Average deposit rates dropped below 20%

By mid-March, average deposit rates had dropped below 20% for periods ranging from three to 12 months, according to data from the websites of the top 10 banks in terms of public funds raised (Izvestia studied these resources). Over the past month, the yield decreased by 1 percentage point and reached 19.9%. They dropped before the Central Bank's key rate meeting, which will be held on Friday, March 21.

Permanent temporary: the market expects the key to remain at the level of 21%

Why, despite the statements of the deputy chairman of the Central Bank, the regulator is unlikely to tighten policy

Deposit rates fell the most for six months — from February 17 to March 17, they decreased by an average of 1.5 percentage points and reached 20.4%, according to data from the websites of credit institutions. The profitability of such deposits remains the highest, but it has already dropped below the key level.

Over the past month, rates on certain deposits have fallen for almost all credit institutions from the top 10, according to Izvestia. Only MKB and Dom Bank.The Russian Federation" increased yields for a period of three months, but still reduced them on deposits for six months and a year.

However, customers can still find great deals. The maximum rates in the largest banks are 23% per annum, the press service of the financial marketplace Finuslugi told Izvestia.

Read more in the exclusive Izvestia article:

Deposit sentiment: average deposit rates dropped below 20%