IN VTB reported that from December 16, placement of funds in rubles will be available at a rate of up to 16% per annum, depending on the type of product.
“The increase in the key rate of the Bank of Russia was expected, so we improved the conditions on our savings account to 16% in advance, and today we decided to make a similar upward movement on deposits. According to our assessment, the market will react to today’s decision quickly, increasing the yield on savings products by an average of 0.5 percentage points. In these conditions, not only the rate, but also related conditions come to the fore: interest capitalization, the ability to flexibly manage your funds, as well as special offers for individual client segments,” said Natalya Tuchkova, head of the VTB Savings department.
At the same time in Alfa Bank announced an increase in the rate on the “Maximum” deposit to 16% from December 16.
In the bank “Opening” said they plan to increase the yield on their savings products. The final terms are currently being worked out.
In addition, the press service PSB reported that they are currently assessing the feasibility of changing rates on savings products for individuals.
Deputy Chairman of the Board Post Bank Alexey Okhorzin expressed the opinion that the next increase in the Central Bank’s key rate will even more actively stimulate banks to launch special New Year’s promotions on deposits and savings accounts, which will become especially attractive and in demand for clients on the eve of the holidays. He suggested that the yield on such seasonal deposits could reach 17-17.5% per annum. At the same time, Pochta Bank, before the Central Bank’s decision, launched a “New Year’s” deposit with a yield of 17% per annum.
Earlier in the day, the Central Bank raised the key rate to 16% per annum. Prior to this, on October 27, the Board of Directors of the Central Bank of the Russian Federation raised the rate to 15%. From September 15, the rate was at 13% per annum, from August 15 to mid-September – 12%, from July 21 to mid-August – 8.5% per annum. Before this, it had not changed since September 2022.
