Why you should hurry up with opening rouble contribution

In December of last year, most banks in the ten largest left unchanged rates on ruble-denominated deposits decreased only three players. Now the average rate of the annual Deposit is of 7.64% per annum. To open the contribution for the year remains the most profitable, interest rates on short-and long deposits below. Deposit interest rate for three years reduced by almost 1 p. p., it is an average of 6.67% per annum. To open a Deposit for a month more less profitable, as the average yield of 6.24% per annum.

At the beginning of last month the stakes were a little higher: opened in December, the contribution for the year the depositor would get a rate of 0.15 p. p. higher current, that is of 7.78% per annum. Even more over the past month has changed the Deposit rate for two years — now she is 6.95% per annum instead of 7.15%. While interest rates on short-term deposits has not changed: the deposits of one and two months will still bring to the depositor, respectively, of 6.24% and 6% per annum.

In December, banks did not reduce the rates because the reasons for this was not, says the Director of the Department of passive, insurance and investment products of the Bank “Opening” Vadim Pogosian. The role played by the seasonal factor — before the holidays, the banks almost always offer deposits with higher yield or at least keep rates unchanged, said the Director of Department of monitoring of banking products marketing agencies MARCS Natalya Abramova. The maximum rate banks are still reduced, but the decline was not as significant as in previous months, she said.

In addition, some players changed the conditions of reception of contributions, which are paid maximum interest. So, included in the sample of RBC Bank at an annual rate of the Deposit “Maximum percentage” in December was 9.5% per annum. However, in the same month, the Bank raised the minimum amount to open this Deposit from 10 thousand to 10 million rubles. So now, the study takes into account the RBC Deposit rate of the Bank “Monthly income”, which is much lower in the beginning of January, it stood at 7.45% per annum.

Now the most high rates on ruble deposits for the year in ICB and Sovcombank. They offer a 9.25 and 9% per annum, respectively. The best three — year deposits in Rosselkhozbank and sovkombank. The “Classic” Deposit in the agricultural Bank will bring to the investor of 8.3% per annum, and the “Maximum income” Sovcombank — 8% per annum. The highest rates on deposits for the month also offered by these banks.

Despite the lower rates, the yield of ruble deposits at year-end exceeded inflation. The investor, who Deposit at the beginning of 2016, the end of the term, could earn an average of 9.8% per annum. Inflation in 2016, according to preliminary estimates of Rosstat, amounted to 5.4%.

Next year the yield on deposits will also exceed inflation, according to Pogosyan of Bank “Opening”. The Bank of Russia intends to reduce it to 4% by the end of the year, and rates on deposits should be higher than this figure. Therefore, we can say that ruble deposits will help to save money, but not the fact that savings will be able to increase, he said. “Keep in mind that the official inflation and rise in prices of consumer basket in a separate family are different. That is, it is unknown if it will work on the accumulated funds to purchase more than in the beginning of the year — it depends on the costs in each specific case”, — said the banker.

At the beginning of the year rates may decrease due to the end of new year promotions, says Abramov from MARCS. Thus, proposals with higher rates is already there in the savings Bank, she said. Overall in 2017, according to the respondents RBC experts, Deposit rates will continue to decline. Main cause of this situation, the financiers called the policy of the Central Bank. In December, the Director of the Department of studies and forecasting of the Bank of Russia Alexander Morozov said that in four percent inflation, the key rate will be around 6.5% per annum. “The potential for reducing rates now is great, but I don’t think that the key rate and Deposit rates really decline so severely,” said Pogosyan of “Discovery”. Deputy Director of Department of development of retail products of the Bank Natalia Menshova believes that the rate of the Central Bank during the year will decrease by 1-1,5 PP At the same sharp decline in interest rates on deposits will not happen — at current rates already incorporated the expectation of a reduction of the key rate, she said. “Given that Deposit rates are reduced with some advance, it can be assumed that until the end of 2017, the maximum possible reduction of interest rates on deposits — a 1.5–2 percentage points” — experts predict.

In the face of declining rates, it is advisable not to postpone the Deposit, recording the yield, advises Menshova from the Bank. “It is quite reasonable to open a replenishable deposits in rubles for a year,” she says. Abramova from MARCS also advises to pay attention to the Deposit with possibility of replenishment. According to her, banks now often offer investors profitable deposits for a short time. “For the mass market a good bet, probably will be 8.5% per annum. Under such a percentage can be found growing on one-year deposits or up to six months”, — the expert believes.