Cancel, unpublish, sold out. 5-year fixed deposit is being phased out.

Recently, the announcement by a rural bank to explicitly cancel the 5-year term deposit has attracted widespread attention from depositors. The end of the year and the beginning of a new year is a good time for banks to attract deposits. In the past, some small and medium-sized banks facing great pressure to attract deposits often increased the interest rates of 3-year and 5-year term deposits in stages to enhance their competitiveness in attracting deposits. In recent years, under the pressure of continuously shrinking net interest margins, small and medium-sized banks have not only changed their tactics, but have also directly stopped offering 5-year or even 3-year term deposits. Long-term deposit products have become scarce in this "deposit attracting peak season".