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Experts predict record deposit yields in the coming months
Analysts predict that interest rates on deposits will grow significantly in the coming months. As Kommersant reports, experts predict that by the end of the year, deposit yields may exceed previous records and reach a historical maximum.
"Experts believe that the historical record (in terms of deposit yield) will be broken in early November. By the end of the year, this figure will exceed several more percentage points, and during the pre-New Year marketing campaign, this figure could reach 30% per year," Kommersant wrote.
It is estimated that if the base interest rate is raised to 23% per annum, the interest rate on deposits in large banks is expected to grow to 22-24% per annum, depending on the term of the deposit. Alexey Voylyukov, MBA professor of business practice in digital finance at RANEPA, predicts that by the start of the New Year promotions, an interest rate of 25% per annum will become the norm in most credit institutions. As part of their marketing campaigns, individual market participants may offer rates of up to 30% per annum.
In 2024, Russian residents can expect record levels of returns on their bank deposits. As reported by Izvestia, Russians' income from savings is expected to double compared to last year.