Russian banks began to raise interest rates on deposits

Thus, PSB improved the conditions for depositors on five of the bank's six products, raising rates from 1.45% to 1.5%. Post Bank raised rates for the entire line of deposits by 0.25-0.35%. Bank Otkritie has increased rates by 0.2-0.5%, RIA Novosti writes.

Director of the Institute for Strategic Analysis of the company "Financial and Accounting Consultants", economist Igor Nikolayev believes that the increase in interest rates on deposits is natural after the increase in the key rate of the Central Bank of the Russian Federation.

“What is an increase in the key rate? This means that the Bank of Russia lends money to commercial banks at a higher interest rate. That is, money for them becomes more“ expensive”. In such a situation, the general rule applies to everything, including deposits that citizens open in these banks", - he explained in an interview with Sputnik radio. The economist added that following the rise in deposit rates, an increase in loan rates should be expected.

As a reminder, on April 23, the Bank of Russia raised its key rate by 0.5 percentage points - from 4.5% to 5% per annum. Prior to that, on March 19, the regulator also raised it by 0.25 percentage points - from 4.25 to 4.5%. At previous meetings, the Bank of Russia left the key rate at 4.25% four times.