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1 May, Monday

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Deposit interest rates go on dropping

Business

Deposit interest rates in Russia go on dropping. For the second decade of March their maximal size dropped from 9,52% of interest per annum to 9,51%. The Central Bank of Russia published the results of traditional monitoring of deposit interest rates in ten biggest Russian banks, attracting the highest volumes of natural persons’ deposits.

As the news agency “Bashinform” reported earlier, banks were demonstrating steady rise of deposit interest rates since August 2011. This rise has reached its maximal value by February 2012. During the whole last winter month deposit interest rates were standing at the level of 9,56%.

“In my opinion the rates reached the ceiling. They can stand at such level, perhaps one quarter or six months but after that they’ll go down anyway” – the deputy General Director of the Deposit Insurance Agency (ACB) Andre Melnikov mentioned.

Many experts have the same opinion that the present reduction of deposit interest rates can be regarded as a tendency.

Tags: banks,deposits
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