The annual interest rate refers to the one-year deposit rate, which refers to the ratio of interest amount to deposit principal or loan principal within a certain period. The annual interest is expressed as a percentage of the principal, and the unit is%. Generally speaking, when the central bank expands the money supply, the total supply in loanable funds will increase, the supply exceeds demand, and the natural interest rate will decrease accordingly; On the contrary, the central bank implements a tight monetary policy, reducing the money supply, so that loanable funds's demand exceeds supply, and interest rates will rise accordingly.

I. Interest on major bank deposits is as follows:

1, Bank of China: 0.3% for current deposit, 1.43% for three-month fixed deposit, 1.69% for six months, 2. 1% for one year, 2.73% for two years, 3.575% for three years.

2. Industrial and Commercial Bank of China: interest on demand deposits is 0.3%, and interest on three-month time deposits is 1.43%.

3. China Construction Bank: interest on current deposits is 0.3%, interest on fixed deposits is 3 months 1.43%, 6 months 1.75%, 2. 1% for one year, 2.94% for two years and 3.85% for five years.

4. Bank of Communications: interest on current deposit is 0.3%, interest on fixed deposit is 3 months 1.43%, 6 months 1.69%, 1 year 1.95%, 2.73% for two years, 3.52% for three years and 3.52% for five years.

Second, the basic formula for calculating interest,

1. The basic formula for calculating the interest of savings deposits is: interest = principal * deposit term * interest rate; 2 conversion of interest rate, in which the conversion relationship among annual interest rate, monthly interest rate and daily interest rate is: annual interest rate = monthly interest rate * 12 (month) = daily interest rate *360 (days); Monthly interest rate = annual interest rate/12 (month) = daily interest rate *30 (days);

2. Daily interest rate = annual interest rate /360 (days) = monthly interest rate /30 (days),

3. Starting point of interest-bearing formula: the starting point of interest-bearing for savings deposits is RMB yuan, and no interest-bearing for points below RMB yuan; The interest amount is calculated to the decimal point, and the decimal point is rounded off when actually paid; All other savings deposits, regardless of the duration of deposit, are paid off with the principal at the time of withdrawal, excluding compound interest, except that the current savings are settled on an annual basis and the interest can be converted into principal;

4. Calculation of the deposit period in the interest calculation formula: the deposit period is calculated by counting the head instead of the tail; Regardless of the big month, small month, flat month and leap month, it is calculated as 30 days per month and 360 days per year; If the account opening date is the missing date of the expiration month, the expiration date should be the last day of the expiration month.