Almost every day there is news from banks that deposit rates are declining. Despite this, deposits will remain the most popular tool for saving and increasing the funds of the population, as they are guaranteed by the state. The question arises: will the deposit rate decrease further? And what does 2014 have in store for investors?

Most bankers are confident that the decline in deposit rates in 2014 (at least in the first half) will continue. Experts attribute this trend to the fact that The Bank of Russia began to take an active part in regulating the maximum interest rate trying to limit its growth. If earlier its actions were limited to recommendations for market participants, then in the future they will take the form of instructions binding on banks. The benchmark will be the average deposit rate for the TOP-10 banks in the country, some of which have already lowered their levels of profitability.

Another reason for lowering the rate on analyst deposits Bank Home Credit Stanislav Duzhinsky sees in slowdown in consumer lending . According to the Bank of Russia, the increase in the loan portfolio of unsecured loans amounted to 37.3% in annual terms as of September 1, while a year ago this figure was 59.7%. As a result, banks are not so strongly interested in significant amounts of borrowed funds, since they must maintain a balance between the growth of their assets and liabilities.

Table 1 - Behavior of deposit rates in 2014

Expert	Forecast
Oleg Demin, Advisor to the Chairman of the Board of SKB-Bank	In 2014, the maximum level of interest rates on deposits will not exceed 10%.
Dilyara Ermakova, Managing Director of Bank BCC-Moscow LLC	There is every reason to believe that the downward trend will continue into early 2014.
Maxim Chubak, Deputy Head of Loyalty Programs and Development of Work with Client Segments, Nordea Bank	In 2014, we can expect the formation of a trend towards a gradual reduction in rates, smooth and long in time.
Stanislav Duzhinsky, analyst at Home Credit Bank	Decrease in interest rates on household deposits is likely to continue
Vyacheslav Nagirny, Deputy Head of the Retail Business Department, Loko-Bank	We expect rates to fall in the first half of the year and stabilize in the second.
Galina Utkina, Director of the Department of Deposits and Commission Products, Renaissance Credit	At the beginning of next year, rates on deposits of individuals will not differ much from current offers; sharp changes in interest rates on deposits in early 2014 are also not expected.
Maria Zhelonkina, Head of Deposits and Investment Products Management, Raiffeisenbank	We expect the downward trend in rates to continue in 2014 as well.
Svetlana Khmeleva, chief accountant of OJSC CB "AGROPROMCREDIT"	The downward trend in rates will continue in 2014, unless there are any unforeseen circumstances.
Rodion Lomivorotov, Head of Macroeconomic Research Department, OTP Bank	Deposit rates will go down.
Irina Volis, Head of Banking Products Department, GLOBEXBANK	The rate cut trend will continue until the end of 2013 and early 2014.

What about the laws?

With regard to innovations in legislation, as noted by the Managing Director Bank BCC-Moscow LLC Dilara Ermakova, legislative changes have already affected deposits. Yes, in October The Central Bank received the full right to regulate the profitability of deposits (letter of the Bank of Russia No. 172-T of 09/04/2013). So far, the Central Bank has not exercised this right, but is monitoring "problem banks", whose rates are more than 11%. Some banks have already received orders to reduce them to "recommended".

Besides, in September, the State Duma of the Russian Federation approved in the first reading a bill to increase the sum insured to 1 million rubles . The second and third readings are still ahead, the nuances of this bill will be finalized. Most likely, says the director of the department of deposits and commission products "Renaissance Credit" Galina Utkina, we should expect the adoption of this bill next year, which will certainly be a positive event for investors.

However, this bill contains provisions for increased contributions to the insurance fund , therefore, banks will have to pursue a more conservative policy in the field of attracting funds from individuals or raise funds at a somewhat higher cost.

The introduction of a differentiated approach to contributions to the insurance fund, depending on the degree of risk, has been discussed for quite some time, the analyst said. Bank Home Credit Stanislav Duzhinsky. In other words, if the bank sets a higher interest on deposits, then it pays a larger amount of deductions to the insurance fund . Stanislav Duzhinsky considers this initiative logical, so, in his opinion, if one market participant adheres to a more risky business model, it will be fair if he feels a greater burden of maintaining the stability of the entire banking system, compared to more conservative colleagues. In its mechanics, this approach is close to the auto insurance system. If the driver behaves more risky on the road, has any accidents in his driving history, then the amount of insurance payments for him will be higher compared to a cautious driver.

