Majority of Russians prefer to open long-term banking deposits

Alfiya Sharafutdinova

Savings activity of Russians is higher this year than the last. From January till September, 2012 growth of deposits made 1186,2 billion roubles against 1102,2 billion roubles for the first nine months 2011. Results of the market analysis of deposits of individuals in the third quarter 2012 were disclosed by the state corporation «Agency on Deposits Insurance» (ASV). For the accounting period the volume of deposits in the banks grew by 224,2 billion roubles — to 13057,6 billion roubles, the department release informs. The forecast of the deposits market in 2012 ASV leaves without changes – by estimations of the Agency experts it will make 16–18,5 percent.

ASV also marks that in the expired quarter smooth growth of deposit rates proceeded: 45 from 100 largest retail banks have increased them. As of October 1, the average level of rates accounted on rouble deposits in the sum of 100 thousand roubles made eight interest per annum — growth by 0,1 p.p. ASV does not expect significant changes in the percentage policy of banks in the near future.

Besides, in its quarterly report the Agency informs about some decrease in the share of deposits in foreign currency — from 18,7 to 18,6 percent and about increase in the long-term deposits share.

#deposit interest rates

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