Sberbank has reduced rates on deposits

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www.vsyako.netPhoto: Alexey kudenko / RIA Novosti

Sberbank has lowered the maximum rate on ruble and foreign currency deposits, reports TASS with reference to the press service of the credit institution.

There is indicated that the decrease will be from 0.45 to 0.55 percentage points in rubles and from 0.05 to 0.75 percentage points in dollars “depending on the period, the amount of grading and the availability of options of depositing and withdrawing funds.”

Thus, the maximum rate under rouble contributions now stands at 5.05 per cent per annum for foreign currency — 1.35 percent.

It is noted that the reasons for the lower rates on deposits was the reduction of the key rate of the Central Bank and increasing the required reserve ratio from 7 percent to 8 percent.

The Bank of Russia lowered its key rate by 0.25 percentage points to 7.5 per cent per annum on July 14. The decision was made on the background of lower inflation risks and inflation expectations from the population.

Video, photo All from Russia.

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