Interest on deposits per year. Contributions in structured products

Date: 10.02.2014

The State Corporation "Deposit Insurance Agency" (DIA) analyzed the development of the retail deposit market in 2013. The most significant trends are as follows.

Savings activity of the population

The volume of household funds in banks increased by 2,714.8 billion rubles. (in 2012 - by 2,371.3 billion rubles) - up to 16,957.5 billion rubles. In relative terms, the growth was 19.1% (in 2012 - 20.0%). The share of interest capitalization in 2013 is estimated at 6.4 percentage points. The strengthening of the exchange rate of major foreign currencies also helped the overall dynamics of the market at the end of the year - without exchange rate revaluation, the growth of deposits would have amounted to 17.5%.

In the past year, the discrepancy in the dynamics of insured and uninsured deposits decreased. Whereas in 2012 bearer savings certificates showed rapid growth (by RUB 216 billion), in 2013 their issue began to gradually fade, especially in the 4th quarter. As a result, the share of certificates in the annual growth of deposits decreased by half - from 9.1 to 4.5%. In general, over the past year, the amount of funds placed in bearer certificates increased by 121.5 billion rubles. - up to 348.9 billion rubles.

In turn, the volume of insured funds of the population in banks participating in DIS in 2013 increased by 2,591.3 billion rubles. (in 2012 - by 2,150.1 billion rubles). In relative terms, it grew by 18.5% - up to 16,591.0 billion rubles. (in 2012 - by 18.1%).

The dynamics of the daily growth of deposits shows that the savings activity of the population in 2013 was higher than the previous year. The growth of deposits (together with certificates) in January-November 2013 averaged RUB 6.0 billion. in a day. This significantly exceeds the same indicator of the previous year (in January-November 2012 - 4.7 billion rubles per day).

The inflow of funds from the population at the end of the year is comparable to last year's figure - traditional New Year's payments brought banks an additional 650 billion rubles. (at the end of 2012 - 750 billion rubles).

According to the DIA, the increase in savings activity in the past year was the result of a number of factors that can be conditionally divided into market and non-market ones. The first include positive, in comparison with inflation, rates on deposits, the effect of capitalization of high interest rates, and exchange rate revaluation of foreign currency deposits. The non-market one-off factors, perhaps, include the return of part of the funds of Russian citizens from the banks of Cyprus, as well as the requirements for the transfer of civil servants' accounts to Russian banks.

The DIA's forecast for the deposit market for 2014 is an increase of 2,880–3,220 billion rubles. - up to 19,840–20,180 billion rubles, which corresponds to a relative growth of deposits by 17–19%. This forecast takes into account the slowdown in the growth rates of the economy and household incomes, as well as the decrease in interest rates on deposits, with the simultaneous influence of capitalization of high interest rates of previous periods.

Structure of deposits by size

During 2013, different groups of deposits grew unevenly. In the first three quarters, deposits increased most actively - from 700 thousand to 1 million rubles. and over 1 million rubles. - by 25.3 and 22.2% in terms of amount and by 24 and 24.9% in terms of the number of accounts, respectively. Deposits from 400 thousand to 700 thousand rubles. for three quarters grew by 10.6% in terms of amount and 9.8% in terms of quantity. However, in the IV quarter the situation changed and the most active growth began in deposits within the insurance compensation - up to 700 thousand rubles. (on average by 11.6% per quarter), while the growth of large deposits practically stopped. As a result, during the year the highest growth rates were shown by deposits from 400 thousand to 700 thousand rubles. and from 700 thousand to 1 million rubles. - by 25.6 and 28.1% in terms of amount and by 28.5 and 23.5% in terms of the number of accounts, respectively. Deposits over 1 million rubles. dropped to third place - an increase of 23.4% in terms of amount and 20% in terms of the number of accounts.

At the end of the year, the share of deposits ranging from 400 thousand to 700 thousand rubles. increased from 15.3 to 16.2%, from 700 thousand to 1 million rubles. - from 7.0 to 7.6%. Deposits over 1 million rubles. increased from 38.4% to 40.0% of the total amount of deposits.