Chief Accountant OJSC CB "AGROPROMCREDIT" Svetlana Khmeleva explained that there is expectations in the market of changes in tax legislation in terms of taxation of income on deposits . There is an understanding that the tax burden should be the same for different types of assets, be it securities, real estate, deposits. The tax code is being adjusted in order to bring taxation into balance. It is too early to talk about a change in the tax burden on income from deposits in 2014, although in the future an equal burden on income received from different types of assets will most likely be enshrined in tax legislation.

Explaining the comment of Svetlana Khmeleva, it can be noted that back in September, the Group for the creation of an international financial center (IFC) prepared amendments to the Tax Code and the law on the securities market, that increase the attractiveness of investments in shares and reduce the attractiveness of deposits . So according to the innovation, those investors who keep money on high-yield deposits will lose tax benefits. According to the new draft, income from deposits will be taxed, the rates for which are higher than the refinancing rate by 3 percentage points. on ruble deposits and 7% per annum on foreign currency.

So, let's sum up. The rate on deposits until the end of 2013 and in the first half of 2014 is likely to continue to decline. However, the reliability of deposits will increase due to an increase in the amount of deposit insurance from 700 thousand rubles. up to 1 million rubles.

Back in the summer of 2014, Sberbank announced that it did not intend to raise deposit rates. But in December, everything changed: the ruble exchange rate broke all “anti-records”, the key rate soared by 6.5 percentage points, and panic began among depositors. Banks, including those from the top 10, have raised deposit rates to 20% or more. How long will this last, and what will happen to deposit rates in 2015?

How was it in 2014?

At the beginning of the year, the average maximum rate under the terms of the top 10 organizations that attract the largest amount of funds from the population was 8.3%, but since January the figure has been steadily growing. The reason is the lack of liquidity in banks.

Devaluation expectations began to affect the behavior of depositors in the autumn of 2013 and intensified in the spring of 2014. Russians for the first time in many years doubted the reliability of ruble investments and began to buy up foreign currency. The annual growth of deposits turned out to be insignificant and for the most part represents a currency revaluation.

If the dynamics was even for the first 11 months, then in December there was a jump - in just one decade of December, deposit rates soared by almost 5 percentage points. (from 10.6% to 15.3%).

Where did they come from?

What's going on with the system?

Economic Development Minister Alexei Ulyukaev believes that Russia is currently experiencing three crises, caused by rising costs, reduced demand and a negative foreign policy situation. The state prints out the Welfare Fund to save the largest banks that fell under the sanctions.

Oleg Tinkov believes that in addition to this, the country is experiencing an on-lending crisis, which Russia is experiencing for the first time.

The aggravation began with the “Ukrainian crisis” and the annexation of Crimea. For expanding borders and disagreeing with the position of the United States and Europe on the Ukrainian “issue”, Russia is paying with sanctions. The banking system and the state of the ruble shook after the first wave of sanctions, but then it was not so obvious. Moreover, structural factors began to slow the economy long before the fall in oil prices and the announcement of fines.

General economic problems reduce the solvency of clients of financial institutions. Demand for banking services is declining. Borrowers face difficulties in repaying loans, which worsens bank portfolios. Overdue debt is growing, and with it, banks' contributions to reserves, which further reduces the profits of credit institutions.

Sanctions limit Western funding, and other economic problems make it difficult to raise funds from domestic sources. The massive outflow of investments in December was stopped only thanks to high deposit rates, which banks have nothing to recoup so far.

Note!

The massive outflow of investments in December was stopped only thanks to high deposit rates, which banks still have nothing to beat back

Forecasts are regularly updated in the negative direction. Few people are already waiting for the return of oil prices at $100, most likely, in the next few years, the price of Brent will not exceed $60-70 per barrel. International rating agencies are downgrading Russia's rating. The country was in the top 5 countries with the highest probability of default.

Anti-crisis measures of the government

In connection with the force majeure situation, which the government considers the December collapse of the ruble, the authorities have adopted several provisions that facilitate the flow of investment in financial institutions.

If earlier the amount of insurance compensation for deposits in case of bank failure was 700 thousand rubles, now it has been increased to 1.4 million rubles.

The non-taxable personal income tax rate on deposits has been increased. Now up to 18.25% of interest income from ruble deposits are tax-free, but this condition will be valid only until December 31, 2015. Previously, this threshold was 13.25% for ruble programs. For foreign currency deposits, non-taxable income will still be 9%.

