“Our money was crying”: banks may lower deposit rates

Now deposits are the best tool for saving money, but the situation may change

It seems that the period of fabulous deposit savings in banks may soon end. A number of experts strongly recommend that Russians who have not yet boarded the “tram of desires” should quickly open a deposit account in a bank at high (for now) interest rates. Rates on short-term deposits will soon begin to decline.

The “window” of great financial opportunities has not yet been closed. The Central Bank’s key rate remains at 16% per annum. Some banks (albeit with additional conditions for depositors) “give” even 17%. But in general and on average they offer 10-14-16%.

It cannot be ruled out that already at the April meeting of the Central Bank (in the twentieth), the regulator may agree to reduce this indicator. However, the head of the Central Bank, Elvira Nabiullina, recently said that the key rate could be reduced in the second half of this year.

But then the level of the key rate will begin to decline, and our savings, accordingly, too.

– How long can the high deposit rate last? – we ask Candidate of Economic Sciences, financial analyst Mikhail Belyaev.

“I don’t rule out that the Central Bank is now under pressure to soften its tight monetary policy,” he says. “And there is a possibility that already at the April meeting of the Board of Directors the regulator will reduce the key rate. This possibility still exists.

But he will not reduce it sharply, I believe, by one percentage point, to 15% instead of 16. In an extraordinary situation, the key rate can be sharply pulled up. But it will be reduced gradually.

And Russians still have time to calmly, without fuss, open their deposit.

– If, say, the Central Bank lowers the key rate, how soon will commercial banks react to this situation?

– Literally the next day, they won’t put it off. But if you have a deposit for 3 or 6 months, opened before the key rate decreases, it will remain at the same level. In addition, 15% is also a high deposit rate.

– How long will investors be able to make a profit?

– If the regulator begins to reduce the rate by one percentage point per month, citizens still have 3-4 months ahead to “earn” on interest. In any case, this tool is the most profitable today. And in the fall we need to look at how to further use the savings in order to make a profit from them.

– Can you advise how to use it, where to take the money in the fall, when the “shop” with deposits closes?

– The fact of the matter is that there is nowhere, now there is simply no alternative to deposits. A decree on a tax deduction of 13% was signed. But it concerns only long-term savings; not all fellow citizens use such an instrument. In addition, the tax deduction applies to those who pay taxes, that is, it does not affect pensioners.