Sberbank has reduced rates on deposits

The savings Bank from September 30 to cut rates on deposits in rubles, dollars and euros, reported the Bank press service. On the basic line of ruble deposits rates decreased on 0,30-0,55 p. p. interest Rates on deposits in us dollars decreased by 0.04-0.6 PP in the Euro — 0.04-0.39 in p. p.

The maximum rate on deposits for a period of six months or a year in rubles now costvalue of 6.85% in dollars for a period of one to two years to 1.25%, in EUR — 0,25%. When you open the online contribution rate on ruble deposits will be higher than the rate of deposits in the Bank branches on average by 0.35 percentage points on the dollar — an average of 0.3 PP.

“The reason for the change was the decrease of 19 September, the key rate of the Central Bank by 0.5 percentage points and the General market trend for reduction in cost of raising funds”, — said the press service of Sberbank.

In late 2014, after the Central Bank raised the key rate to 17%, the largest banks offered the clients the deposits with interest rates above 15%. The average rate then, about 10 days has risen by nearly half, and by the end of December reached the level of 15,635%. Some small banks rates on deposits exceeded 20% per annum. After the Central Bank started to lower its key rate began to fall and Deposit rates.

On 16 September, the Central Bank decided to reduce the key rate by 0.5 percentage points to 10%. The regulator said it has no plans to change rates before the end of the year. The Central Bank noted that the next rate reduction is possible in the first and second quarter of 2017. On September 28 the first Chairman of the Central Bank Dmitry Tulin has stated that the Bank of Russia seeks to avoid unnecessarily frequent changes in the key rate.