02 October 2012, Tuesday, 13:56

New calculation procedure to decrease the maximum deposit rate for one and a half percent

author: Alfiya Sharafutdinova

The maximum deposit rate for individuals grew up to 10,68 percent as of the beginning of October. In the middle of September this figure made 10,53 percent. The specified figure is a rate taking into account the combined deposit products. Without their influence it equals 9,35 percent per annum.

As "Bashinform" informed earlier, since October, 2012 the Bank of Russia transfers to the mode of monitoring of average maximum interest rate using only deposits rates without influence of the combined deposit products.

As a result it turns out that now the maximum rate will be lower then that paid off earlier. Thus banks can establish deposit rates not higher than maximum rate on two percentage points — earlier it was on 1,5 percentage points, it is marked on the website of Credit Organisations Association of Bashkortostan Republic. It comes out that for banks there are no strong changes– unless for those basically focused on retail and which exaggerate deposit rates too much. In other words, the Central Bank will especially closely monitor now those credit organizations, which have deposit rates more than 11,35-11,40 percent. For the population such calculation procedure may seem as the negative factor as in the State Banks and now the deposit rate practically does not exceed the refinancing rate, and the choice of "profitable deposit" in private banks will be limited by new interest rate now.