The government of the Russian Federation will double insurance payments on savings certificates

On April 24, Russian Prime Minister Mikhail Mishustin announced that the government intends to double the limit on insurance payments for savings certificates from 1.4 to 2.8 million rubles.

"Today we will consider amendments to the legislation, which will double the limit of insurance payments on the so-called savings certificates confirming the contribution of an individual or an individual entrepreneur in a bank for a period of more than three years. The compensation for them will amount to 2 million 800 thousand rubles," Mishustin said at a government meeting.

He stated that the proposed tool would be of interest to those "who are ready to invest and earn money inside their country."

As the Prime Minister pointed out, Russian President Vladimir Putin noted that people should be able to reliably invest their savings and at the same time receive additional income.

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What does this say about the Central Bank's decisions on the key issue and is it worth addressing the savings issue now?

On April 15, it was reported that insurance of long-term savings of citizens will be increased in Russia. Funds on such certificates for a period of three years or more will be insured in the amount of 2.8 million rubles. The document was submitted by the Ministry of Finance, and on April 14 it was approved by the Executive Committee on legislative activity.