The Central Bank increased the allowable deviation of deposit rates from the maximum average market values: if earlier the difference should not exceed 2 percentage points, now the deviation has been increased to 3.5 percentage points. In the first decade of January 2015, the average maximum rate was 15.33%. Accordingly, banks can easily offer 18.83%.

An increase in interest on deposits always entails an increase in lending rates. And here it is worth mentioning another anti-crisis measure: until July 1, 2015, the regulator will not limit the full cost of the loan. It was previously planned that from the beginning of this year, banks will not be able to set interest rates that are more than a third higher than the estimated average value of conditions for the corresponding type of lending.

What are the predictions?

No expert will undertake to give accurate forecasts, since many factors are involved, the behavior of which cannot be predicted. Even the current situation is not completely clear: after the December “shock”, no one can yet determine how much money is now worth. Therefore, we can only outline the most likely scenario.

The high interest rates that appeared in December 2014 stopped the outflow of deposits, but at the same time inflation accelerated. According to the results of the year, it exceeded 10%, and in 2015 it cannot be ruled out that it will increase to 14%, no matter what the Bank of Russia says about inflation targeting. For certain groups of goods, inflation may exceed 20%.

Note!

High interest rates that appeared in December 2014 stopped the outflow of deposits, but at the same time inflation accelerated

Based on the current conditions, a new increase in deposit rates is not to be expected. On the contrary, they will decline. Most of the organizations "slowed down" in December - almost immediately after the increase, as the new conditions were very attractive, and the outflow was quickly replaced by inflow.

Much will depend on the level of the key rate. Its reduction will ensure the reduction of both deposit and loan interest.

Current conditions

Sberbank

On a non-replenishable deposit without the possibility of partial withdrawal "Save" for a period of 1 month to 1 year, the yield will be 9.2% -10.52%, and from 1 year to 3 years - 8-41% -10.29% from capitalization. For deposits in US dollars, the rates with capitalization for the same periods will be 1.08% -5.05% and 3.15% -4.13%, in euro - 1.8% -4.95% and 2.95% - 3.92% respectively.

The rate with capitalization on replenished, but without the possibility of making debit transactions on the "Replenish" deposit will be 9.63% -9.26% for a period of 3 months to a year and 7.98% -9.58% for a period of 1- 3 years. In dollars, rates with capitalization for the same periods will be 3.46% -5% and 3.08% -4.02%, respectively, and in euro -3.46% -4.9% and 2.86% -3, 82%.

The “Manage” deposit allows partial withdrawal and replenishment. Interest for a period of 3 months to a year - 9.27% ​​-9.88%, from a year to 3 years - 7.28% -8.51% with capitalization. When opening in dollars, the yield will be 3.41% -4.95% and 2.86% -3.92% with capitalization, respectively, in euros - 3.4% -4.85% and 2.65% -3.71 % with capitalization.

For comparison, back in the spring of 2014, the range of interest on the "Save" deposit in rubles was 4.4% -7.76%, "Replenish" - 4.6% -7%, and "Manage" - 4% -6.68 %.

When opening through the Sberbank Online Internet bank, the conditions for these deposits will be better by 0.4-1 p.p.

On the "Multicurrency" deposit (replenished, but without partial withdrawal), issued for 1-2 years, interest with capitalization will be 0.01% -8.18% in rubles, 0.01% -3.96% in dollars and 0 .01%-3.75% in EUR.

Rosselkhozbank

The ruble deposit "Maximum savings" for a period of six months to 2 years is issued at 12.7% -16%, but the minimum amount is 1.5 million rubles. With a similar amount, you can open a "Golden" deposit for a period of 3 months to 4 years at 14% -17% in rubles, 2.8% -6.1% in dollars and 2.3% -5.6 % In Euro.

More "democratic" deposit "Classic" without debit transactions and the possibility of replenishment will bring up to 13.25% in rubles, up to 5% in dollars and up to 4.75% in euros.

A “managed” deposit with replenishment and spending options is a maximum of 11.4% in rubles, 4.25% in dollars and 4.05% in euros.

Previously, the maximum profitability of the offers of Rosselkhozbank was 10.4%.

VTB 24

The most profitable product is the “Your Bonus” ruble deposit without partial withdrawal and replenishment for a period of 1-3 months with a minimum amount of 100 thousand rubles at 14.2% -15.2%.

