Experts reported a reduction in deposit rates to a minimum

Average bank deposit rates continue to decline, reaching their lowest levels in recent months. This was reported to Izvestia on March 19 in the press service of the financial marketplace Finuslugi.

According to the index of deposits calculated by the marketplace, as of March 19, the average rate for three-month deposits in the top 20 banks was 20.33%, for semi—annual deposits — 20.25%, and for annual deposits - 19.25%.

It is noteworthy that since mid-March 2025, rates on three-month deposits have exceeded rates on six-month deposits for the first time since October 2023. However, for all periods of investment, the average rates remain below the Central Bank's key rate, which has been 21% since October 28, 2024.

"The rate cut is related to the general trend of monetary policy easing. After the last meeting of the Central Bank on February 14, at which the key rate remained unchanged, 19 of the 20 largest banks lowered deposit rates," the press service explained.

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Average rates on semi-annual and annual deposits (20.25% and 19.25%, respectively) have reached their lowest since November 2024, when banks began actively adapting their products to the current key rate level.

Currently, the maximum deposit rate in the top 20 banks is 23%, and on the Financial Services platform you can find offers with a yield of up to 24%. However, such conditions are most often available for deposits with special requirements, such as limited terms or minimum amounts.

Analysts predict that the downward trend in rates may continue in the coming months, especially if the Central Bank maintains the current level of the key rate or begins to reduce it. In such circumstances, depositors should carefully study the offers of banks and consider alternative savings options.

Earlier, on January 13, former Deputy Minister of Economy, Doctor of Economics Alexey Vedev explained the reasons for the reduction in deposit rates by banks. According to him, on average, deposits have become less profitable by 0.5% due to the fact that the Central Bank (CB) left the key rate unchanged before the new year. Therefore, the expectations of banks about the rise in the cost of money have not been fulfilled.