The share of fixed-term deposits in Russian savings has increased by a third since the beginning of the year, from 48% at the beginning of the year to 62% in November. At the same time, the share of savings accounts increased by 8% in this period, informs Kommersant newspaper with reference to VTB data.
The reason for the increased interest of citizens in emergency banking products was several factors. The financial institution noted that among the key ones are favorable interest rates, as well as the return of Russians to the savings behavior model due to the crisis linked to international sanctions against the country.
“Since the beginning of October, the spread between average market interest rates on deposits and savings accounts has doubled to reach January – 2.1 percentage points. Until the end of the year, time deposits will continue to grow in popularity among the public, mainly due to seasonal special offers by banks, said Roman Glazov, head of business development and business support at VTB Savings.
November 28, Associate Professor at the Department of State and Municipal Finance of the Russian University of Economics. G.V. Plekhanova Mary Valishvili recommendation Russians will invest in federal loan bonds (OFZ) and currencies of so-called friendly countries. This is due to the general instability in the stock market.