The second in terms of profitability is the Profitable deposit for a period of 3 months to 5 years. With a term of 91-395 days, the rates with capitalization in rubles will be 9.09% -13.24%, 2.25% -5.55% in US dollars and 2.25% -5.34% in euros. With a term of 546 days or more: 8.24% -9.78% in rubles, 3.41% -5.61% in dollars and 3.19% -5.4% in euros.

For products that allow partial withdrawal or replenishment (“Comfortable”, “Cumulative”), the yield does not exceed 11.5% in rubles, 5.56% in dollars and 5.34% in euros.

Just a year ago, the maximum deposit rate of VTB 24 did not exceed 8.6%.

Alfa Bank

This bank was one of the first to raise rates on deposits in the “stormy” December and one of the first to lower them.

Deposit "Victory" without replenishment and debit transactions: 11.71% -16.08% for a period of 3 months to a year and 14.99% -17.28% for a period of one to 3 years in rubles. In US dollars, the yield for the corresponding periods will be 2.61% -6.17% and 5.83% -6.56%, and in euro - 2.61% -5.64% and 5.29% -5.96 %.

Previously, the maximum income under this program was 11.87%.

Deposit "Premium", which allows you to withdraw interest on a monthly basis: the yield in rubles for the same period will be 11.6% -15% and 13.6% -14%. When opened in foreign currency, the maximum rates are the same for all terms exceeding one year: 2.6%-6% in dollars and 2.6%-5.5% in euros.

The ability to replenish and spend funds (deposit "Potential") reduces the yield to 8.10% -10% in rubles, 1.4% -4.5% in dollars and 1.4% -4% in euros.

During 2013, deposit rates steadily decreased. The average rate at the end of 2013 was 8.4% per annum, which is close to official inflation. The question is: “Do deposits provide at least some kind of profitability at all?”.

Answer: in 2014, the average rate will continue to decrease due to the limitation of consumer rates. According to experts, the fall will occur by 1 - 1.5%.

“As the banking sector recovers from the events of December 2013, we will see a continuation of the downward trend in rates. Rates are pegged to the level of inflation, in the outgoing year there was no decrease in it, however, there is every reason for this to happen next year. As inflation rates fall, the refinancing rate and deposit rates will decrease.”, - comments Alexander Cherstov, a member of the All-Russian Association of Entrepreneurs "Club of Leaders". The banker also believes that by the end of next year, rates may fall by 1.5-2%.

Stanislav Duzhinsky, an analyst at Home Credit Bank, explains that the decline in deposit rates in 2013 was caused by a reduction in lending to individuals. “As a result, banks, seeking to balance the growth of their assets and liabilities, reduced deposit rates. Starting next year, a new law “On Consumer Credit” comes into force, which provides for limiting the upper value of interest rates on loans, as well as changing the procedure for accruing reserves and calculating capital adequacy for individual loan portfolios, the growth rate of loan portfolios will continue to slow down. According to preliminary estimates, in 2014 it will be 15-20% against 28-29% expected at the end of 2013. This allows us to assume that the trend of reducing deposit rates in 2014 will continue.”, - emphasizes S. Duzhinsky.

“Most likely, in early 2014, rates will slowly decline, continuing the trend of last year. It should be borne in mind that now banks are not striving to greatly increase deposit rates, even taking into account the pre-New Year's hype, and they offer fewer seasonal deposits. So, even taking into account a slight seasonal increase in rates in March-May 2014, deposit rates will continue to decline.”, - says Maria Chetverikova, head of the insurance and passive products department of Otkritie Bank.

Pavel Sakadynsky, director of the Moscow branch of CB "Energotransbank" draws attention to three important points. Firstly, the Central Bank takes part in the regulation of deposit rates. And he gives instructions that must be followed. The main benchmark is the average deposit rate for the top 10 banks in the country, some of which have already lowered their profitability levels.

Secondly, the pace of consumer lending slowed down, and deposit portfolios were invested in lending.

Thirdly, you need to remember about the state of liquidity in the banking system. The flow of deposits from small and medium-sized banks to the state deprives the first funds, and the second does not stimulate the growth of deposit rates. Therefore, the first will either raise rates, or at least not change, sacrificing the overall profitability.

The Deposit Insurance Agency predicts the growth of deposits in 2014 in the amount of 20%-22%. According to the results of the first half of 2013, the forecast was 17%-19%, which indicates that the population is actively placing their funds in banks, and the number of deposits placed will continue to grow. Today in the article we will look at:

Forecasts on deposits for 2014

Promotions and special offers of banks

Maximum rates for some banks

Reasons for the increase in deposits

According to the Central Bank of the Russian Federation, as of August 1, 2013, the volume of deposits reached 15.796 trillion. rubles. In annual terms, the volume of deposits increased by 9.7%. The share of demand deposits with a term of 1 month is 18% of the total volume. Deposits for a period of 31 days to a year decreased by 0.8% and now their share is 20.5%.

