Why is the interest of Haian Rural Commercial Bank high?

Because rural commercial banks are not state-owned banks, interest distribution is relatively free. In order to attract more people to deposit, the interest rate is generally raised to the maximum. Most rural commercial banks are reformed and established on the basis of rural credit cooperatives, mainly serving the "three rural issues" and local small and medium-sized institutions. According to the relevant regulations, rural commercial banks cannot open banking outlets across regions, unlike large commercial banks such as Agricultural Bank and China Construction Bank, which can be spread all over the country. The outlets of rural commercial banks are mainly distributed in remote and underdeveloped areas below the county level.

The nature and positioning of rural commercial banks make the scale, business scope and support scope of rural commercial banks very limited, and they cannot compete with other large commercial banks in terms of bank credit rating and user base. If rural commercial banks want to improve their storage capacity, they need to attract local users to save through higher deposit interest rates, which is one of the main reasons for the higher deposit interest rates of rural commercial banks.