The head of the Bank of Russia, Elvira Nabiullina, said that deposits will remain attractive to Russians for a long time. Deposit rates will be higher than inflation for a long time, according to Kommersant.
Igor Rastorguev, a leading analyst at AMarkets, agrees with the statement of the head of the financial regulator. As long as the yield is at least 1.5 times higher than the inflation rate, deposits as a means of preserving and increasing capital are still attractive, the expert emphasizes.
“A bank deposit is a universal, understandable and secure tool. During the period of very high rates at 23% and above, deposits were opened even by those who had not previously used this tool. Funds were transferred to banks from other financial instruments, from the stock exchange, etc., ” the analyst explains.
Analysts predict that by the end of the year, the key rate will drop to 16%, but even in this case, deposits with yields above 10-13% will still be profitable, and the outflow of funds from accounts will not be very large. This is partly facilitated by the developed technical infrastructure of banks — accessible applications where you can open a deposit without visiting the office.
“But with the onset of parity between the yield on deposits at least at the level of 10% and inflation (in the same values or slightly lower), we predict a sharp outflow of money from banks and an increase in the number of large purchases: real estate, cars, repairs, etc.,” Igor Rastorguev notes. “So far, pent-up demand is accumulating.”