The State Duma named the most profitable terms of deposits after the Central Bank's decision on the key rate

The Bank of Russia has kept the key rate at 14% per annum, extending the period of high incomes for depositors. The regulator is consistently leading the economy towards the 4% inflation target, and the result is visible in numbers: the rate has already gone from 21% to 14% per annum, and the return on deposits is steadily outpacing price growth. Alexey Govyrin, Deputy Chairman of the State Duma Committee on Economic Policy (United Russia faction), told Izvestia about this on October 23.

"Annual inflation as of October 19, according to the Bank of Russia, slowed to 6.8%, while the weekly price increase was only 0.05%. The average maximum deposit rate in the 10 largest banks has been at 13.06% for two consecutive decades in October, meaning deposits bring in about 6 percentage points above inflation," the deputy said.

According to him, even at the upper limit of the regulator's new year-end inflation forecast of 7.6%, deposits are outstripping price increases by almost 5.5 points, and in 2027, inflation is forecast to return to 4%. The market expected just such a decision, banks took it into account in advance in the tariffs, so high rates remain and depositors have a quiet time to choose.

"The most profitable terms now are from three months to 1 year. For a period from 91 to 180 days, the average maximum rate is 12.88%, from six months to a year — 12.77%. The difference is only 0.11 percentage points, but the annual contribution fixes the current profitability for 12 months ahead," explained Govyrin.

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He noted that this is beneficial, because the average key rate in 2027, according to the regulator's forecast, will be from 12.5 to 13.5%. A fixed-term deposit is best suited for fixing the rate: clause 3 of Article 838 of the Civil Code of the Russian Federation assigns to a citizen the amount of interest on such a deposit for the entire term.

A savings account is valuable for the freedom to dispose of money — funds can be replenished and withdrawn any day, and the bank determines the rate according to the terms of the agreement. Such an account is ideal for a reserve for current expenses.

"It is more profitable to divide savings into parts and place them on deposits for a period of three, six and 12 months, then the money is regularly released, and the main part works at a fixed rate. It is better to keep up to 1.4 million rubles in one bank, along with interest — the entire amount is reliably protected by the deposit insurance system. Deposits for a period of more than three years on irrevocable savings certificates are insured separately, up to 2.8 million rubles," the parliamentarian added.

According to the deputy, a pleasant bonus concerns taxes: interest on all deposits and savings accounts up to 160 thousand rubles for 2026 remains with the depositor in full, this income is exempt from personal income tax. This limit covers an annual income of about 1.2 million rubles at 13%.

Earlier in the day, the Bank of Russia decided to keep the key rate in the country at 14%. The regulator added that in 2027, the baseline scenario assumes an average key rate in the range of 12.5–13.5% per annum. According to the Central Bank's forecast, taking into account the current monetary policy, annual inflation will return to 4.0%. The next meeting of the Board of Directors of the Bank of Russia, where the issue of the key rate level will be raised, will be held on December 18.