The largest Russian banks reduced the rates of ruble deposits

During the last week 5 of 10 Russian banks reduced the rates of ruble deposits. According to experts, banks are preparing for another reduction of the key rate.  

From the 31th of January Sberbank reduced the rates of deposits from 0.1 to 0.25% in the retail segment from 2.95–4.65% to 2.7–4.5% depending on the amount and term of investments. Russian Agricultural Bank on the same date reduced deposit rates by 0.1-0.45 percentage points, the maximum percentage in retail fell from 6.4 to 6% per annum (for a deposit for 4 years with interest paid at the end of the term) . December 29 rates at 0.05-0.2 percentage points VTB reduced it to 4.55% but retained its nominal rates of 5.41-5.68%.

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