The Bank of Russia has released the November 2024 results from its monitoring of maximum interest rates on deposits in Russian rubles. The data covers the top ten credit institutions that attract the largest amount of household deposits.
During the first ten days of November, these institutions reported a maximum interest rate of 20.91% on their deposits. Detailed information on changes in these monitoring results is accessible via the Bank of Russia's website.
The monitoring considers maximum interest rates available to any client without restrictions or preliminary conditions. Deposits intended for specific client categories or purposes, as well as those with compound interest or conditional requirements, are excluded from this scope. Similarly, combined deposit products and deposits with varying interest rates over different periods are not considered.
The average maximum interest rate is determined by calculating the arithmetic mean of the maximum rates offered by these top ten credit institutions. These 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.
For reference purposes, average maximum interest rates are provided based on deposit maturity: up to 90 days at 18.63%, 91 to 180 days at 20.11%, 181 days to one year at 20.72%, and over one year at 19.15%.
The Department of Banking Regulation and Analytics conducted this monitoring using data from the websites of these credit institutions.
"Data on changes in monitoring results are available on the Bank of Russia website."