OREANDA-NEWS  In January 2024, the demand of Russians for bank deposits increased sharply. During this time, citizens have deposited dozens of times more funds than in the same period last year. This is reported by the Izvestia newspaper with reference to statistical data from analysts of large Russian banks.

Market participants noted that such dynamics were recorded despite the seasonal factor. Usually, at the beginning of the year, citizens, on the contrary, prefer to withdraw money from deposits. However, the opposite trend was observed in 2024.

Thus, VTB noted that in the first month of this year, the volume of ruble savings of Russians increased by 62 billion rubles and approached the mark of 6.3 trillion rubles. In turn, in Rosbank, the volume of customer savings has increased by 10 percent during this time, although it grew by 2.5 percent at the beginning of previous years. A sharp increase in the demand of citizens for deposits was also confirmed by Novikombank, the Ural Bank for Reconstruction and Development and Home Bank.

Earlier, the Central Bank reported that in the third decade of January, the average maximum interest rate on ruble deposits in the ten largest banks rose to 14.88 percent per annum. In the previous two decades of the month, the indicator was 14.79 and 14.87 percent, respectively.