The Bank of Russia has released the results for October 2024 concerning the monitoring of maximum interest rates on deposits in Russian rubles. These figures pertain to the top ten credit institutions that attract the largest amount of household deposits.
For the first ten days of October, the maximum interest rate was recorded at 19.78%. This slightly decreased to 19.66% during the second ten days but increased again to 20.17% in the third ten days.
The data collected can be accessed on the Bank of Russia's website and includes average maximum interest rates by deposit maturity for reference. Specifically, for up to 90 days, the rate is 16.88%; for 91 to 180 days, it is 18.67%; for deposits ranging from 181 days to one year, it stands at 19.39%; and for over one year, it is set at 18.33%.
The methodology used by the Bank of Russia excludes certain types of deposits such as those with compound interest rates or those available under specific conditions like regular bank card turnover or maintaining a permanent minimum balance.
Sberbank, VTB Bank (PJSC), Bank GPB (JSC), AO ALFA-BANK, JSC Rosselkhozbank, PJSC ROSBANK, CREDIT BANK OF MOSCOW, TBank, Promsvyazbank PJSC, and PJSC Sovcombank are among the credit institutions involved in this monitoring exercise conducted by the Department of Banking Regulation and Analytics using information from their respective websites.