Antimonopolschikov caught banks in unscrupulous advertising of savings accounts. The maximum return promised by credit institutions is received by very few clients – only 256 out of 10,000, said the FAS.
Russia’s Federal Antimonopoly Service issued ten warnings to banks for unfair advertising of savings accounts and opened cases in two of them. Andrey Kashevarov, deputy head of the department, spoke about this.
Credit organizations often change the rate on accounts, which is advertised in advertisements. Since the maximum rate, according to the terms of the agreement, can only be applied to money that is stored in deposits for at least a year, a small number of clients can count on the maximum return on these accounts, the FAS noted.
“This way of attracting a customer base is unfair,” the department emphasized.
According to the statistics that the FAS requested from the banks, only 256 out of 10,000 people received the maximum return on their savings accounts.
Almost all Russian banks offer the possibility of opening a savings account. The basic rate on accounts for most credit institutions is different and ranges from 4% to 5%.
Author:
Kirill Bilyk
Source: RB
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