“The era of the depositor reaches its peak”: VTB has improved the conditions for deposits against the background of a record rate of the Central Bank

By placing funds over three or 12 months, new and existing clients can receive up to 21% annually. If you open a deposit under the long-term savings program (LSP), the rate reaches 28% per annum. The deposit amount under the program starts from 30 thousand rubles and cannot exceed the initial contribution to the PDS. The deposit can be opened for 3, 6 or 12 months.

On October 25, the Central Bank raised the key interest rate by 2 percentage points, to a record 21% annually, “which means that the investor’s time is reaching its climax this year,” said Georgy Gorshkov, vice president of the board of directors of VTB. . According to his forecast, banks will continue to respond to the tightening of monetary policy, but rate growth will slow down.

“Under these conditions, the first beneficiaries will be the depositors of those banks that quickly offer new interest rates and the possibility of insuring them “for a long time.” <…> In the near future the conditions for savings accounts will also improve,” Gorshkov added.

According to VTB forecasts, the volume of bank deposits of Russians will reach a record 56.3 trillion rubles by the end of the year. The average size of a VTB client’s deposit in 2024 was 531 thousand rubles, the maximum for the last three years.