Since mid-December, Sberbank has raised the yields on several ruble deposits, with the top rate now reaching 16 percent per year. The bank published these figures on its official site, outlining the changes and eligibility criteria for the higher return.
The 16 percent maximum is available only when opening a deposit with new funds that have not been placed with the bank in the prior three calendar months. The account must be active for six months, and the owner must be an ongoing, paying client. In addition, the depositor must hold a SberPrime+ subscription.
Beginning on December 15, Sberbank also boosted rates across the SberInvestments and Manage product lines, including the popular Best Percentage option. The bank reported that the increase varied by product, ranging from 0.8 percentage points to 1.68 percentage points depending on the specific deposit—according to statements reported by RIA Novosti through Sberbank.
Earlier, the bank raised rates on savings products such as the Daily % account and the Premier Savings Account. The current maximum return on these products stands at 14 percent per year.
In the same period, VTB announced higher rates on its own savings offerings, lifting the savings account rate to as much as 16 percent for some customers. These higher returns are typically available to new customers opening a savings account or to existing clients who held very small balances in the previous 90 days.
Industry observers note that these adjustments come ahead of the Central Bank of Russia’s key rate decision, anticipated to be announced in the late afternoon of December 15. Analysts and economists surveyed by socialbites.ca expect a rate increase of about 100 basis points, which would push the benchmark to around 16 percent annually.
In discussions about the broader environment, some market commentators have mentioned the possibility of the ruble exchange rate responding to a higher base rate, potentially edging toward 17 percent in the event of further tightening. This backdrop helps explain why several lenders have moved earlier to adjust savings yields as they calibrate with policy expectations.
Overall, retail savers can expect a broader array of higher-yielding options in the near term, with banks signaling a willingness to offer attractive returns to attract new funds while market conditions are recalibrated. The evolving landscape underscores the importance of comparing product terms, including the required hold period, eligibility for new money, and any subscription requirements, before choosing a savings vehicle.
Source attribution: Financial market reports and bank disclosures summarized by market observers. See RIA Novosti reports via Sberbank communications and industry coverage from socialbites.ca for context and validation.