The average size of account balances and deposits in the range of up to 700 thousand rubles. increased by 1-1.7%; in the range from 700 thousand rubles. up to 1 million rubles. it practically did not change, and for deposits over 1 million rubles. grew by 3.7%. The average size of a deposit throughout the entire banking system, without small and inactive accounts, is estimated at 155 thousand rubles.

Return on deposits and its impact on the dynamics of deposits

The DIA's monitoring of interest rates offered by the 100 largest retail banks showed that 86 out of 100 banks at the end of 2013 reduced deposit rates. In 3 banks the rates increased, in 11 they remained unchanged.

The average level of rates (weighted by the volume of deposits) as of January 1, 2014 on ruble-denominated annual deposits in the amount of 700 thousand rubles. amounted to 7.2% (a decrease in 2013 by 1.3 percentage points). The average (unweighted) interest rates for deposits in the amount of 700 thousand rubles. amounted to 8.8% (decrease in 2013 by 0.9 percentage points).

The reduction in interest rates on deposits took place mainly in the II and III quarters. In turn, in the IV quarter, there was a multidirectional movement of rates among banks - 39 banks decreased, and 23, on the contrary, increased, as a result, the average level of rates in the IV quarter decreased slightly (by 0.1 percentage points).

Throughout 2013, the positive real yield on ruble deposits persisted by 1–3 pp. above the inflation rate. According to DIA estimates, the profitability of deposits in 2014 will also be at a level slightly higher than inflation.

Currency and term structure of deposits

At the end of 2013, the share of deposits in foreign currency remained practically unchanged. The first three quarters saw a smooth growth - from 17.5% to 18.5%, and at the end of the year, due to a large inflow of ruble deposits, the share of foreign currency dropped to 17.4%.

Over the past four years, the share of deposits in foreign currency has been in the range of 17-19% and, according to the DIA, this year it will not leave these boundaries either.

It should be noted that the share of long-term deposits over 1 year increased in the reporting year - from 58.9% to 61.8%. At the same time, there was a decrease in short-term deposits - from 22 to 19.2%. The share of demand deposits slightly decreased - from 19.1% to 18.9%. In general, these trends, in our opinion, are caused by the preference for more profitable long-term investments, especially in the context of relatively high interest rates.

Deposit market concentration

Nervousness in the deposit market, due to the revocation of licenses from several banks at the end of the year, influenced the redistribution of market positions of credit institutions. Thus, the share of the 30 largest banks in terms of household deposits in the first three quarters of 2013 gradually decreased - from 77.1% to 76.4%, and in the fourth quarter increased to 78.6%. The market share of Sberbank of Russia behaved in a similar way: in the first three quarters it decreased from 45.8 to 44.7%, in the fourth quarter it grew to 46.7%.

At the end of the year, the highest growth rates of deposits were observed in multi-branch network banks - 18.1% and in banks of the Moscow region - 16.4%. Regional banks grew by 12.8%. At the same time, deposits with Sberbank of Russia increased by 21.6%.

Insurance liability of DIA

The amount of insurance liability of the DIA (potential obligations to pay insurance compensation) in 2013 decreased from 67.2% to 65.5% of insured deposits. Excluding Sberbank of Russia - from 54.1% to 53.0%.

The savings mood of the clients of the country's largest bank was improved at the very end of last year by raising rates on several deposits. Entering 2013, Sberbank still keeps the largest share of the savings of Russian citizens in its accounts. About 6 trillion rubles of private depositors account for 45% of the entire deposit market. Note that most of the investments were placed for a period of one to three years. Despite the fact that the Central Bank announced the recommended maximum rate of 9.65% per annum (based on the indications of deposit rates of the top ten credit institutions), the best yield reaches the 12.5% \u200b\u200bpoint with the leader of the Sberbank rating.

The deposit program includes 16 products, including classic deposits and complex programs. For pensioners, higher rates are provided (under equal conditions compared to others) on special deposits. Several savings accounts can be opened through a remote access system. Customers' preferences lie in the area of \u200b\u200bruble products, although Sberbank offers good conditions for savings in five foreign currencies. The share of the latter either fell or increased during the whole last year, but nevertheless by the end of the year it amounted to approximately one fifth of the total mass of private deposits.

