The expert explained what to do with savings after the fall in key rates



If you have free money in your accounts, now is the time to open a deposit at even higher rates

A photo: Shutterstock

This Friday, the Central Bank again lowered its key rate. It is now 14% per year. For comparison, in March it was 20% per year. As a result, the profitability of bank deposits also falls. How to invest savings with maximum profitability now? In many good ways.

1. Hurry with the design

You may still have time to jump into the last carriage of the train. Banks need time to revise their rates based on the Central Bank’s decision. If you have free money in your accounts, now is the time to open a deposit at even higher rates. The fastest way to do this is in your bank’s mobile app.

2. Use aggregators

You can search for the best deal among banks using different aggregators. There are several now. On some platforms, deposits can even be opened online. According to the Finuslugi platform deposit profitability index, the average deposit rates for three, six months and one year are now 14.78%, 13.12% and 10.86%, respectively.

3. Make a contribution scale

Spread the money over different periods. This will give you some flexibility, especially if you make longer deposits with the possibility of replenishment.

– The banks have already partially integrated the reduction in the current key rate into their conditions. Over the past month, deposit rates have fallen by around 1.4 to 3.7 percentage points, depending on the duration. Given the current path of rate movements, we recommend that depositors spread savings across different banks and investment periods to maintain profitability and the ability to manage funds flexibly, advises Igor Alutin, general director of the Finuslugi project of the Moscow Stock Exchange.

The Central Bank lowered the key rate to 14% per annum: what does this mean and what will happen to interest on loans and deposits

The regulator has started to actively ease monetary policy (more)

Source: KP

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