The number of deposits with a term of 1 year or more remained at the same level - 61.5% of the total. The share of deposits in rubles is 4.6 times higher than in foreign currency. Analysts predict an increase in the deposit portfolio by 17%-19% in 2014 compared to 2013.

The volume of deposits will increase one-time, which is explained by the outflow of large sums from abroad. Due to the crisis in Cyprus, wealthy Russians prefer to transfer their savings to domestic banks.

Another reason for the increase in the volume of deposits is the law prohibiting civil servants from having accounts in foreign banks. Due to this, the growth of deposits in the first half of 2013 was higher than in the whole of 2012. In 2014, the growth of deposit accounts and the outflow of funds from abroad to Russian banks will continue.

Such a high increase in deposits allows banks not to apply stimulus measures and keep rates at a minimum level. As long as the population will actively contribute funds to deposit accounts, interest rates will not rise. On the other hand, if rates continue to decrease next year, this may affect the volume of the deposit portfolio.

Reasons for rate cuts

The decrease in deposit rates has been observed for eight months now, and according to the Central Bank of the Russian Federation, today the average rate is 9.02% per annum - this is the lowest rate since the beginning of 2013. Back in August, its value was 9.05% per annum.

In addition to a large influx of funds from abroad, the reason for such a reduction in rates for individuals will be an increase in insurance compensation to 1 million rubles, a decrease in activity in the credit market and a decrease in inflationary indicators.

As of September 1, the increase in the loan portfolio of unsecured loans amounted to 37.3%, while a year ago it was 59.7%. Considering that banks must keep a balance between the growth of assets and liabilities, they are not so interested in attracting funds from the population.

Deductions to the insurance fund by banks depend on the size of rates, therefore, in the absence of reasons to stimulate the population, it is unprofitable for them to raise interest rates on deposits. After all, an increase in insurance compensation becomes an additional incentive for investing free savings in a deposit account.

The Central Bank began to take an active part in the regulation of deposit rates. If earlier its actions were limited to recommendations, then in the near future it is expected that written instructions will appear that are binding on banks.

Growth of deposits over the last year

In addition to the interest rate, depositors pay attention to the conditions offered by the bank for deposits. Of great importance is the combination of such factors as the possibility of withdrawing funds or replenishing the deposit, the term and the possibility of capitalization of interest.

Monitoring of profitability of deposits showed that the level of interest rates on deposits in leading banks in October does not exceed 8.71% per annum, while in small financial institutions one can find a rate of up to 12% per annum. However, for many depositors, when choosing a deposit, the priority is not the size of the rate, but the reliability of the bank. The growth of deposits in large banks remains at a high level, even despite the low level of rates.

For example, in Sberbank, the growth of deposits over the past 12 months amounted to 18.6%, in VTB 24 - 27.5%, in Alfa-Bank - 29.9%, Home Credit Bank - 81.4%, in Russian Standard - 60.88%, Bank of Moscow - 29.8%. Of interest are the data of Eurokommerts Bank, which does not belong to the leading banks, but pursues an active policy of increasing the deposit portfolio. Over the past year, we have seen an increase in deposits in the bank in the amount of 116.9%. The bank achieved such growth rates due to the fact that it outstripped even the most profitable deposits, offering up to 11.95% per annum.

Promotions and special offers

An important role in choosing a deposit is played by a variety of promotions and special offers that allow you to attract the attention of the depositor. For example, URALSIB Bank, at a base rate of 5.8% -10% per annum, gives customers a debit card, and Narodny Credit Bank, at a rate of 5% -10% per annum, offers a credit and debit card with free service and an overdraft as a gift.

Eurokommerz Bank has a deposit with an increased rate of up to 11.95% per annum (Autumn Marathon program), and in Zerich Bank, in addition to increased interest (up to 10.8% per annum), under the Bastion program you can receive as a gift chocolate or blanket.

Raiffeisenbank offers clients who have made any deposit before the end of November a certificate that can be exchanged at the Valtera store for a silver pendant or a club card with 5,000 bonuses on their account. You can receive a gift on the territory of Moscow, the Moscow region and St. Petersburg until December 10, 2013.