Betting

As already noted, Sberbank's highest deposit rate reaches 12.5% \u200b\u200bper annum. Due to the nature of this product, it cannot be called a classic deposit for everyone. The terms in more traditional contracts provide for the highest yield of 9.75% (for the "Save Online" deposit). Such profit is accrued on savings of more than RUB 2 million. in the longest period. The minimum profit here is 6.15% for short periods. All products with the prefix “online” were conceived with a higher rate, exceeding by 0.5 points similar, but “office” ones, that is, those that open in a bank office, and not on a home computer on the Internet.

The rates in almost all deposits depend on the amount range and term of savings. For example, 1,000 rubles or 99,999 rubles invested in the “Top up” account will grow by 5.7% in six months or 6.4% in a year or more. The next segment of the sum range from 100,000 to 399,999 has a rate of 5.95% for terms of 6 months and 6.65% for terms of more than a year. For pensioners, there are already higher percentages, which do not depend on the amount. The six-month term of the "Top up (pension)" agreement provides for 6.7%. Investments lasting more than 12 months will already bring 7.4% to a depositor with a pension certificate.

The maximum rates for foreign currency savings in the “Save-Online” account in the traditional euro-dollar pair are as follows: 4.15% for US dollars and 4.65% for euros over a three-year period. For savings in other currencies on the "International" account, the highest yield reaches the level: 3.25% in Japanese yen, 3.5% in Swiss francs and 4.25% in British pounds sterling.

Terms and amounts

The shortest deposits are accepted for a period of 1 month on accounts: International, Save, Save (Pension), Save Online.

The most long-term ones have a duration of 3 years in all products, except for: Multicurrency, Give Life, Insurance Index plus, Insurance - PERSPECTIVE, Portfolio and Investment.

Clients have the right to fix the individual term of the account for any number of days within the minimum and maximum limits from 1 to 36 months, except for: Pension Plus (3 years), Give Life (1 year) and all structured products in which the duration is predetermined bank (1, 3, 12 months).

As for the minimum possible amounts, most deposits have a small first installment of 1 to 30,000 rubles or from 5 to 1,000 dollars / euro, except for International (here the lower threshold is 1 million yen, 10 thousand Swiss francs or the same amount of pounds sterling).

Procedure for payment of income

The mode of calculating and paying interest in Sberbank traditionally includes a schedule once a month, once a quarter, periodic rental payments or income at the end of the term. The terms of all classic deposits (except for "International", as well as accounts within the insurance programs "Insurance INDEX plus" and "Insurance - PERSPECTIVE") offer the client to independently choose whether to receive profit as rent or add it to the principal amount for capitalization.

The monthly procedure is valid in the contracts: Save, Replenish, Manage, Replenish Online, Save Online, Manage Online, Save (retirement), Replenish (retirement), Insurance - PERSPECTIVE, Insurance INDEX plus.

Once every three months, income is accrued in the following products: Pension Plus, Give Life and Multicurrency.

Profit is paid at the end of the term on accounts: Portfolio, Investment, International.

Control options

Additional contributions are provided in savings accounts: Top up, Top up Online, Top up (retirement), Manage, Manage Online, Pension Plus, Multicurrency. Here, incoming transactions are not limited in time. But we must remember that if, as a result, the capital increases 10 times, then the interest rate will be halved by the amount of the excess of the initial contribution. The minimum amount of cash replenishment is 1,000 rubles. or 100 euros / dollars. Non-cash contributions can be transferred to the deposit. In this case, there are no limits on the amounts.

The boundaries for expenditure transactions are within the limits of receipt transactions. You can withdraw during the entire term of the agreement up to the amount of the initial payment in deposits: Manage and Manage Online. The Pension Plus agreement has almost no sum restrictions on expenditure; to preserve the contribution, you need to leave at least 1 ruble.

