The Bank of Russia has released the results for December 2024 regarding the maximum interest rates on deposits in Russian rubles. The monitoring covered the top ten credit institutions attracting the largest amount of household deposits.
For the first ten days of December, the maximum interest rate was recorded at 22.08%. This figure slightly increased to 22.28% during the second ten days of December. These results are available on the Bank of Russia’s website.
The calculation of maximum interest rates takes into account only those deposits available to any client without limitations or preliminary conditions. Special categories such as pensioners and children, as well as compound interest rates and combined deposit products with additional conditions, are excluded from this scope.
The average maximum interest rate is determined by calculating an arithmetic mean across these top ten credit institutions. The institutions involved in this monitoring include Sberbank, VTB Bank (PJSC), Bank GPB (JSC), AO ALFA-BANK, JSC Rosselkhozbank, PJSC ROSBANK, CREDIT BANK OF MOSCOW, TBank, Promsvyazbank PJSC, and PJSC Sovcombank.
Data on average maximum interest rates by maturity show that for up to 90 days it stands at 20.63%, for 91 to 180 days at 21.71%, for 181 days to one year at 21.80%, and for over one year at 20.60%.
This monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using information provided by these institutions’ websites.
