How long will deposit rates continue to grow?

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Most bankers expect the peak yield on deposits to pass at the end of this – beginning of next year, but how much and when rates go down will depend on the rate of decline in the key rate of the Central Bank. About this “Vedomosti” was told in eight banks from the top 30 in terms of funds of citizens. But the range of bankers’ assessments turned out to be significant: some of them expect that deposits will keep the yield at 9% by the end of 2022, and some – that it will be barely above 6%.

VTB, Sovcombank, Dom.RF and Zenit Bank have the highest estimate of the peak in the cost of attracting citizens’ money – they believe that the average market value of rates at the peak can be from 8.3 to 9.5% per annum. Maximum deposit rates on the market at the end of this year – early next will be in the range of 8.5-9%, predicts the head of the “Savings” VTB Bank Maxim Stepochkin. At the end of 2022, the average maximum rate on the market, according to VTB estimates, will not exceed 7-7.5% per annum, he added.

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