The highest average interest rate on rouble deposit accounts at top 10 Russian lending institutions, came in at 9.26% in June 21—30. These numbers were disclosed by the Bank of Russia’s PR department.
In June 11—20, the interest rate was at 9.31%. The indicator keeps shrinking since April 11—20 when it dropped to 9.79% from 9.94%.
Russia’s Top 10 banks, interest rates on rouble deposit accounts of which are counted while calculating the indicator, are Sberbank, VTB 24, the Bank of Moscow, Raiffeisenbank, Gazprombank, Bank Russian Standard, Alfa-Bank, Home Credit Bank, Promsvyazbank and Rosselkhozbank.
Back in Autumn 2012, CBR introduced the new method of the highest interest rate calculation excluding the influence of interest rates on combined deposit products. ’The banking supervisory body will pay close attention to the cases when the established deposit rate deviates from the estimated market average highest interest rate by more than 2%’, the regulator had warned.
