Results of monitoring of credit institutions’ maximum interest rates in Russian rubles (13.12.2023)
The December 2023 results of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top ten credit institutions2 attracting the largest amount of household deposits are as follows:
The first ten days of December — 14.00%.
Data on changes in monitoring results are available on the Bank of Russia website.
Data on average maximum interest rates on deposits by maturity are given for reference.3
1 The maximum interest rate at a credit institution is measured as follows:
— Maximum interest rates on deposits available to any client (including potential ones) without any limitations and preliminary conditions are taken into account. Deposits for special client categories (pensioners, children) and purposes (social, humanitarian, etc.) are excluded.
— Compound interest rates on deposits are out of scope.
— Interest rates that are effective provided that certain conditions are fulfilled (regular bank card turnover, a permanent minimum balance on a bank card, etc.) are not taken into account.
— Combined deposit products, i.e. deposits with additional conditions, are not considered. Such additional conditions for higher interest accrual may comprise, among other things, purchase of investment units in a certain amount, opening of an investment account, conclusion of an agreement on investment or endowment life insurance, buying an extra service package, etc.
— Deposits with maturities divided into periods with varying interest rates are out of scope.
The average maximum interest rate is calculated as an arithmetic mean of the maximum interest rates of the top ten credit institutions.
2 Sberbank (1481) — www.sberbank.ru, VTB Bank (PJSC) (1000) — www.vtb.ru, Bank GPB (JSC) (354) — www.gazprombank.ru, AO ALFA-BANK (1326) — alfabank.ru, JSC Rosselkhozbank (3349) — www.rshb.ru, Bank Otkritie Financial Corporation (Public Joint-Stock Company) (2209) — www.open.ru, CREDIT BANK OF MOSCOW (1978) — www.mkb.ru, Tinkoff Bank (2673) — www.tinkoff.ru, Promsvyazbank PJSC (3251) — psbank.ru, PJSC Sovcombank (963) — sovcombank.ru. The monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using the information provided by the said websites. The published values are indicative.
3 Average maximum interest rates on deposits: for up to 90 days — 10.33%; for 91 to 180 days — 13.61%, for 181 days to one year — 13.69%; and for over one year — 12.75%.
