Russian citizens most often open deposits for a period of one to three months, according to a publication by Gazeta.Ru citing a study by Sinara Bank.
These are followed by six-month and 12-month deposits.
Russians usually deposit 30K to 100K rubles ($335 to $1,118).
The second most popular range, chosen by 24.5% investors, is 100K to 300K rubles ($1,118 to $3,350). About 16.9% of poll takers deposit between 300K and 1 mln ($3,350 to $11,180), and another 9.4% deposit over 1 mln rubles ($11,180).
Bankers explain that short-term deposits prevail because the Central Bank is expected to raise the key interest rate further in the future, and investors hope to get a higher interest rate on deposits.
Almost half of Russians have only one deposit; 26.4% have two deposits, and 11.3% have three. When selecting a bank, Russians primarily focus on offered interest rates (81.1%). Ability to open a deposit online is also important (52.8%), along with the reliability of the bank (41.5%), according to the survey.