The Bank of Russia has released the April 2024 results of its monitoring of maximum interest rates on deposits in Russian rubles for the top ten credit institutions that attract the largest amount of household deposits. The reported rates are as follows:
For the first ten days of April, the rate was 14.83%. This rate remained unchanged during the second ten days of April. In the third ten days, it slightly increased to 14.92%.
These findings are accessible on the Bank of Russia's website, along with data on average maximum interest rates by deposit maturity for reference.
The maximum interest rate at a credit institution is measured by considering rates available to any client without limitations or preliminary conditions. Excluded from this measure are deposits for special categories such as pensioners and children, compound interest rates, and those effective only under certain conditions like regular bank card turnover or maintaining a permanent minimum balance. Combined deposit products with additional conditions are also not considered.
The average maximum interest rate is calculated as an arithmetic mean of these top ten institutions' maximum rates.
The credit institutions included in this monitoring are 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. The Department of Banking Regulation and Analytics conducted this monitoring using information from these banks' websites. The published values serve as indicative figures.
Average maximum interest rates based on deposit maturity were also provided: up to 90 days at 12.96%, from 91 to 180 days at 14.27%, from 181 days to one year at 14.30%, and over one year at 12.72%.