12 December 2011, Monday, 16:13

The rise of deposit rates will stop soon

author: Alfia Sharafutdinova

The maximal deposit interest rate reached 9,3%. Thereby just for  the first decade of December its size increased by 0,26 points.

The Central Bank of Russia published the results of the traditional rating among ten biggest Russian banks, attracting the highest volumes of personal deposits. The data was introduced in dynamics – since January 1, 2010. That time Russian banks were ready to receive the means from population maximally under 12,97% of interest per annum. After that gradual lowering of the deposit rates was observed every month – to 8,35% in December 2010. This lowering was continued in 2011 – from 8,25% in January to 7,85% in June and after that the rates started gradually going up. At the end of August the maximal rate was 7,88%, in September -8,14, in October  - 8,33 and in November 9,04%.

“Now there is the most favorable time for making deposits: the deposits interest rates are higher than the annual level of inflation by 2-2,5% and further increase is hardly probable, taking the current policy of the regulator and the Russian Ministry of finances into account” — the analyst of the Credit Organizations Association RB Nikita Ignatenko says.

The expert from Moscow Oleg Grigoriev also believes the rise of deposit interest rates will stop soon.

“We never faced such economic showings before” — he said — “9% is very high figure, higher that the rate of the Central Bank of Russia and much higher than the inflation. The imbalance is evident and it can't happen so for a long time”.

themes: banks, deposits