Average maximum rate on deposits top 10 Russian updated at least

Moscow. June 2. INTERFAX.RU – the arithmetic Average of the maximum interest rates on deposits in rubles (excluding deposits with additional conditions – the combined Deposit products) of the top ten Russian banks that attract the largest volume of deposits in the third decade of may 2017 fell to 7.58% per annum from 7.69% in the second decade, according to the materials of the CBR.

Thus, this indicator fell to a new lowest level since the beginning of the observation (the Central Bank started to publish data monitoring maximum interest rates in mid-July 2009).

From the beginning of 2017, the arithmetic average of the maximum interest rates fell by 0.82 percentage points (PP) from 8.4% in the third week of December. In 2016, the rate dropped to 1,699 PP – 10,099%

Average maximum rate on deposits of the ten largest retail banks was introduced as a benchmark for the market: the regulator encouraged banks to attract deposits at a rate of 3.5 PP above the average maximum, otherwise the Bank becomes the object of special attention on banking supervision.