“Military-Industrial Bank is holding a promotion for depositors who have made a deposit under the “Maximum Income” program before January 31, 2014 and for a period of 1 year. If the deposit amount exceeds 50,000 rubles, then you can choose a radiotelephone, a travel iron or a watch-receiver as a gift; from 99,000 rubles - a tonometer, a glucometer, a stereo radio; from 150,000 rubles - a DVD player with karaoke, a vacuum cleaner or a floor heater; from 350 000 rub. - multicooker, microwave oven, camera; from 699 000 rub. - LCD TV 26 inches, electric grill or netbook; from 1.5 million rubles - iPhone or Samsung tablet; from 3 million rubles - iPad tablet or LCD TV 46/47 inches.

Deposits with additional features

The optimal rate of return on deposits with additional features is noted at Russian Standard Bank, which offers the Russian Standard - Convenient Online program with an interest rate of up to 9.5% per annum and the ability to withdraw funds and replenish the account.

Rosbank pays up to 8.2% per annum on the Multicurrency deposit. Taking into account the fact that partial withdrawal and replenishment of funds is provided, this deposit is one of the most profitable.

In Sberbank, on the “Manage” deposit with the possibility of withdrawing and replenishing funds, the interest rate reaches 5.7% per annum. This program remains one of the most popular deposits on the market.

In the Bank of Moscow, you can draw up the “Maximum Comfort” deposit, which allows you to manage your savings. At the same time, the rate reaches 7% per annum, and interest is paid monthly or capitalized, which allows you to increase profits.

Maximum rates in some banks

Below we will analyze deposits in banks that are especially popular with depositors and identify programs with maximum interest rates for each bank.

Sberbank

The maximum income can be obtained on the "Growing" deposit, where the interest rate reaches 8.5% per annum. However, the deposit amount must be at least 1,000,000 rubles, and the term must be from 546 days. The "Save" deposit allows you to receive an income of up to 7.76% per annum with a capitalization of interest for 3 years and with an amount of 2,000,000 rubles or more. Under the "Save Online @ yn" program, income reaches 8.07% per annum, subject to interest capitalization for a period of 3 years and in the amount of 2,000,000 rubles.

VTB 24

The maximum rate is valid under the "Optimal Choice" program for a period of 18 months and in the amount of 3,000 rubles. It is possible to make additional contributions and capitalization of interest, which increases the income on the deposit.

Renaissance Credit

The “Profitable” deposit allows you to make a profit of up to 10.5% per annum with a term of 367 days and an amount of 5,000 rubles. Deposits and withdrawals are not provided.

Tinkoff Credit Systems

The interest rate under the SmartDeposit program reaches 10.25% per annum for a period of 12 months, with the possibility of interest capitalization and in the amount of 30,000 rubles.

Russian Standard Bank

Offers a "High Interest" deposit with a rate of up to 9.25% per annum with a term of 360 days and an amount of 300,000 rubles or more. It is possible to replenish the deposit. Depositors who have signed an agreement at the branch receive a MasterCard bank card as a gift.

Under the Pension Plus program, the interest rate is 9% per annum with an amount of 100,000 rubles and more and for a period of 360 days or more. During the entire period, it is possible to replenish the account, and when you move to the next threshold amount, the rate increases. A MasterCard is issued as a gift.

Eurocommerce Bank

This bank traditionally offers a line of deposits with a high interest rate, which can reach up to 11.5% (for regular programs) and 11.95% (for VIP deposits) per annum. The bank also offers a "Caring" deposit for pensioners - up to 11.65% per annum, the minimum amount is from 2000 rubles.

It's done! From November 10, the Bank of Russia stopped fixing the corridor of the value of the dual-currency basket and nevertheless “released” the Russian ruble to float freely. In recent days, our currency has “floated” far enough – up to 48 rubles for one dollar and up to 60 for one euro. In an environment of severe devaluation, foreign exchange assets are truly popular interest. The simplest and most accessible of them for the population are bank deposits in foreign currency, primarily in euros and dollars. The topic of the article is the ten most attractive offers on foreign currency deposits for individuals from Russian banks (*).

The measure of attractiveness will be the interest rate on foreign currency deposits (which is quite natural), as well as the level of solidity (and reliability) of a banking institution.

Let's start analyzing foreign currency deposits in banks with the proposals of the largest systemic financial organizations.

1. Sberbank

Foreign currency deposits in Sberbank are represented by two interesting products - deposits "Save" and "Multicurrency Savings Bank of Russia".

