The average maximum interest rate has exceeded the Central Bank's base rate for the fifth time in the last two and a half years. For the first time, this happened in early March 2022, when the deposit rate in the top ten banks was 20.51% per annum, and the "key" was 20%.
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The average maximum interest rates on deposits for up to 3 months in the second decade of December 2024 was 20.63% per annum, remaining unchanged compared to the first decade of the month. Deposits from 3 to 6 months were accepted at a rate of 21.71% per annum (an increase of 0.48 percentage points). For a period of six months to twelve months - 21.80% per annum (an increase of 0.24 percentage points), for a period of more than one year - 20.60% per annum (an increase of 0.46 percentage points). When determining the average maximum, rates on short-term bank deposits are considered, which can be opened by any client without additional conditions.
Last week, the largest Russian banks began reducing maximum interest rates, having waited a week after the Central Bank's decision to keep the base rate at 21%.
