Russian banks raise deposit rates ahead of central bank meeting

The meeting of the Bank of Russia will be held on Friday, September 13. The regulatory rate is currently 18%, experts suggest that it could be raised. At the same time, credit institutions are already rewriting the percentages of profitability of loans.

Sberbank has raised the maximum rate to 20% per annum, provided that the money has not yet been stored in other deposits in the bank and is open for a period of three years, and interest will be paid at the end of the term. For deposits for 3 and 6 months, you can get a maximum of 18% per annum, for 9 months – 19%, for one year – 17%.

VTB has also increased the yield on long-term ruble deposits: a two-year deposit will generate a 20% annual yield. Clients who transfer new funds to VTB from other banks will be able to receive this rate.

On the Alfa Bank website there is information about the Alfa Deposit product, its term is three years and they offer 21% per annum, the condition is that it is opened for the first time. If you “invest” for 6 months, you can get income of up to 18.5%, for 3 months – up to 18%.

Gazprombank will pay 21% per annum to depositors for deposits opened for 6 months online, and the client will be able to receive interest only at the end of the term.

Sovcombank offers its clients 21% per annum, but only for three years and it will not be possible to withdraw money from the account. At T-Bank, the maximum yield will be 19%, but the conditions only indicate the deposit period – one year.

Depositors’ incomes exceeding 180 thousand rubles will be subject to tax on interest on deposits, it became known at the end of July. Previously, this threshold was 160 thousand rubles.