The Bank of Russia has released the November 2024 monitoring results of maximum interest rates on deposits in Russian rubles for the top ten credit institutions with the largest household deposits. The findings indicate that during the first ten days of November, the maximum interest rate was 20.91%. This rate increased to 21.56% in the second ten days and further rose to 21.98% in the third ten days.
Detailed data on these changes can be accessed through the Bank of Russia's website. Additionally, average maximum interest rates based on deposit maturity are provided for reference.
The calculation of a credit institution's maximum interest rate excludes special categories such as pensioners or children, and specific purposes like social or humanitarian projects. It also does not consider compound interest rates, conditions requiring regular bank card turnover or minimum balances, combined deposit products with additional conditions, and deposits with varying interest periods.
The arithmetic mean is used to calculate the average maximum interest rate among these top institutions: Sberbank (1481), VTB Bank (PJSC) (1000), Bank GPB (JSC) (354), AO ALFA-BANK (1326), JSC Rosselkhozbank (3349), PJSC ROSBANK (2272), CREDIT BANK OF MOSCOW (1978), TBank (2673), Promsvyazbank PJSC (3251), and PJSC Sovcombank (963). This monitoring was conducted by the Department of Banking Regulation and Analytics using information from their respective websites.
For deposits up to 90 days, the average maximum interest rate stands at 19.63%; for those between 91 to 180 days, it is 21.13%; from 181 days to one year, it reaches 21.56%; and for periods over one year, it averages at 20.14%.