Translartion. Region: Russians Fedetion –
Sours: Mainfin Bank –
How did the bank deposit market change at the beginning of 2025?
Russians’ demand for long-term deposits began to grow in January 2025 – clients are trying to lock in a high rate for a long period. According to the Finuslugi platform for the first two months of the year:
The share of deposits for 6 months decreased by 1.5 percentage points, amounting to 54% of the total volume of deposits – the term is still the most popular; the share of deposits for 3 months decreased by 1.3 percentage points – to 25.2%; the share of deposits for 1 month also fell – to 3.1%; the share of deposits for one year, on the contrary, increased by 3 percentage points – to 13.7%; deposits for a term of over one year also show a slight increase.
The downward trend in bank deposit yields began after the February meeting of the Central Bank of the Russian Federation – the regulator left the key rate at 21%, which forced banks review the terms of savings instruments. The average maximum rate in the country’s largest banks has already fallen by 1.2%.
What do banks think about changing deposit terms?
At the same time, domestic banks do not record a single trend towards clients switching to long-term savings, although they allow for such dynamics in the coming months:
V MTS Bank see an increase in the popularity of long-term deposits, but within 2%; Post Bank noted an increase in the popularity of deposits for a period of 9 months – their share grew by 30%; in the bank “Russian standard» noticed an increase in demand for long-term deposits – a strengthening trend is expected; VTB the growth in the share of deposits for one year or more increased by only 0.4 percentage points; no movement of funds to long-term deposits was recorded in T-bank And Absolut Bank.
“Deposit rates in Russia are close to the peak level, since the key rate is not expected to increase. If the regulator decides to move to easing the monetary policy, the deposit structure will change – Russians will prefer to fix high yields,” the expert notes.
However, the expectation of a reduction in the key rate may also lead to a revision of bank policies – financial institutions will refuse to attract funds for a long term, having reduced the profitability of such savings products in advance.
15:50 04.03.2025
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