Changshu Rural Commercial Bank Offers 5-Year Jumbo Deposits at 1.7% Yield, Minimum RMB 200,000

Changshu Rural Commercial Bank began selling a five-year personal jumbo deposit certificate on August 6, 2026, under the product name "Changnong 2026 Personal Jumbo Deposit Certificate". The minimum deposit is RMB 200,000, with a total issue quota of RMB 50 million and an annualized interest rate of 1.7%. This marks the first five-year product offered by a small or mid-sized local bank in the current wave of jumbo deposit certificate issuance.

Before this, state-owned large banks and several joint-stock banks had already resumed five-year jumbo deposit certificate businesses. The rate on Changshu Rural Commercial Bank's five-year product is 10 basis points higher than comparable products from state-owned banks, but lower than those from joint-stock banks. Meanwhile, some other local small and mid-sized banks have recently launched a flurry of jumbo deposit certificates, but mostly with short- to medium-term maturities, the longest not exceeding three years.

The pricing of Changshu Rural Commercial Bank's five-year jumbo deposit certificate breaks the market convention that local small and mid-sized banks generally offer deposit rates higher than those of large and medium-sized banks. The issue quota is limited, and the product is only available to a specific customer base. The bank has already announced the sale date and basic terms in a notice, and the relevant subscription process has been initiated as planned.