The maximum deposit rate in the second ten days of March decreased to 14.7%
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The average maximum interest rate on ruble deposits in the ten largest Russian banks in the second ten days of March 2024 decreased to 14.7% per annum, follows from materials Bank of Russia. At the end of the first ten days of March, the rate was 14.85%.
From mid-July 2023 to mid-January 2024, the average maximum rate almost doubled – from 7.83% to 14.88% per annum. In the third ten days of February this year, it dropped to 14.79% per annum.
To monitor rates, the regulator uses data from Sberbank (MOEX: SBER), VTB (MOEX: VTBR), Gazprombank, Alfa Bank, Rosselkhozbank, FC Otkritie Bank, Rosbank, Tinkoff Bank (MOEX: TCSG), Promsvyazbank and Sovcombank. When determining the maximum interest rate for each bank, the maximum rates on deposits available to any client are taken into account. Deposits whose term is divided into periods with different rates are not taken into account.
Read more about the situation in the Kommersant article. “Long-term deposits continue to fall in price”.
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