Interest on deposits in Russia falls to minimum of 2014

In Russia the rates on deposits have fallen to the lowest level since July 2014.

According to the Central Bank, the average rate on the deposit is 9.13%. It is worth noting that in its calculations the Central Bank took the data of ten largest (in terms of attracted deposits of individuals) Russian banks: Sberbank, VTB 24, Gazprombank, Alfa-Bank, Rosselkhozbank, VTB Bank, Raiffeisen Bank, BIN-Bank, Promsvyazbank and Khanty-Mansiysk Bank ‘Otkrytiye’ , RBC reports.

Recall that in July 2014 the average interest on deposits was 9.005% per annum.