In the second decade of December 2022, the average maximum deposit rate of the ten banks that attracted the largest volume of deposits from citizens was 8,192% per annum. It reached the mid-June level and exceeded the key rate – 7.5% per annum, following the materials of the Central Bank.
Compared to the first ten days of the month, the indicator increased by 0.8 points, reaching its maximum value since the first ten days of June.
Then the rate was 9.09%. The minimum – 4.33% – was recorded by the regulator in the first decade of October 2020.
In 2022, the average maximum rate increases from ten to ten years since the third decade of September. Then the regulator fixed a local maximum – 6,541%.
The average maximum deposit rate of the ten banks attracting the largest deposit volume from citizens is an important indicator in the banking market. When determining deposit rates, Russian banks are guided by the average maximum rate. The Central Bank recommends that banks increase their household funds by no more than the value of this ratio plus 2 percentage points.
The list of banks monitored by the Central Bank includes Sberbank, VTB, Gazprombank, Alfa-Bank, Rosselkhozbank, FC Otkritie Bank, Raiffeisenbank, Tinkoff Bank, Promsvyazbank and Sovcombank.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.