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Decreased Interest in Belarusian Rubles Observed in Deposits

Banks in Belarus are principally decreasing interest rates for deposits denominated in rubles, according to our regular review.

,   and  Administrator
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banks in Belarus are primarily lowering interest rates on deposits in national currency, according...
banks in Belarus are primarily lowering interest rates on deposits in national currency, according to our regular review.

Decreased Interest in Belarusian Rubles Observed in Deposits

Updated Interest Rates for Bank Deposits in Belarus

Belarusian bank VTB has announced adjustments to the interest rates for several deposit schemes in Belarusian rubles. The changes are as follows:

  • The interest rates for the "My Conditions (Non-withdrawable)" deposit have been revised as follows:
    • Increased by 0.1 percentage points (p.p.) to 11% and 14% annually for terms of 35-65 and 1097-1733 days respectively;
    • Decreased by 0.6 p.p. to 11.5% and 12.2% annually for terms of 66-96 and 97-127 days respectively, and by 0.15 p.p. to 15% annually for the term of 367-457 days;
    • Terms of 128-158 days (rate 11.7%), 159-313 days (rate 13.5%), and 314-364 days (rate 14%) have been replaced by terms of 128-189 days (rate 13%) and 190-364 days (rate 13.3%);
    • Terms of 458-639 days (rate 14.7%) and 640-1096 days (rate 14.8%) have been replaced by terms of 458-548 days (rate 15.15%) and 549-1096 days (rate 14.3%).
  • The interest rates for the "My Conditions Online (Non-withdrawable)" deposit have also been revised:
    • Increased by 0.1 p.p. to 11.1% and 14.1% annually for terms of 35-65 and 1097-1733 days respectively;
    • Decreased by 0.6 p.p. to 11.6% and 12.3% annually for terms of 66-96 and 97-127 days respectively, and by 0.19 p.p. to 15.1% annually for the term of 367-458 days;
    • Terms of 128-158 days (rate 11.8%), 159-313 days (rate 13.6%), and 314-364 days (rate 14.1%) have been replaced by terms of 128-189 days (rate 13.1%) and 190-364 days (rate 13.4%);
    • Terms of 458-639 days (rate 14.9%) and 640-1096 days (rate 15%) have been replaced by terms of 458-548 days (rate 15.29%) and 549-1096 days (rate 14.4%).
  • The interest rates for the "My Conditions (Withdrawable)" deposit in national currency have been adjusted as follows:
    • Increased by 0.1 p.p. to 10.1% annually for the option with a placement period of 66-96 days;
    • Decreased by 0.4 p.p. to 9.4% annually for the option with a term of 35-65 days;
    • Options with terms of 97-189 days (rate 10.7%), 190-251 days (rate 10.8%), and 252-364 days (rate 11%) have been replaced with options with terms of 128-158 days (rate 10.8%), 159-220 days (rate 10.6%), 221-251 days (rate 10.8%), 252-282 days (rate 11.1%), 283-313 days (rate 11.3%), and 314-364 days (rate 11.6%);
    • Options with terms of 367-457 days (rate 13.9%), 458-548 days (rate 10.3%), and 549-732 days (rate 9.1%) have been replaced with an option with a term of 367-732 days (rate 11.8%).
  • Ruble deposits "SuperSeven" rates have decreased:
    • By 0.2 p.p. to 13.3% annually for the option with a placement period of 7 months;
    • By 0.15 p.p. to 15% annually for the option with a term of 399 days;
    • By 0.5 p.p. to 14.3% annually for the option with a term of 735 days;
    • By 0.8 p.p. to 14% annually for the option with a term of 1099 days.
  • Rates for "SuperSeven-online" deposit in national currency have also decreased:
    • By 0.2 p.p. to 13.4% annually for the option with a placement period of 7 months;
    • By 0.19 p.p. to 15.1% annually for the option with a term of 399 days;
    • By 0.5 p.p. to 14.4% annually for the option with a term of 735 days;
    • By 0.8 p.p. to 14.1% annually for the option with a term of 1099 days.
  • Several other Belarusian ruble deposits of the bank have also seen rate adjustments:
    • "Pillow of safety (conditional non-withdrawable)" - by 0.5 p.p. to 14.3% annually for the option with a placement period of 732 days;
    • "In theme (capitalization)" and "In theme (with interest payments)" - by 0.05 p.p. to 15.1% annually for options with terms of 549-732 and 733-1096 days.

In other developments, Paribank has reduced rates for two of its ruble deposits: "Fixed Online" - by 1.79 p.p. to 13.5% per annum for the option with a term of 13 months; "Stable Income" - by 1.79 p.p. to 13.6% per annum for the option with a term of 13 months.

Bank TK has also announced a decrease in the rate on the "Fixed" deposit in national currency, by 0.71 percentage points to 15.29% annually for the option with a term of 370 days.

These changes are effective as of the date of this publication. For the most accurate and current interest rates, please visit the official websites of Bank VTB (Belarus), Paribank, and Bank TK, or contact their customer service directly.

The recent changes in Belarusian bank VTB's deposit schemes indicate a shift in the personal-finance sector of the banking-and-insurance industry, as interest rates for several deposit products, including the "My Conditions (Non-withdrawable)", "My Conditions Online (Non-withdrawable)", and "My Conditions (Withdrawable)", have been revised. Additionally, the finance industry in Belarus has witnessed alterations in ruble deposits such as "SuperSeven", "SuperSeven-online", and several other products offered by Belarusian banks like Bank VTB, Paribank, and Bank TK.

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