Gref announced plans of Sberbank to raise interest rates on deposits

Sberbank will raise deposit rates following the increase in the key rate of the Central Bank, the president and chairman of the board of the credit institution German Gref told reporters during a press conference.

“We have already begun to adjust the rates on deposits. We made a decision on the promotion in August, and by the end of the year we will make the appropriate decisions. Of course, we will raise rates on our various investment products, ”he said.

At the same time, Gref noted that so far Sberbank has not raised mortgage rates. He explained that now, despite the reduction in the conditions of the state program, there is a recovery in the volume of issuance. This is due to the launch of products that compensate for the canceled benefits, explained the head of Sberbank.

Gref added that now there is also an increase in demand for mortgages for families with children. If in June the bank’s clients issued 3,000 such loans, then in August – already 4,500.

“Therefore, the demand for mortgages continues, and in general we will try to support it in every possible way – through joint programs with developers, and we will try to maintain the minimum acceptable level of rates in the market for us,” he said.

On September 10, the Board of Directors of the Bank of Russia raised the key rate for the fifth time in a row. Now it is 6.75% per annum – this is the maximum level since October 2019.In general, the regulator has been raising the indicator since March 2021 against the background of accelerating inflation in the country, which by August reached a record 6.68% per annum since August 2016 expression. Following the actions of the Central Bank, banks began to raise rates on mortgages and deposits.

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