For Russians, bank deposits remain the favorite way of saving. However, the average rate on them is constantly decreasing. This value is already quite comparable with the inflation rate, so many are interested in how deposit rates will change next year, whether more interesting deposit products will appear than today.
The profitability of deposits depends, first of all, on the interest rate. In recent years, the dynamics of rates has been multidirectional: some banks have regularly raised them, while others have reduced them no less methodically. It is rather difficult to predict how the interest on deposits will change in 2015, because this process is simultaneously influenced by several factors.
Influence of the refinancing rate on the amount of interest on deposits
When developing a product line of deposits and determining their profitability, banking specialists are forced not only to take into account the average rate prevailing in the market, their own need for monetary resources, but also the size of the refinancing rate, the value of which affects the taxation of income on deposits. If this rate goes down, the interest on deposits offered to citizens will also go down.
In addition, the requirements of the Central Bank play an important role in determining the size of interest rates on deposits, which legally limits the upper limit of profitability. Today, restrictive measures or certain penalties are imposed on banks that, from the point of view of the regulator, conduct a risky policy to attract funds from citizens.
Change in the amount of contributions to the deposit insurance fund
Now a bill is being developed, according to which banks offering citizens to place funds at a higher interest rate than other players in the market will be required to pay deductions to the deposit insurance fund at an increased rate. It was decided to calculate the average rate separately for ruble and foreign currency deposits available in the product lines of the largest domestic banks from the top ten rating.
At present, all credit organizations quarterly deduct 0.1% of the amount of deposits on their balance sheets to the FSV. It is planned that a bank that has attracted at least 1 deposit in the reporting quarter at a rate that is 2-3% higher than the average rate will be forced to transfer to the FSV already 0.15% of the amount of deposits on its balance sheet. If the bank advertises deposits with a yield of more than 3% of the average rate, then the amount of its deductions to the FSV will be 0.6% per quarter, which is, in fact, 6 times more than the base value.
It is also assumed that the amount of payments to the deposit insurance fund will directly depend on the overall financial stability of the credit institution. The Ministry of Finance of the Russian Federation expects that such a system will be developed and come into force by 2015.
Apparently, the majority of credit institutions will prefer to set deposit rates in 2015, focusing on the average profitability in the market. Most likely, interest on deposits will decline, which means that Russians will have to find a more profitable way to invest their free funds.