Almost all contracts can be closed ahead of schedule on preferential terms, except: Give Life, Pension Plus, Portfolio and Investment. But the benefits begin after the sixth month of the deposit and consist in reducing the rate by one third. In other cases, the deposit interest is changed by 0.01%.

For many years, deposits in Sberbank of Russia have been the most demanded among the country's population. Although interest rates on deposits in Sberbank are not high enough in comparison with a number of other banks, Sberbank remains the leader in attracting deposits, as evidenced by statistical indicators.

Consider all the deposit products offered by the main bank of the country and determine the most profitable deposits at interest in Sberbank of Russia. But, first, let's analyze the changes that took place in 2013 in the field of interest rates.

Changes in interest rates on Sberbank deposits in 2013

In 2013, the interest on deposits underwent several changes.

At the end of March, rates on deposits attracted via the Internet were lowered. The next change in the direction of lowering interest rates took place on April 30, when the rates for deposits in foreign currency and for online deposits were lowered.

The third wave of interest rate cuts occurred on May 15, where ruble deposits have already undergone changes.
As a result of three reductions in the rates on deposits placed via the Internet, decreased by 0-0.05 percentage points, the rates on deposits from the base line decreased by 0-0.75 percentage points.

Time goes by and the percentage grows

Deposit "" is the leader among the deposit programs of Sberbank in 2013. Interest rates are 6.15-9.5% in rubles and are the most attractive in Sberbank. This is a ruble deposit, which is based on the principle: the longer the funds are in the bank, the higher the interest will be. You can place a minimum of 1000 rubles and for a period of 2 years. Interest rates are 6.15-9.5%.

Interest on term deposits

In 2013, interest on Sberbank's time deposits decreased by 0–0.75 percentage points.

Contribution " Save»In 2013 - one of the most profitable deposit offers of the bank. It is intended for depositors who are ready to place their funds and forget about them while they are on the deposit. By the way, it is allowed to choose the term of the deposit with an accuracy of one day. The minimum contribution is 1000 rubles. Interest rates in rubles are 4.90-8%, and in dollars and euros 1-3.25%. Interest is calculated monthly and can be paid to the depositor, or capitalized and generate increased income.

Interest rates on the deposit " Top up»In 2013 they amount to 4.85—7.25% in rubles, 1.10—3% in dollars and euros. Additional contributions are provided for the deposit. Moreover, you can replenish the deposit an unlimited number of times. When the next amount range is reached, the interest rate rises.

Contribution " Run"Is a convenient tool for managing your own funds. By placing money in a deposit, you retain the ability to replenish the account, as well as carry out expenditure transactions on it within the amount of the minimum balance. The range of interest rates on the deposit is 4.05-6.5% in rubles and 1-2.8% in dollars and euros. Interest is paid monthly. To open a deposit "Manage" you need an amount of 30,000 rubles, 1,000 dollars or euros. The bank offers to place funds within this deposit for a period from 3 months to 3 years.

Table 1: Interest rates on term deposits in 2013

Donate Life

Among all the deposit offers of Sberbank there is a deposit “ gift a life ", Which is radically different from others. This is a combined deposit product that allows you to receive income and at the same time take part in charitable programs. The term for placing funds is 1 year. The interest rate is set at 7.25%. Each quarter, deductions are made in the amount of 0.3% of the amount of the contribution to the "Give Life" charity foundation.

Multicurrency interest

The interest rates on the "" deposit in 2013 are: 5.30-6.10% in rubles, 0.01-2.7% in US dollars and euros. This deposit is designed for depositors who need frequent currency conversions. The minimum initial payment is 5 rubles, 5 euros or dollars, the placement period is from 1 to 2 years.

Interest rates on deposits online

Among all the deposits of Sberbank, there is a certain group of deposits that can be opened remotely using the Sberbank-Online system. The remote bank assistant allows you to make a deposit using a clear and convenient interface, performing all operations step by step. Not only is it very convenient, it saves time, but also the interest rates on deposits placed online will be much higher. For ruble deposits by about 1%, and for foreign currency deposits by 0.15%.

