The six major state-owned banks announced that starting tomorrow, interest will be accrued on the balance of their real-name digital RMB wallets; the current demand deposit rate is 0.05%.
PANews reported on December 31 that six major state-owned banks—Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China—issued announcements today stating that starting January 1, 2026, interest will be paid on the balance of digital RMB real-name wallets opened with their respective banks at the banks' current deposit rate, with the interest calculation and settlement rules consistent with current deposit rates. The current current deposit rate is 0.05%. Currently, digital RMB wallets are divided into four categories. Category I, II, and III wallets are real-name wallets, while Category IV wallets are anonymous wallets. Category IV wallets are not included in the banks' "real-name wallet" interest calculation category.
ICBC states that wallet operators will legally withhold and pay interest tax (if applicable). ICBC reminds users that interest is settled on the 20th of the last month of each quarter and credited to their accounts on the 21st. If the account is closed before the interest settlement date, interest will be calculated at the current account interest rate posted on the closure date until the day before closure.
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