The results for April 2024 regarding the monitoring of maximum interest rates on deposits in Russian rubles by the top ten credit institutions attracting the largest household deposits have been released.
For the first ten days of April, the maximum interest rate stood at 14.83%, and this rate remained unchanged for the second ten days of April. These findings are accessible on the Bank of Russia's website, where changes in monitoring results can also be found.
The maximum interest rate at a credit institution is measured by considering only those deposit interest rates available to any client without limitations or preliminary conditions. Deposits tailored for special client categories or specific purposes are excluded from this measure. Additionally, compound interest rates and those requiring fulfillment of certain conditions, such as regular bank card turnover or maintaining a minimum balance, are not considered. Combined deposit products with additional conditions are also out of scope.
The average maximum interest rate is calculated as an arithmetic mean from these top ten credit institutions. The list includes Sberbank, VTB Bank (PJSC), Bank GPB (JSC), AO ALFA-BANK, JSC Rosselkhozbank, Bank Otkritie Financial Corporation (Public Joint-Stock Company), PJSC ROSBANK, Tinkoff Bank, Promsvyazbank PJSC, and PJSC Sovcombank. This monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using information provided by these banks' websites.
Average maximum interest rates on deposits are also available for different maturities: up to 90 days is 11.95%, from 91 to 180 days is 14.53%, from 181 days to one year is 14.41%, and over one year is 12.53%.