21 November 2012, Wednesday, 16:19

The maximum interest deposit rate raised to 9,5 percent

author: Alfiya Sharafutdinova

Some increase of deposit interest rates of individuals was fixed by the Bank of Russia at the end of the second decade of November. Today the maximum rouble interest deposit rate of citizens makes 9,51 interest rate per annum against 9,46 percent ten days before.

“Fr om my point of view, the rate should stop already in its growth because it reduces the bank margin. Gradually we approach to some lim it beyond which banks cannot pass any more without essential risks,” the deputy general director of the State Corporation «Agency on Deposits Insurance» (ASV) Andrey Melnikov shares his opinion in the interview on the department website. “Now rates are rising, but very slowly. And, probably, such increase will proceed. What period of time, it is not known. But really high interest rates cannot stay at such level for a long time.”

According to Andrey Melnikov, today rates are considerably higher than inflation, and their high level negatively affects borrowers and economy as a whole.

“An average level of rates now is about 10 percent, inflation is six percent. It turns out that real deposit profitableness is four percent. It is quite much. In my opinion, the optimum size is approximately 2-2,5 percent,” the ASV deputy general director marks.