The June 2024 results of the monitoring of maximum interest rates on deposits in Russian rubles by the top ten credit institutions attracting the largest amount of household deposits are as follows:
For the first ten days of June, the rate was 15.69%, and for the second ten days, it was 16.00%. Data on changes in monitoring results are available on the Bank of Russia website. Data on average maximum interest rates on deposits by maturity are provided for reference.
The maximum interest rate at a credit institution is measured based on several criteria:
- Maximum interest rates on deposits available to any client without limitations and preliminary conditions are considered. Deposits for special client categories (pensioners, children) and purposes (social, humanitarian, etc.) are excluded.
- Compound interest rates on deposits are out of scope.
- Interest rates effective under certain conditions (e.g., regular bank card turnover, a permanent minimum balance) are not taken into account.
- Combined deposit products with additional conditions for higher interest accrual (e.g., purchase of investment units, opening an investment account) are not considered.
- Deposits with varying interest rates over different periods are out of scope.
The average maximum interest rate is calculated as an arithmetic mean of the maximum interest rates of the top ten credit institutions.
These institutions include Sberbank, VTB Bank (PJSC), Bank GPB (JSC), AO ALFA-BANK, JSC Rosselkhozbank, Bank Otkritie Financial Corporation (Public Joint-Stock Company), CREDIT BANK OF MOSCOW, Tinkoff Bank, Promsvyazbank PJSC, and PJSC Sovcombank. The monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using information provided by these websites. The published values are indicative.
Average maximum interest rates on deposits by maturity were also reported: up to 90 days at 14.15%, from 91 to 180 days at 15.23%, from 181 days to one year at 15.87%, and over one year at 14.85%.
Reference to the Press Service is mandatory if this material is used.