Banks told how deposit rates will change in spring

MOSCOW, February 28 – RIA Novosti. Most Russian banks do not plan to raise deposit rates in the near future, although some are going to offer Russians spring shares, lending institutions told RIA Novosti.

Rosselkhozbank, OTP and Alfa-Bank raised deposit rates in February. Bank “Otkrytie” said, without specifying the time, that it had already offered clients “a deposit with an increased rate.” Novikombank and Uralsib have launched seasonal offers. Spring and promotional deposits are prepared by St. Petersburg, Sovcombank and Promsvyazbank (PSB).

At the same time, Dom.RF Bank is going to change rates for the main line of retail deposits in the near future.

“At the moment, we are considering a scenario with an increase in rates by 0.2-0.5 percentage points, which reflects the market situation,” said Evgeny Shitikov, director of retail products at the bank.

MinBank did not rule out that it will soon consider the issue of raising. RNKB, Russian Standard, Zenit, Ak Bars, SMP Bank and Uralsib do not plan to do this in the near future.

VTB said that maintaining the key rate of the Central Bank remains “a trigger for maintaining the current level of rates in the market.” Home Credit Bank did not disclose its plans, but explained that in addition to the refinancing rate, it focuses on the market and the economic situation in general. Sberbank does not comment on changes in the terms of the products until their official entry into force.

“According to our preliminary estimates, interest rates on deposits will rise smoothly over the course of this year. This will be primarily due to the decision of the Bank of Russia to end the period of easing monetary policy amid reaching a balance of disinflationary and pro-inflationary factors,” said an analyst at Home Credit “Stanislav Duzhinsky.

The regulator previously for the fourth time in a row kept the key rate at 4.25 percent per annum.

Author: wedocount

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