[Many private banks raise deposit interest rates] September 18th: In recent years, under the pressure of net interest margin, operations such as lowering deposit interest rates and removing medium and long-term deposit products have become mainstream trends in the banking industry. Recently, reporters discovered that many private banks have raised interest rates on some deposit products. WeBank raised the three-year deposit interest rate from 1.6% to 1.75%, a 15 basis point increase. Currently, the latest annual interest rates for WeBank's lump sum time deposits for 5 years, 3 years, 2 years, 1 year, 6 months, and 3 months are 1.6%, 1.75%, 1.6%, 1.5%, 1.3%, and 1.1% respectively. Among them, the 5-year and 3-year fixed deposit interest rates were inverted. In addition, many private banks have also re-launched medium and long-term deposit products. For example, Sushang Bank recently issued a 5-year large-denomination certificate of deposit with an interest rate of 1.85%, and a 3-year large-denomination certificate of deposit with an interest rate of 1.95%. Previously, in June, many private banks, including Beijing Zhongguancun Bank, Hunan Sanxiang Bank, Yilian Bank, etc., removed deposit products such as five-year time deposits from their shelves. Tian Lihui, a professor of finance at Nankai University, said that many private banks have recently bucked the trend and adjusted their deposit products, which is a phased and structural operation. However, due to the narrowing of net interest margins, reducing high-cost liabilities is still a mainstream measure for banks.