A recent nationwide survey by the newspaper News looked at the 30 largest Russian banks to see what New Year’s promotions and offers they are rolling out. The findings show a busy holiday season with savings options, favorable loan terms, and bonus incentives that are likely to attract households and businesses alike as year-end activity rises.
From December 1 onward, Russians have the chance to open deposits offering annual yields in the 8 to 9.5 percent range, while the central bank’s key rate sits at 7.5 percent. In addition to savings, the same round of information highlights mortgage products with special conditions that aim to ease the load for homebuyers during the festive period.
According to the article, three banks introduced deposits that exceed the Central Bank’s key rate during the pre-holiday rush. Otkritie Bank announced the launch of a new deposit at the end of November with an 8 percent annual rate, available for a 13-month term. VTB added details about a three-year deposit offering yields up to 9.5 percent. Post Bank highlighted an option to place sums from 10,000 rubles up to one billion rubles at an 8 percent annual rate for a period of 18 months.
The publication also notes that two banks were positioned to offer the most attractive loan terms in the market. Zenit Bank introduced a grace-period mortgage, allowing a three-month pause on principal repayments while applying a 4.99 percent annual interest rate. This promotion runs through December 31 and applies specifically to Zenit’s mortgage programs. Absolut Bank, meanwhile, announced housing loan campaigns during the New Year holidays, promising a 0.5 percentage-point discount on loans during that period, aligned with prevailing exchange-rate conditions at the time the deal was closed.
Industry experts caution readers to proceed with care. They point out that a surprisingly low-rate holiday loan can, in practice, be less advantageous than a standard loan, once all fees, terms, and future adjustments are considered. The message is to compare annualized costs, not just the headline rate, and to account for any potential penalties, appraisal fees, or changes in terms after the promotional period ends.
Earlier in the year, a new loan product from SME Bank, titled Sevenletka for Business, created opportunities for small and medium-sized enterprises to secure an unsecured long-term express loan. The program is designed to minimize the need for personal presence during registration. Financing can be sought for up to seven years, with the application evaluation time capped at 72 hours, offering a rapid path to capital for business expansion or working capital needs. This reflects a broader trend toward faster, more accessible lending options for the business sector during the holiday season and into the new year, with banks emphasizing speed and clarity in approval processes.