Average maximal interest rate on ruble deposits reach 13.64% in late November

Deposit interest rates are monitored by the regulator in Sberbank, VTB, Gazprombank, Alfa-Bank, the Credit Bank of Moscow, Tinkoff Bank, Sovcombank, Bank FC Otkritie, Promsvyazbank, and the Russian Agricultural Bank.
The average maximal interest rate on ruble deposits with the ten Russian credit institutions having the maximal amount of private deposits stood at 13.64% in late November, the Central Bank of Russia said.
The rate was 12.04% in late October, 13.57% in early November, and 13.64% from November 10 to 20 of this year.
Deposit interest rates are monitored by the regulator in Sberbank, VTB, Gazprombank, Alfa-Bank, the Credit Bank of Moscow, Tinkoff Bank, Sovcombank, Bank FC Otkritie, Promsvyazbank, and the Russian Agricultural Bank.
The regulator said earlier that it would keep an eye on cases when the banks interest rate for ruble deposits is more than 2 percentage points higher than the average one for ten monitored banks. The decision taken by the Central Bank is aimed at reducing the interest risk for banks arising when attracting retail deposits at rates above the market ones and contributes to financial stability of credit institutions, the regulator said.



Source