Translation. Region: Russian Federal
Source: Mainfin Bank –
How have the deposit rates changed in the top 20 banks?
The wave of rate cuts is an expected trend against the backdrop of the decision taken by the Central Bank of the Russian Federation. Most banks of the top 20 have already revised their terms deposits. Thus, on June 17, the average interest rates for deposits consist of:
18.9% for a term of three months (a decrease of 0.6 percentage points); 18.2% for products opened for six months (a discount of almost 1 percentage point); 17.4% for deposits for a term of 12 months (the yield dropped by more than 1 percentage point).
“Even before the key rate was lowered, the industry was seeing a trend towards worsening deposit conditions – the decision by the Central Bank of the Russian Federation accelerated this trend,” experts note.
However, the changes in the industry did not come as a surprise – under the influence of the regulator’s policy, experts expected a reduction in rates on savings products. At the same time, banks began to review the terms and conditions credit programs – the negative dynamics will continue in the near future.
Which banks have already revised their deposit terms?
Russian banks immediately began revising their rates after the Central Bank of the Russian Federation’s decision. Among the first major financial institutions to reduce their deposit rates were:
The most favorable conditions for deposits are maintained when opening a deposit for a short period (usually up to three months). Banks also offer special conditions for new depositors – increased rates apply when opening for the first time contribution or savings account.
14:30 06/17/2025
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