The maximum rate on deposits in rubles fell to the historical minimum

The maximum rate on rouble deposits among the top 10 Russian banks fell to a historic low. This follows from the statistics of the Central Bank, published on the regulator’s website.

According to these data, during the first decade of April 2017 the average of the high rates of these credit institutions fell from 8,015 to of 7.798%. This is the lowest figure in the history of calculations — since July 2009.

As can be seen from statistics published by the regulator, to date minimal compared to 7.85% (recorded in June 2011). Thereafter until December 2014 rate was mainly growing. In this case the maximum bet is reached 15,635% (in December 2014).

Earlier, on 4 April, the rates on ruble deposits and savings certificates 0,30–1,05 p. p. reduced the savings Bank. Reasons for rate changes was a decrease in the key rate of the Central Bank on March 27, and “market trend to lower interest rates on deposits due to a sharp deceleration in inflation,” said Sberbank. A representative of the credit organization said that this could lead to the achievement of the objectives of the Bank of Russia’s inflation at around 4% in the summer.

The last time interest rates on deposits in rubles 0.05–0.7 p. p. the Central Bank reduced the 15 February 2017. Then the maximum rate of retail ruble deposits opened in Sberbank branch was of 6.15% per annum, and the contribution that open remotely — of 6.65%.