On the first deposit, the bank charges the maximum interest rates, both on ruble deposits and on foreign currency deposits. Dollars or Eurocurrency can be placed for a period of one month and up to three years inclusive. Replenishment and partial withdrawal of funds is not provided. The minimum deposit is one hundred dollars or euros.

Interest accrual - monthly with the addition to the deposit amount (capitalization). Interest income can be withdrawn without waiting for the deposit to expire. Deposit rates depend on the term and size of the deposit.
On the amount of 100 to 3 thousand dollars / euro and from one to two months, the rate is 0.3% per annum. With an increase in the dollar amount over 100 thousand and for a three-year period, the rate for simple interest is 2.95%, and for compound interest - 3.08% per annum. With similar parameters of the euro-deposit, the rate is 2.60% (2.70%) per annum.
In case of early termination within the first six months, Sberbank pays 0.01% per annum. If the client terminates the contract after more than six months - two thirds of the base rate.

The bank opens a multi-currency deposit in three currencies at once - rubles and two major foreign currencies (dollar / euro) from one to two years. The minimum amounts have been reduced to $5/EUR. The account mode allows you to replenish it in cash from 100 dollars / euros. There are no restrictions for non-cash replenishment. You cannot withdraw money from the deposit.

Foreign currency deposits of this type in Sberbank have a differentiated scale of interest rates, depending not only on the period, but also on the size of the minimum balance. With the value of the last 5 dollars / euro, it is equal to only 0.01% per annum. If the depositor provides 100 thousand dollars / euros, then for a two-year period he can claim 1.75% (1.78% compound interest) per annum. The amount of the minimum balance is fixed in the deposit agreement or in an additional agreement to it.

Interest income is accrued once every three months and can be withdrawn or capitalized. The conditions for early termination are similar to the conditions of the “Save” deposit.

The main advantage of a multi-currency deposit is the possibility of a cashless transfer between currencies (conversions) within the limits of the account balance, without any commissions.

2. VTB24

The main state competitor of Sberbank in the retail market, VTB24, positions the Profitable deposit as the most attractive. The period is from three to sixty months (five years). Interest is accrued and paid monthly or capitalized at the option of the depositor. Withdrawing money partially from the deposit is prohibited. If the early termination of the contract occurred no earlier than 180 days, then VTB24 charges 0.6 of the rate applicable to the deposit on the date of termination. The minimum amounts are 3 thousand dollars / euros.
It is interesting that the highest rates on Profitable from VTB24 exactly match the rates of the Save deposit from Sberbank, but the amounts may be smaller.

So, for a deposit from 50 thousand dollars for a period of 1102 days (from three years), it is equal to 2.95% (3.08% for compound interest). For amounts over EUR 50,000 for the same term – 2.60% (2.70%).

3. Bank of Moscow

Repeats the maximum foreign exchange rates of state-owned banks and the municipal Bank of Moscow. The most attractive in terms of interest rate, both ruble deposits and foreign currency deposits, are positioned by the bank in the “Maximum Income” product.
The lower limit on accepted amounts is 100 USD/EUR. Deposit terms - from 90 days to three years. Monthly interest calculation period. The procedure of capitalization or payment of interest is possible. An interesting promotion - if a deposit is opened online (via Internet banking), then the client has an addition to the rate of 0.1% per annum.

For a deposit over 75 thousand dollars for a period of three years, the same 2.95% (3.08%) per annum. For a deposit from 75 thousand euros - 2.60% (2.70%).

4. Gazprombank

Slightly more favorable conditions can be found in another state banking institution - Gazprombank. The most highly profitable deposits in dollars, euros and rubles are concentrated in the Gazprombank-Promising deposit program. Placement periods range from 181 days to three years plus one day. The minimum amounts are 500 USD/EUR. Replenishment and expenditure on the deposit is prohibited. Interest income is paid for deposits with a term of up to a year - at the end of the period. For longer ones - every year and at the end of the term.
A deposit in dollars gives the highest interest (3.1% per annum) for amounts from 10 thousand for a period of three years and one day. For euros, the same 3.1% for a deposit of 10 thousand and for the same maximum period. Thus, the euro-offer from Gazprombank is somewhat more profitable than from banks Nos. 1-3. That's just, this small benefit is crossed out by the unavailability of interest until the end of the deposit (or the first year for deposits of more than a year).

