For deposits for February. For demand deposits in rubles - 7.012%, for a period of up to 90 days - 9.262%, and for a period of more than a year - 9.79%.
It's time to check 🔎 your bank
Basic rates for deposits in foreign currency have also been established. Compared to January, the base rate for deposits in rubles and dollars has increased. And interest rates on deposits in euros have decreased.
Why do I need it?
If you know the base rate on deposits, you can assess the reliability of the bank. Typically, a reliable bank will have a rate no higher than the base rate. That is, a deposit in rubles for six months at 9.4% per annum is normal. And a deposit at 9.8% for a year and a half is also normal. And a deposit at 12% for 3 months is strange.
If the bank offers high interest rates on deposits, he pays more for insurance. He will take this money, for example, from borrowers. If interest on loans high stakes at the average level, there is something wrong with the bank.
For example, if a bank now offers deposits of more than 10% per annum, think about why it needs this. Maybe the chairman of the board wants to quickly accumulate money and withdraw it through offshore companies.
If you cannot resist the temptation to open a deposit at 12%, check whether the bank has a deposit insurance system. Do not keep more than 1.4 million rubles in the bank. Better yet, don’t keep your money in a suspicious bank at all. In such banks there may be double-entry bookkeeping, when deposits are not insured or are generally withdrawn from the bank without the knowledge of the owners. The Deposit Insurance Agency will not help the clients of these banks.
What is the base rate?
The base rate of return on deposits is the arithmetic average maximum bets large banks.
To calculate this rate, the Central Bank analyzes the maximum rates in those banks that attracted the most deposits over the previous month. The average value of these rates is considered the base rate and is published in advance on the Bank of Russia website.
The Central Bank calculates the base rate every month. For example, on December 21 he set the deposit rate for January, and on January 24 - for February.
All banks have their own rates. Why do we need some kind of basic one at all?
The base rate affects how much the bank pays to the Deposit Insurance Agency.
Contributions to the DIA are like insurance premiums, only for deposits. To calculate how many contributions each bank must pay, they are guided by the base rate. If the bank promises rates on at least one deposit that are much higher than the base rate, then it pays more for insurance.
Banks pay insurance premiums from their profits. This means that they are included in interest on loans and taken into account in deposit rates.
I don’t have a deposit, but I have a salary card or a bank account for business. Does this concern me?
Maybe. If you have an account with a bank, compare its deposit rates with the base rate. If the rates are suspiciously high, anything can happen to the bank.
The Bank of Russia has set the basic yield level for March. The relevant materials were posted on the regulator’s website on Thursday.
The indicator is calculated based on the maximum rates in banks that together attracted two-thirds of the total volume of household deposits as of February 1, 2018. A basic level of The yield on demand deposits is determined taking into account bank account agreements, the Central Bank clarifies.
Basic return on deposits in rubles for a period from 181 days to a year increased (in the tables such pairs are highlighted in bold) by 0.073 percentage points. For demand deposits and other maturities, rates decreased by 0.021-0.851 percentage points.
Basic return on deposits in rubles, %
By dollar for deposits for a period from 181 days to a year, the basic yield decreased by 0.062 p.p., and for demand deposits and for other periods - increased by 0.007-0.278 p.p.
Basic return on deposits in dollars, %
Basic return on demand deposits In Euro increased by 0.011 p.p., time deposits - decreased by 0.31-0.996 p.p.
Basic return on deposits in euros, %
The above indicators serve as a guideline for differentiated determination of the amount of contributions credit institutions to the deposit insurance fund. For banks that fall within the basic level of profitability, the rate of contributions to the Fund from the first quarter of 2018 is 0.15% of the calculation base for the quarter. If the base level is exceeded by 2-3 percentage points, the surcharge is 50% of the base rate, by more than 3 percentage points - 500% of the base rate (see.
Basic level of return on deposits is a quantitative indicator calculated by the Bank of Russia for deposits in rubles and foreign currency. Defined as the arithmetic mean of the maximum interest rates on deposits in banks that were placed in reporting month two thirds of the total volume of individual deposits in Russian banks.
