Average maximal interest rate on ruble deposits grows to 6.43% in early October

TASS Russian News Agency | Oct 13, 2021 at 7:03 PM

MOSCOW, October 13. /TASS/. The average maximal interest rate on ruble deposits with the ten Russian credit institutions having the maximal amount of private deposits totaled 6.43% from October 1 to 10, the Central Bank of Russia said on Wednesday.

According to the regulator, the rate was 6.32% also in late September.

Deposit interest rates are monitored by the regulator in Sberbank, VTB, Tinkoff Bank, Raiffeisenbank, Gazprombank, Credit Bank of Moscow, Alfa-Bank, Bank FC Otkritie, Promsvyazbank, and the Russian Agricultural Bank.

The regulator said earlier that it would keep an eye on cases when the bank's interest rate for ruble deposits is more than 2 percentage points higher than the average one for ten monitored banks. The decision taken by the Central Bank is aimed at reducing the interest risk for banks arising when attracting retail deposits at rates above the market ones and contributes to financial stability of credit institutions, the regulator said.