5. Rosselkhozbank

The most profitable deposits in euros and dollars, as well as in rubles, are offered at the Agricultural Bank from October 28, 2014 on the Zolotoy deposit. Money can be placed through an ATM or Internet banking ("Internet office"). The minimum deposit amount is very high - 50 thousand USD/EUR. Interest income is paid at the end of the term of the deposit agreement. Replenishment and partial withdrawals are prohibited. Terms - from 91 to 1460 days (4 years). Rates for a four-year period - 4.0% per annum for the dollar and 3.75% for the euro. The interest is interesting enough, but the way it is paid (at the end of the fourth year) blurs the picture. For one year, we have 3.3% per annum for the dollar and 3.05% for the euro.

6. Promsvyazbank

Deposits in dollars and deposits in euros with interest are the most attractive for the product "Big rates". If the deposit is made at the office of Promsvyazbank, then the minimum amount is 1000 dollars or euros. When opening an account through PSB-Retail Internet banking, it is reduced to 300 currency units. Deposit period - 397 days. Replenishment is possible (without restrictions during the first 91 days). There are two interest periods. The first is up to 184 days and the second is from the 185th to the 397th day. For the first period, regardless of the amount, the rate of 1.5% per annum for both currencies works. For the second - 4.0% per annum. The average value is 2.75% for the full term. Interest can be received after the end of the relevant periods or capitalized. If the client held the deposit for more than half of the term, then in case of early termination, the accrued interest is retained in full.

Promsvyazbank, similarly to Sberbank, is promoting its own version of a multi-currency deposit - "Multi-currency basket". Also, within one deposit, you can open in three currencies - ruble, dollar and euro. There is a non-cash conversion between currencies at the rate of the bank on the date of the operation. There is a function of replenishment of the account (no later than 30 days before the expiration of the deposit). It is possible to spend within the minimum balance in the context of each currency. The maximum deposit amount in foreign currency is limited to half a million dollars or euros.

The minimum balance, which is also the minimum deposit in the currency defined as the main one, is 300 (via Internet banking) / 1000 (via the office) dollars or euros. For additional currency - 1 dollar / euro.
The term of the deposit is 91, 184 and 397 days.
The maximum rate (397 days) for the dollar is 3% per annum, for the euro - 2.6%.

7. Alfa-Bank

The largest private bank in Russia offers the Pobeda deposit with the highest income levels in the bank. The minimum for accommodation is 500 euros or dollars. Terms - from 92 days to three years. Interest is capitalized monthly. From November 1, 2014, the highest interest rate on the dollar is valid for a three-year period for amounts over 120 thousand and is equal to 4.5% per annum. For a deposit of 120 thousand euros for three years, we have 4.3% per annum. Interest rates are calculated using the compound interest method.

8. Renaissance Credit

The Bank combines deposits in euros and dollars, as well as in rubles, from the point of view of maximum profitability, in the “Profitable” deposit. The minimum amount is two hundred dollars / euros. The investor receives interest at the end of the term. The periods for which Renaissance Credit accepts money for the Profitable deposit are 731, 367, 181 and 91 days. For a period of 367 days, the rate on the dollar and the euro is 4.75% per annum. Deposits and withdrawals are prohibited. If early termination occurs after 367 days, the bank recalculates interest income at a rate of 2.25% per annum.

9. "SB Bank"

Let's move on to the banks that give the highest deposit rates on foreign currency deposits.
"SB Bank" positions the product "Guaranteed income". The deposit gives very decent rates even with an early break. The minimum amount is one and a half thousand dollars or euros. Terms for placement - from one to one and a half years. Interest is available for withdrawal at the end of the term. It is possible to replenish without restrictions, but no later than one month before the expiration of the contract. Partial withdrawals are prohibited. The rate for both types of currencies is fixed at 5.5% per annum. In case of early termination in the period from the 366th to the 547th day, the rate of 5% per annum for the dollar and euro applies.

10. Bank "Ugra"

According to our rating, the best currency deposit in 2014 is the Fulfillment of Desires deposit from Yugra Bank. The program is valid from November 1 of the current year to February 28, 2015. The lower limit of accepted amounts is 300 euros or dollars. Terms - 61 - 730 days. You can replenish in the amount of twenty dollars / euros, no later than 30 calendar days before the end of the deposit. A single withdrawal of funds during the term of the agreement is allowed, in the amount of not more than 40% of the amount deposited at the opening. Rates for terms from 547 to 730 days for the dollar - 5.7% per annum, for the euro - 4.7%. Capitalization of interest is allowed.