This indicator is used to identify banks whose contributions to the fund compulsory insurance deposits (FSV) will be recalculated at an additional (increased additional) rate. Such measures apply to financial institutions that, during any month of the quarter, had at least one deposit exceeding the basic level of profitability by 2-3% (more than 3%).
The Bank of Russia publishes the value of the indicator monthly on its website at least three working days before the start of each month.
Basis point (bps) Bank balance
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The indicator is calculated based on the maximum rates in banks that together attracted two-thirds of the total volume of household deposits as of July 1 current year. The basic level of return on demand deposits is determined taking into account bank account agreements, the Central Bank clarifies.
Basic return on deposits in rubles on demand and for all terms decreased by 0.048-0.59 percentage points.
For dollar On demand deposits, the basic yield decreased slightly - by 0.004 p.p. - and on time deposits increased (in the tables such pairs are highlighted in bold) by 0.023-0.167 p.p.
Basic return on deposits In Euro for a period of up to 90 days and from 91 to 180 days decreased by 0.013 percentage points and by 0.058 percentage points, respectively, and for demand deposits and other periods increased by 0.004-0.285 percentage points.
The above indicators serve as a guideline for differentiated determination of the amount of contributions of credit institutions to the deposit insurance fund. The basic contribution rate starting from the third quarter of 2016 is 0.12% of the calculation base for the quarter (versus 0.1% previously). For banks whose maximum deposit rates exceed the basic level of profitability by more than 2 percentage points, increased contributions to the fund have been established since July 1, 2015. An additional rate (from the second quarter of 2016 - 50% of the base rate) is valid for banks that, during any month of the reporting quarter, attracted at least one deposit with a yield exceeding the base level by 2-3 percentage points. An increased additional rate is established in case of excess the basic level of profitability by more than 3 percentage points. From the first quarter of 2017, it was equal to 400% of the base rate, and from the second quarter, it was increased to the maximum permissible 500% of the base rate.
Information about the profitability amount deposits are of a public nature. Basic indicators are presented on the Central Bank website and are available for review by legal entities and individuals. For settlements, current rates of leading financial and credit organizations of the Russian Federation are regularly monitored, which are required to publish information on the amount full price registered deposits.
So, for example, you can look at the basic level of return on deposits for July 2018:
The Central Bank’s sample includes only domestic ones banking structures. The basic level of return on deposits corresponds to average maximum interest established by banks in the settlement interval for savings accounts. List financial institutions, which the Central Bank of the Russian Federation is guided by, is compiled taking into account one requirement - at least 2/3 of the total number of open deposits throughout the country must be concentrated in the selected banks. When determining the value of the total cost of a deposit, not only accrued income in the form of interest on the deposit is taken into account, but also other types material benefit depositor (including gifts).
The disadvantage of this regulatory mechanism for individuals the fact that such control provoked a decrease in deposit rates. A positive effect is the fact that the risk of the bank losing its license has significantly decreased. The Central Bank of the Russian Federation publishes data on calculated profitability monthly - information is updated 3 business days before the start of the new month or earlier.
The degree of profitability is assessed by the Central Bank not only for ruble investments, but also for deposits in foreign currency. Separate accounting of rates is maintained for deposits with different maturities:
- poste restante;
- deposit period is up to 3 months;
- semi-annual deposits;
- with an annual interest calculation interval;
- long-term deposits, for which contracts are concluded for a period of more than 12 months.
Features of deposit insurance
If in separate bank the deposit rate turns out to be higher than the base indicator calculated by the Central Bank of the Russian Federation, this is not considered an offense. The consequences of such an overestimation of deposit returns are manifested in an increased amount insurance premium, paid by the credit institution. Such banks are considered the most vulnerable to negative factors in the financial services market.
Deposit rates are considered optimal if they are in the range basic yield or slightly exceed its value. An excess of 2% above the average is acceptable. If this threshold is not met, the bank must pay a fee to State Agency for deposit insurance at an additional increased rate.