Today the Central Bank of the Russian Federation (Центральный
банк Российской Федерации) reported the results of monitoring of maximum
interest rate levels for retail deposits in Russian rubles at ten major banks* for
the period 1-20 October. The level for
the first ten days of October was 9.40%, while for the second ten days of
October the rate was 9.45%, or five basis points higher. The press release can be read here:
The monitoring is based on information published on
the websites of the individual banks.
It is worth noting that the results published by the
CBRF do not necessarily reflect maximum deposit interest rate levels in Russia,
since the ten banks chosen for monitoring are among the largest and best known,
including banks like Sberbank and Raiffeisen that have little need to attract
new deposits. At present in Russia the
highest rate being offered for a 12-month retail time deposit of 30,000-200,000
RUB (740 – 4,933 EUR) is 12.25%,
offered by CrossInvestBank.
Mark Pleas
Eastern Europe Banking &
Deposits Consultant
(contact)
*The ten banks monitored by the CBRF:
Сбербанк России
ВТБ 24
Банк Москвы
Райффайзенбанк
Газпромбанк
Русский стандарт
Альфа-Банк
Уралсиб
Промсвязьбанк
Россельхозбанк
