The current deposit interest rates in Russia
Data from the deposit index compiled by analysts at the Russian Financial Services Trading Platform shows that bank time deposits with a three-month term currently offer the highest returns for residents, with an average annualized interest rate reaching 13.68%.
After the Central Bank of Russia reduced its key interest rate to 15% annually on March 20, all of Russia’s top twenty banks adjusted their deposit interest rate offerings; among them, 17 banks lowered their deposit rates, while the rest made varied adjustments—either increases or decreases—depending on the deposit term.
Dmitriy Grizhkevich, Head of Banking and Market Analysis at PSB (Industrial Communication Bank), pointed out: "Even after accounting for inflation, the real interest rate on deposits remains positive, exceeding 6%, meaning that bank deposits still effectively preserve savings value."
A representative from VTB (Foreign Trade Bank of Russia) assessed: "The Central Bank will continue implementing accommodative monetary and credit policies throughout 2026, and as a result, deposit interest rates across various savings-related financial products are expected to keep declining."
1. Optimal short-term deposits: Currently, the preferred investment option in Russia is a 3-month fixed deposit, with a nominal annualized average of 13.68%, the highest level available in the market;
2. Interest rate context: The central bank's rate cut → leading banks follow suit → differentiated adjustments in short-, medium-, and long-term deposit rates;
3. Preservation of value: After adjusting for inflation, the actual net return on deposits exceeds 6%, meaning savings won’t lose value;
4. Future outlook: Russia’s overall monetary policy will remain accommodative through 2026, and future interest rates for all deposits and savings-oriented financial products will continue to decline—this is now a window of high-yield deposit opportunities.
Original source: toutiao.com/article/1863245705486336/
Disclaimer: The views expressed in this article are solely those of the author.