Sberbank has reduced rates on foreign currency deposits :: Finance :: RBC

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Sberbank has reduced rates on deposits in foreign currency

The decrease of all the rulers of foreign currency deposits ranged from 0.04 to 0.5 percentage points. Sberbank explained the change in rates as a general trend for a decline in the market

Photo: Evgeny Leonov / TASS

Sberbank since March 7, reduced rates on deposits in dollars and euros in all lines. This was reported to RBC by the press service of a financial organization. The decrease was from 0.04 to 0.5 pp

In particular, interest rates on basic and online dollar deposits were reduced by 0.04-0.15 pp, rates on dollar deposits for premium package owners (Sberbank Premier, Sberbank First and Sberbank Private Banking ) – 0.25 pp The reduction in rates on euro deposits for premium package owners (Sberbank First and Sberbank Private Banking) ranged from 0.14 to 0.5 percentage points.

Sberbank explained the decision to change rates based on a general downward market trend.

Previously, rates on foreign currency deposits have lowered the VTBs. Thus, for example, a decrease in euro deposits was on average 0.25 pp. For dollar deposits, the maximum effective rate for mass customers decreased by 1.1 percentage points. At the same time, according to the data of December 2018, VTB represented more than half of the total funds for foreign currency deposits in Russian banks, ie 1 billion dollars. In total, Russian foreign currency deposits in the top 10 banks of the country increased by $ 1 last month, $ 9 billion and amounted to $ 58.9 billion as of January 1, 2019



The Russians have halved the volume of short-term foreign currency deposits




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