The restricted generosity of the banks is explained by the fact that the high key rate will not last long
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Following a sharp increase in the Central Bank’s key rate, commercial banks also began raising their rates. We are talking about new deposits that are opening now. The above rates are fixed and cannot be changed.
Recall that the key rate of the Central Bank on Tuesday rose from 8.5 to 12% per year. The banks, although not voluntarily, also began to increase the yield on deposits. Some banks have already raised them now. At the same time, some banks decided to start a new life on Monday. The most interesting offers are for deposits of 3 to 6 months. Banks are not prepared to lock in a high yield for a longer period.
According to analysts, the restrained generosity of banks is explained by the fact that the high key rate will not last long. Most likely, the scenario is similar to what happened last spring. Then the Central Bank also drastically raised the rate, up to 20% per year. This was necessary to overcome the sharp weakening of the ruble and the acceleration of prices. As soon as the ruble began to strengthen and inflation slowed down, the Central Bank began to reduce the key rate.
Most experts are expecting a similar scenario now. The Central Bank’s goal for next year is to reduce inflation to 4%. She didn’t change. And this means that the key rate will have to gradually decrease to 6-7% per annum.
However, there is no point in rushing to place funds. Banks need time to agree and change the fee policy. Most likely, even more interesting offers will appear in a week and a half. Banks will start fighting over citizens’ funds and give a little more competition. Then the rates can go up to 13 or even 14% per year.
LIFE HACK
Is it worth withdrawing money and placing it in a new deposit?
Many bank clients have a reasonable question. Here they have one or more open deposits in different banks. For different amounts, for different periods. Is it worth it now to close them and put money at a higher interest rate?
All banks have different conditions for deposits, but on average such a “fraud” can only make sense if your deposit has been open for less than three months.
– If so, then you can safely close the existing deposit and lose the accrued interest, and then open a new deposit under more interesting conditions. So it will be more profitable.
– If the deposit was opened more than three months ago, it is easier to leave everything as it is and not move. Separate a small amount from your next payroll and open a deposit at new rates with the possibility of replacement.
Where is it profitable to place rubles?
The yield on deposits at Otkritie Bank is 11% per annum, MKB – 11%, Gazprombank – 11.3%, Post Bank – 12%, Alfa-Bank – 12% (according to the official websites of banks).
PS Each bank has different terms and conditions for calculating interest. In order not to be mistaken, consult them in the branches, on the websites or in the mobile applications of the banks.
