper limit of the floating range for deposit interest rates will be 1.1 times the benchmark interest rate and the lower limit of the floating range for loan interest rates 0.8 times the benchmark interest rate.

Adjustment of RMB Benchmark Deposit and Loan Interest Rates

(percent)

Item

Rate(after adjustment)

1.Household and corporate deposits

 

1.1 Demand deposits

0.40

1.2 Time deposits of lump-sum deposit and withdrawal

 

3-month

2.85

6-month

3.05

 1-year

3.25

2- year

4.10

3-year

4.65

5- year

5.10

2.Loans

 

6-month

5.85

1-year

6.31

1 to 3-year

6.40

3 to 5-year

6.65

Over 5-year

6.80

3. Personal housing provident fund loans

 

Below 5-year (inclusive)

4.20

Above 5-year

4.70