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Post: Sberbank plans to increase deposit rates soon


Sber stand. Archive photo

Sberbank probably plans to increase deposit rates for mortgage loans as well

MOSCOW, September 20 – RIA Novosti. In the statement made by the bank, it was stated that Sberbank plans to increase deposit returns in the coming days and does not rule out adjusting mortgage interest rates.

In July, in the face of rising inflation risks, the Bank of Russia began to tighten monetary policy and raised its key interest rate by one percentage point. But the sharp weakening of the ruble fueled inflation expectations, and the regulator immediately raised the rate by 3.5 percentage points to 12% annually at an extraordinary meeting in August.

Building of the Central Bank of the Russian Federation - RIA Novosti, 1920, 15.09.2023

Economists predicted the development of the situation with the key interest rate

In September, the regulator increased the key rate once again; this time it increased by only 1 percentage point to 13% annually.

“Due to the increase in interest rates of the National Bank, we do not rule out the possibility of adjusting rates on basic mortgage programs. In addition, in the coming days, Sberbank will increase some deposit rates to make our deposit offers even more profitable for our customers,” the bank said.

In the summer, Sberbank, following the Central Bank, increased mortgage rates twice: first by 0.8 percentage points, then by 2 percentage points. The bank also increased deposit interest rates. As a result, the minimum cost of a mortgage under the bank’s own programs is 13.7%, and the maximum return on deposits is 12%.

Sberbank logo - RIA Novosti, 1920, 20.09.2023

Sberbank issued record mortgages worth half a trillion rubles in August

Source: Ria

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