On December 3, it was observed that the Bank of Communications (BANKCOMM) mobile app displayed "No large CDs available for purchase" under its best-selling deposit section, with only transferable CDs currently offered.
A BANKCOMM customer service representative responded, "Our bank issues large CDs in limited quantities. If none are shown online, they are indeed sold out. We recommend checking with nearby branches for remaining inventory."
Exclusive information obtained from BANKCOMM relationship managers in multiple regions revealed that the bank is currently offering exclusive large CDs only to clients in select areas, primarily with tenures of one year or less. For instance, a Beijing-based BANKCOMM relationship manager confirmed the availability of a one-year personal large CD exclusively for Beijing clients, with a minimum purchase of CNY 200,000 and an annual interest rate of 1.40%.
The manager added, "We only offer one-year large CDs, which require opening an account in Beijing. For other tenures, we provide preferential rates on fixed deposits. New funds can secure a three-year fixed deposit rate of 1.75%, while existing funds qualify for 1.65%. Clients must contact their relationship manager for assistance."
Recent discussions online have highlighted that "major state-owned banks have halted sales of five-year large CDs." Multiple relationship managers confirmed that five-year large CDs have been unavailable for some time. One noted, "The concept of large CDs has faded in recent years as their rates align closely with regular fixed deposits."
Regarding market rumors that Industrial and Commercial Bank of China (ICBC) raised the threshold for three-year large CDs to CNY 1 million, ICBC’s app currently lists two products: the 2025 Phase 3 three-year large CD (minimum CNY 200,000) and the 2025 Phase 4 three-year large CD (minimum CNY 1 million), both offering a 1.55% rate. The latter is already sold out.
An ICBC insider clarified, "Both products share the same rate but differ in minimum deposits. The lower threshold (CNY 200,000) faces higher demand, making it harder to secure, while the higher threshold (CNY 1 million) improves success odds."
Similarly, Agricultural Bank of China offers two three-year large CDs: Phase 39 (minimum CNY 200,000) and Phase 40 (minimum CNY 5 million), both yielding 1.55% annually.
Dong Ximiao, Chief Researcher at Zhaolian Finance, explained that amid declining market rates, long-term deposit products like large CDs have become sought-after yet scarce. Banks adjust thresholds and stabilize rates to manage high-cost liabilities and maintain stable interest margins.
"Some banks reserve scarce long-term deposit quotas as exclusive perks for premium clients or to attract high-value customers from competitors. For these clients, the 1.55% rate is secondary—security, stability, and tailored services matter more," Dong noted.
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