The expert predicted the income of Russians on deposits at the end of the year

This year, Russians will be able to earn about 9 trillion rubles on deposits, which will renew last year's record, predicts Georgy Gorshkov, Deputy President and Chairman of the Management Board of VTB.

"Many Russians who have postponed major purchases since last year will continue to save for them with the help of deposits and savings accounts, only the growth base will already be much higher. The upward movement will provide the market with extra-high interest, which will be paid on the expiration of deposits placed this winter at the peak of rates," Gorshkov said.

In his opinion, the savings market in Russia will overcome the mark of 60 trillion rubles at the end of the first half of the year, and at the end of the year will grow by 21% and exceed 68 trillion. The main driver of market growth will again be ruble deposits, the portfolio of which will increase by 22% to 64 trillion. The share of the national currency in the accounts of the population in banks will grow to 94%.

Gorshkov believes that during the first half of the year the key rate will remain at an extra-high level, and this will ensure a significant yield on savings products. The average level of deposit rates will amount to 19-20% per annum. At the same time, the peak of deposit rates will be this winter.

"The average maximum rate of attraction in 2024 at the main players of the market reached 22.8% per annum and at the end of the year against the background of maintaining the level of the key rate was slightly adjusted by banks "down" - to 21.7% per annum. Nevertheless, even now there is a unique situation in the market, when deposit rates exceed the key rate," said Deputy President and Chairman of the Management Board of VTB.

According to him, in the second half of the year the trend may change - when in the conditions of declining rates on deposits funds will begin to gradually flow to savings accounts.

Gorshkov also noted that at the peak of interest rates, which fell in December 2024, more than 750 thousand VTB customers reopened deposits. The bank's portfolio of classic retail savings this month increased by a record RUB 895 billion, up 9.2% against November and one and a half times compared to December 2023.