The Sberbank-Online system allows you to issue the following types of deposits: Save Online @ yn, Top up Online @ yn, and Manage Online @ yn.

Table 2: Interest rates on deposits online in 2013

Favorable interest on deposits for pensioners

For certain categories of depositors, such as pensioners, Sberbank offers special conditions for deposits. For example, placing funds in deposits " Save"And" Top up»Retirees can expect higher interest rates. On the first deposit, the yield ranges from 5.50% to 8.00%, and on the second from 5.55% to 7.25%.

There is also a special deposit program designed only for pensioners - the Pension Plus deposit. Funds can be deposited for up to three years and at a rate of 3.50%, if we take into account the conditions for capitalization of interest, the actual rate will be 3.67%. The minimum amount for opening a deposit is 1 ruble. There is the possibility of replenishing the deposit, as well as withdrawing funds up to the amount of the minimum balance.

Table 3: Interest rates on deposits for pensioners in 2013

For those who are still thinking and do not want to somehow limit themselves at the disposal of their funds, Sberbank offers the deposit "". The interest on demand deposits is 0.01%.

Sberbank's deposits have been among the most demanded for a very long time, which is due not only to the high level of public confidence in this financial and credit institution, but also to the fact that Sberbank is trying to offer its clients deposit conditions that are really relevant for the modern financial market! In 2013, Sberbank provides deposits on different terms. In the line of Sberbank deposits, there are offers aimed at clients of different ages and levels of financial wealth, deposits, both short-term and long-term, opened in Russian rubles and in foreign currency.

In addition to the usual for all deposits that have a fixed term and a predetermined interest rate, now Sberbank also offers deposits that provide for the possibility of partial withdrawal of funds, as well as replenishment. The interest rate on such deposits may vary depending on the current balance of funds on the client's account. Income on various Sberbank deposits can be paid monthly or at the end of the term of the deposit agreement. At the request of the client, interest on the deposit, paid monthly, can be capitalized, i.e. add to the amount of the deposit, which will significantly increase its profitability.

Types of deposits and interest

Sberbank offers its regular and new customers a fairly wide range of deposits, among which everyone can find one that will allow him to increase his level of well-being and receive additional income through the profitable placement of free funds.

Donate Life

Almost all deposits of this bank can be opened both in rubles and in dollars or euros, with the exception of one deposit, called Give Life - this deposit is opened only in rubles. Interest rates on deposits differ depending on the type of deposit, and are also directly dependent on its amount and the term for placing funds - the larger the amount and term of the deposit, the more attractive the interest will be.

"Save" deposit

In 2013, Sberbank can open a deposit "Save" for a period of 1 to 36 months in the amount of 1,000 rubles. Interest on this deposit ranges from 5.15 to 8.75% per annum on deposits in rubles, from 1.35 to 4% per annum on deposits in US dollars and from 1.25 to 4.5% per annum on deposits in euros. Interest on this type of deposit is accrued monthly and, at the request of the client, the accrued interest can either be withdrawn, or transferred to a separate account, or capitalized.

Deposit "Replenish"

The Deposit Replenish in 2013 differs from the Deposit Save in that this type of deposit provides for the possibility of adding funds, as well as revising the size of the interest rate if the amount of the deposit exceeds a certain threshold. The deposit can be opened for a period of three months to three years, and interest rates on it can range from 5.1 to 8% for deposits in rubles, from 1.35 to 3.75% for deposits in US dollars and from 1, 25 to 4.25% on deposits in euros. Interest on this deposit is calculated monthly and can be withdrawn by the owner of the deposit or capitalized.

"Drive"

The Manage deposit differs from the deposits described above in that it allows for the possibility of spending transactions, i.e. if necessary, the depositor can withdraw part of the deposit at any time. As well as in the Deposit Replenishment, it is possible for this deposit to make additional funds to the account. Another difference between the Manage deposit in 2013 is that the minimum deposit amount is 30,000 rubles or 1,000 dollars, but the terms remain the same and can range from three months to three years. Interest rates on this Sberbank deposit range from 4.55 to 7.25% per annum on deposits in rubles, from 1.3 to 3.55% per annum on deposits in dollars and from 1.1, from 4.1% per annum on deposits In Euro. Interest on this deposit is accrued monthly.

