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- It may get expensive: banks have started pre-New Year's Eve hunt for Russians' bonuses
It may get expensive: banks have started pre-New Year's Eve hunt for Russians' bonuses
On the eve of holidays banks launched promotions for their products and services. Most of them expect to collect a fat harvest of pre-New Year's bonuses, so they decided to play on the record yield of deposits. Russians are offered to deposit money at 23-26% per annum, Izvestia found out. The players also promote promotions and drawings of money, but there are no attractive offers in the design of credit products. On the real benefits and pitfalls of promotional offers - in the material "Izvestia".
New Year promotions of banks in 2024
In Russian banks in late November and early December launched traditional for this time promotions for products and services. Credit organizations on New Year's Eve resort to such methods to increase the loyalty of existing customers and attract new ones. "Izvestia" studied the proposals of market participants.
Most players in the outgoing year decided to take advantage of the record profitability of deposits, while a year ago there were more offers to open credit cards with an interest-free period, as well as discounts or increased cashback for purchases under certain conditions.
Before the New Year financial organizations offer rates on deposits and savings accounts much higher than the key rate. It is 21% until December 20, but the rate is expected to be raised to 23% at the last meeting in 2024. As a rule, to get favorable terms, you need to meet a number of requirements.
Seasonal deposit up to 26.6% started in early December, said in Sovcombank. This rate is possible if the money put for one and a half years, regularly use the bank's card, make at least five purchases each month for a total amount of 10 thousand rubles and do not allow delinquency on loans. At the same time, the bank guarantees a minimum yield on these terms of 23.6% per annum.
Yield of 25% per annum when opening a deposit online offer in Gazprombank. According to the conditions specified on the website of the organization, the minimum deposit amount when making a mobile application or Internet Bank should be equal to 15 thousand rubles, in the office - 300 thousand. But the promised rate is possible only if the money will be placed for four to six months. Less than this period, clients will be able to get an average yield of 23%.
The rate of 23-24% per annum offer in MKB when opening a deposit for three or six months, respectively. The bank's website says that the amount of ruble deposit can vary from 10 thousand to 5 million rubles.
Almost similar rate on the eve of the holidays offer and in the bank "St. Petersburg". In particular, the maximum yield of 23% is available on the most popular term - six months, and for three months or one year - 22% (when the product online), reported in the financial organization. They specified: replenishment and withdrawal is not provided, and interest will be paid only at the end of the term.
Open a deposit for one year at 27% offered in Absolut Bank. However, the promised rate will not be valid for the whole term. The terms of the campaign provide four interest periods of 90 days with different accruals in each period (14%, 16%, 18% and 27%), it follows from the terms specified on the website of the organization.
Banks not only set favorable conditions on deposits, but also offer customers to participate in drawings of cash prizes. For example, VTB customers with an accumulated account have a chance to win one of 25 certificates worth 200 thousand rubles for shopping or travel, said the credit organization. However, to do this, a person needs to deposit 50 thousand rubles into the account (in addition to the funds already available there) and not withdraw the entire amount until the end of January.
The action with the main prize of Br1 million when making a loan or deposit in rubles or yuan (equivalent at the Central Bank rate) for the amount of Br300 thousand and more was launched in Asia-Pacific Bank from November to December. In this case, according to the terms and conditions on its website, the full cost of the loan can be 22.8-37.8% per annum, while the yield on deposits - 23-27%.
Why banks raise deposit rates in December
- Given that Russian companies often pay annual bonuses and bonuses in December, the main efforts of banks are aimed at attracting funds into savings products. We believe that this year will not be an exception," VTB told Izvestia.
Artur Gafarov, head of the Institute of Entrepreneurship and Economic Development, is sure that the increased rates are used mainly to attract new clients. At the beginning of December only five organizations out of the top-20 banks offer New Year promo deposits directly, he added.
Competition for the client has generally increased, including against the background of free transfers of up to Br30 million between their accounts. This makes it easier for people to transfer money from one player to another in search of better terms. And an additional incentive to improve conditions on deposits is the expectation that the Central Bank will again raise the key rate on December 20 to a record 23%.
At the same time, when the key rate is raised, it is difficult to talk about any promotions in credit products, because it is not clear what the market interest rates will be next, said Alexei Krichevsky, a financial expert and author of the Telegram channel "Economism". In recent months, banks, on the contrary, actively cut off grace periods, reduce limits on credit cards, which also prevents the launch of any marketing programs.
Pitfalls when making profitable deposits
The rates offered by banks are relatively attractive for individuals, said Artur Gafarov. Now they exceed the inflation rate, as well as the possible growth of the dollar rate, he explained.
Market players are also promoting the opening of investment accounts, which provide an opportunity to get more income - but with the help of riskier instruments than deposits, the expert notes. For example, such proposals were made by Sber and Alfa-Bank.
- Digital financial assets (DFA) are also becoming an alternative to traditional deposits. The yield on them now reaches 25-26% per year. But there is a risk: this product does not fall under the deposit insurance system. Also for large-scale investments in DFA it is required to obtain the status of a qualified investor, otherwise the limit of funds cannot exceed 600 thousand rubles per year, - shared the expert.
When evaluating the proposals of financiers, one should proceed from the fact that free cheese is only in a mousetrap, advises the founder of the service "Kredchek" Elman Mehdiyev. For the most part, banks prefer not to advertise a number of conditions in advertising offers, but the contract usually spells out everything, said Polina Gusyatnikova, senior managing partner of PG Partners law firm. "Izvestia" sent a request to the FAS.
- The main problem is that many citizens do not read contracts and do not even ask additional questions when signing up for promotional products," she emphasized.
Therefore, according to the expert, in order not to have unpleasant surprises later, it is necessary to clarify all the conditions of special offers. And do not forget that the bank will never work at a loss.
If the key rate continues to grow, the most favorable will be the rates for the term of 9-10 months, Elman Mehdiyev believes. However, the longer the term for which deposits are attracted, the more accurate planning of one's expenses and income is required, the expert reminded.
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