Six Major Banks Announce: Digital RMB Interest Calculation and Settlement Rules Are Consistent with Current RMB Demand Deposits

Recently, several state-owned banks announced that starting from January 1, the balance of customers' real-name digital RMB wallets will accrue interest at the same rate as demand deposits. The specific interest calculation and settlement rules are completely consistent with those of current RMB demand deposits.

Specifically, according to reports from multiple media outlets, the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, and other banks have successively announced this policy.

This series of announcements is also in line with the recent issuance of the Digital RMB "Action Plan" by the People's Bank of China, which clarifies the measurement framework, management system, operational mechanism, and ecological system of the new generation of digital RMB. It will be officially implemented starting January 1, 2026.

The plan also stipulates that banking institutions must pay interest on the balances of customers' real-name digital RMB wallets and adhere to the market interest rate pricing self-discipline mechanism guided by the People's Bank of China, aiming to maintain market competition order and promote steady progress of interest rate marketization.

Taking the Industrial and Commercial Bank of China as an example, from January 1, 2026, the balances of digital RMB real-name wallets (Type 1, Type 2, and Type 3 wallets) will accrue interest according to the demand deposit interest calculation rules prescribed by the People's Bank of China, and the wallet operators will lawfully withhold and pay the interest tax.

Furthermore, the wallet balance will accrue interest based on the posted demand rate on the settlement date, with interest settled on the 20th of each quarter's last month and credited on the 21st.

Additionally, if a customer closes their account before the settlement date, interest will be calculated up to the day before the account closure based on the posted demand rate announced on the account closure date.

Moreover, if the digital RMB wallet opened by the customer is an anonymous wallet (Type 4 personal wallet), the balance within the wallet will not accrue interest.

The implementation of this policy not only provides more financial services for digital RMB users but also further promotes the popularization and application of digital RMB within the financial system.

In summary, the interest calculation policy for digital RMB is an important milestone in the development of digital RMB. It not only enhances the attractiveness of digital RMB but also offers users more financial options.

As digital RMB continues to improve and develop, we can look forward to more innovations and applications of digital RMB in the financial system.

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