By the end of the year, you can say goodbye to high interest rates on deposits
According to a study by analysts of one reputable financial marketplace, the most popular deposits among Russians in June were six- and three-month deposits. According to statistics, deposits hold leading positions for 6 months. Their share is 31%. They are followed by deposits for three months — 29%.
MK found out from an expert: why our fellow citizens are seduced by short-term deposits.
Meanwhile, demand for deposits urgency one year continued to decline, their share today is 14%. Although recently banks have noticeably improved the conditions for such deposits.
According to some analysts, some clients are looking forward to the meeting of the Central Bank's board of directors at the end of this month. Where the key rate will be increased from 16 to 17 or even 18%. They are hopeful that the deposit rate will also increase at the same time, as has happened more than once in recent months.
“Long-term deposits are traditionally not popular among the population,” says financial analyst Sergei Drozdov. – Most of our fellow citizens do not have money for “long horizons”. Although the prospect of putting it down for a year at a high interest rate is very tempting. However, the average Russian, as a rule, does not know when he will need money. If he opens a deposit for 3 or 6 months, it’s one story, you can get caught, even get into debt. And it’s very difficult to plan something a year in advance.
— Let’s say a person decides to withdraw his deposit ahead of schedule: objective circumstances. Will he not be paid interest?
— Here you need to look at the terms of the contract. Interest may be paid for a certain period, but it will be scanty, certainly not 18 or 17%. Or they may not pay at all. It’s better not to take risks.
In this regard, deposits for 3 or 6 months are preferable
— At the end of July, the board of directors of the Central Bank will raise the key rate to 17 or 18%. Will banks also increase interest rates on deposits? Our fellow citizens really hope for this.
— Those who already have 18% are unlikely to get more, the rate will remain at the same level. Such a high percentage – a preventive measure by banks to retain their clients so that they do not run to other credit institutions. As you know, the Central Bank has allowed transfers of up to 30 million rubles without commissions. This is how individual banks kept their depositors. If the key rate is raised to 18%, the deposit rate will still not change.
— In your opinion, what is the outlook for deposits by the end of the year?
— Most likely, we will pass the peak of inflation, and positive geopolitical changes are expected. If the “stars align,” then the rise in inflation will come to an end. The fiscal momentum that the country has had over the past two years will begin to decline. And we will no longer see such tempting interest on deposits as today.
Events are developing in this direction. Rates will begin to decrease.
The most important thing now is – do not weaken the ruble exchange rate. If it is returned to the range that was at the beginning of the year, inflation will begin again.
— If a citizen today puts money at 18% for six months, the bank may after some time lower the interest rate, taking into account positive changes in economy?
— No. The conditions are fixed in the contract and it will be fulfilled. Now you can still have time to open a deposit and become a little richer.
— What do you advise, for how long? For a year or six months?
— It all depends on the investor’s wallet. If he can hold out for a year, then it’s better for that period. But half a year or three months is also not bad. And why is 18% necessary? Agree that in this case 17% is also a good option.