Sberbank has temporarily raised the maximum rate on deposits

Sberbank announced a temporary expansion of the range of contributions in honor of its 175th anniversary, the message of the Bank. It includes the ruble contributed “Most valuable”, the maximum rate of 8% per year compared to 6.85% in the most profitable of regular deposits.

The Deposit term is 175 days, and cannot be opened until the end of November. The amount which can be applied to the maximum rate that is not less than RUB 1 million For clients who have made a Deposit of 500 thousand to 1 million rubles., offers a rate of 7.5% per annum. When the amount of the contribution from 25 thousand to 500 thousand rubles it will reach 7.25%.

Clients who opened the Deposit “Most valuable”, Sberbank will issue the policy of insurance program a “Protected investor”, providing for the term insurance coverage against accidents in the amount of 100 thousand rubles.

Previously the Bank has repeatedly lowered rates on deposits. The last time yields were lowered by 30 September, when base rates on the line of ruble deposits fell by 0,3–0,55 p. p. for deposits in USD for 0.04–0.6 PP in the Euro — 0.04–0.39 in p. p.

Other large banks in recent months also has been cutting rates on deposits. As a result, by the end of September 2016, average maximum interest rates on deposits in the ten largest Russian banks fell to 8.69% per annum, which was the lowest value since the beginning of may 2014.