VTB increased the yield on long-term ruble deposits without waiting for the meeting of the key rate of the Central Bank of the Russian Federation. This was reported to socialbites.ca by the press service of the credit institution.
The maximum rate on deposits for two years will now be up to 20% per annum. The offer is available to new customers as well as existing customers who will transfer new funds from other banks. Customers who transfer their funds from Otkritie to VTB will also receive an increased rate.
The bank increased the base rate for 3 and 6-month deposits for existing customers by an average of 1.9-2.5 points. The final rate depends on the service package, placement conditions, down payment amount and the choice of interest capitalization or monthly payment option.
“We see depositors’ desire to deposit their funds in banks for the long term, but one in ten deposits is short-term. This is justified: the Central Bank has given a clear signal that interest rates will definitely not fall in the near future,” said Georgy Gorshkov, Deputy Chairman and Chairman of the Board of Directors of the Bank.
It was known to analysts the day before divided The Central Bank is forecasting interest rates. A Vedomosti poll showed that 13 out of 25 experts expect the rate to remain at 18%, while 12 predict it will rise. Some predict growth will rise to 20% due to inflationary pressures.
Two million Russians before warned regarding increased salaries.
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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.