12.08.2025, 10:31
Russians' bank savings have increased dramatically
Source: OREANDA-NEWS
OREANDA-NEWS By the end of July 2025, the total savings of Russians in banks increased by 793 billion rubles, despite repeated reductions in the key interest rate in the past few months. This is reported by TASS with reference to VTB data.
Since the beginning of the year, citizens' savings in financial institutions have increased by 6 percent compared to the same period in 2024 and reached 61 trillion rubles. By now, the amount of monetary reserves of Russians has exceeded this level, VTB clarified.
The main driver of growth was savings in the national currency, that is, ruble deposits. They account for the vast majority (almost 90 percent) of the total market growth — more than 600 billion rubles out of almost 800 billion. The volume of Russians' liabilities has reached 11.2 trillion rubles since the beginning of January. In this case, the majority also accounted for ruble investments (over 10.6 trillion), the financial organization summarized.
After another reduction in the key rate at the end of July, there was a trend in the domestic market for citizens to switch their strategy from investing in bank deposits to investment strategies, said Alexey Okhorzin, Senior Vice President of VTB. This change is primarily caused by the opportunity to earn more income. At the same time, deposits are still a popular way for citizens to save money and do not lose their attractiveness in the domestic market, he concluded.
After several consecutive cuts in the key rate, the highest returns can currently be obtained on short-term deposits, noted Alexey Lossan, an analyst at the Compare financial marketplace. We are talking about three-month deposits. The rates on them are now the most attractive for citizens and amount to an average of 17.5 percent per annum and are almost identical to the key rate, which is 18 percent. However, in case of further easing of the Central Bank's monetary policy in the autumn, annual deposits will be the most profitable for customers, the expert believes. "Their owners will be able to lock in a high percentage for the entire term, while new offers on the market will already be lower," Lossan explained.
Since the beginning of the year, citizens' savings in financial institutions have increased by 6 percent compared to the same period in 2024 and reached 61 trillion rubles. By now, the amount of monetary reserves of Russians has exceeded this level, VTB clarified.
The main driver of growth was savings in the national currency, that is, ruble deposits. They account for the vast majority (almost 90 percent) of the total market growth — more than 600 billion rubles out of almost 800 billion. The volume of Russians' liabilities has reached 11.2 trillion rubles since the beginning of January. In this case, the majority also accounted for ruble investments (over 10.6 trillion), the financial organization summarized.
After another reduction in the key rate at the end of July, there was a trend in the domestic market for citizens to switch their strategy from investing in bank deposits to investment strategies, said Alexey Okhorzin, Senior Vice President of VTB. This change is primarily caused by the opportunity to earn more income. At the same time, deposits are still a popular way for citizens to save money and do not lose their attractiveness in the domestic market, he concluded.
After several consecutive cuts in the key rate, the highest returns can currently be obtained on short-term deposits, noted Alexey Lossan, an analyst at the Compare financial marketplace. We are talking about three-month deposits. The rates on them are now the most attractive for citizens and amount to an average of 17.5 percent per annum and are almost identical to the key rate, which is 18 percent. However, in case of further easing of the Central Bank's monetary policy in the autumn, annual deposits will be the most profitable for customers, the expert believes. "Their owners will be able to lock in a high percentage for the entire term, while new offers on the market will already be lower," Lossan explained.
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