According to the results of the second ten days of September, the average maximum rate of the top 10 Russian banks on deposits of individuals in rubles amounted to 6.74%. Compared to the first decade, it decreased by 0.1%, over the month – by 0.115% and approached the level of the third decade of October 2021 (6.7%). The monitoring data is published on the website of the Central Bank.
“The results of monitoring in September 2022 of the maximum interest rates on deposits in Russian rubles of ten credit institutions that attract the largest volume of deposits from individuals: the first ten days of September – 6.84%; The second decade of September – 6.74%,” the Central Bank reported.
The maximum interest rate on ruble deposits rose sharply in early March – from 8.59% to 20.51% against the backdrop of an increase by the Central Bank on February 28 of the key rate from 9.5% to 20%. Since then, it has been gradually decreasing.
For reference, the regulator also cited the current average maximum interest rates on deposits by terms of raising funds: for deposits up to 90 days, it was 5.5%; from 91 to 180 days – 6.43%; from 181 days to 1 year – 6.46%; for a period of more than 1 year – 6.67%.
The banks whose data the Central Bank uses to monitor rates include Sberbank, VTB, Tinkoff Bank, Raiffeisenbank, Gazprombank, Credit Bank of Moscow, Alfa Bank, Promsvyazbank, Rosselkhozbank, and FC Otkritie Bank. The Central Bank does not take into account rates with interest capitalization, deposits with additional conditions, as well as deposits, the term of which is divided into periods with different rates.