Interest rates on bank deposits may rise to 30% by the new year
The average maximum interest rate on deposits has twice exceeded the 20% per annum mark in the largest Russian banks.
Experts are confident that this is not the limit, and a new record will be set in November-December.
On the eve of the new year, rates may even rise to 30% per annum, Kommersant writes.
In the third ten days of October, the average maximum rate on deposits reached 20.17% per annum.
Russia's largest banks responded in this way to the October increase in the key rate to 21%.
Considering the Central Bank’s intention not to limit itself to 21% in the matter of raising the key rate, the growth of deposit rates may continue.
Experts predict an increase in annual interest rates on deposits to 22–24% with an increase in the key rate to 23%.
There remains a high probability that by the new year, deposit rates of 25-30% per annum will become the norm for most banks.
