Rates on deposits have reached a minimum

Return on deposits does not cease to decline since the beginning of the year. Central Bank of Russia conducts constant monitoring of indicators of the banking market. According to recent data, in October, the average yield on deposits for the population decreased by 0,1% to 5,8% per annum. In January the rate was 8,9%, ie over the past ten months, yield decreased by 3.1%. Bank offers retreated to the crisis period, when a similar figure was reached in August 2008. Worse things were only in January 2001, while the yield on deposits fell to the level of 3,3%. If we take the rate of return on deposits without deposit "on demand", there is also observed in the negative dynamics: the first ten months, the yield decreased by 3.6%, reaching 7,1%. In calculating these parameters were not considered the proposal a leader of the banking sector - Sberbank, which benefit from the allocation of funds is 0.01% to 6% per year. Decline in market interest rates of deposit services does not lead to a reduction in the popularity of this product. On the contrary - there is a significant growth in savings of Russians. Also worth noting that not all banks reduce their interest rates. Recently Uniastrum Bank announced an increase deposit rates to 9.10% per annum.