A special place in the line of Sberbank deposits is held by a deposit called Give Life, which can only be opened in Russian rubles. This contribution is of particular interest to those who want to help seriously ill children, because 0.3% per annum of the amount of the contribution is transferred every 3 months to the account of the Podari Zhizn charitable organization. The interest rate on the Podari Zhizn deposit is 8% per annum, and interest is calculated every 3 months. The minimum deposit amount can be 10,000 rubles, and its term is 1 year.

Sberbank: deposits in rubles and foreign currency, issued online

Those Sberbank clients who have connected to the remote access system to the services of Sberbank-Online have a unique opportunity to issue a bank deposit on the most favorable terms. Now each user of Sberbank-Online can independently arrange a deposit in the system using a convenient and intuitive interface and following the prompts. With this method of opening a deposit, customers can expect to receive a higher interest rate, which on deposits in rubles will be higher on average by 1%, and on deposits in dollars and euros, on average, by 0.15%.

In the Sberbank-Online system, you can issue such deposits as Save Online, Replenish Online and Manage Online, the conditions for which will be similar to those offered for traditional deposits, but the interest rate will be higher.

Sberbank deposits for pensioners

Taking care of people of retirement age, Sberbank has developed special offers for some of its deposits, which are valid only for retirees. For such deposits of Sberbank as Save and Replenish for people of retirement age, there are special conditions that allow them to count on getting more income on the deposit due to a higher interest rate. So, for example, on the deposit Save for pensioners, rates are offered in the amount of 6.15 to 8.75 on deposits in rubles, while for all other categories of the population there are interest rates in the amount of 5.15 to 8.75. On deposit Top up rates for pensioners are also more attractive - from 6.05 to 8% per annum versus from 5.10 to 8% per annum for everyone else.

In addition, there is a separate type of deposit in the line of Sberbank deposits, which can only be used by pensioners. This deposit was named Pension-plus and involves the receipt of income on pension funds transferred from the bank account. In this case, income is charged daily to any account balance, even if it is only 1 ruble. The interest rate on this type of deposit is 3.5% per annum and remains unchanged throughout the term of the deposit agreement. At his will, the pensioner can withdraw the necessary funds from the deposit, as well as make its replenishment. You can also leave the bank a regular order for the monthly payment of utilities, which will be made from the deposit funds.

Sberbank of Russia: deposits for a variety of clients

It should be noted that in recent years Sberbank of Russia has made a huge leap in the quality of service to its customers and has significantly expanded the list of products and services it offers.

As Sberbank, the official website, writes, their interest rates are the most profitable, but is this really so? If you look closely at similar offers from other large banks, you will notice that in fact the interest rates offered by Sberbank are not that high and sometimes lose to the offers of other banks, which promise their customers 10% and sometimes even up to 12% per annum. ... It should be noted that these are also solid banks with a good reputation, participating in the deposit insurance system.

So why do so many people choose Sberbank of Russia as their bank, if you can find offers that are even more profitable? Basically, people do it just out of habit, continuing to consider Sberbank the best and most reliable, and sometimes simply because they are afraid of changes in their lives, even if it is just about changing the bank!

Since January 2013, we have published monthly a selection of proposals for bank deposits, choosing the maximum interest rate as the main criterion, including taking into account capitalization. In this publication we will try to analyze the change in the average interest rate throughout the year.

For averaging, we took five maximum (taking into account capitalization) interest rates on ruble deposits and three on foreign currency. The results are shown in graphs 1-3.

Chart 1. Change in average interest rates on ruble deposits in 2013

Graph 2. Change in average interest rates on US dollar deposits in 2013

Chart 3. Change in average interest rates on deposits in euros for 2013

It is interesting to analyze the dynamics of changes in interest rates during the year. Consider the interest rates on ruble deposits. Over the year, they decreased by 8.3%, with the lion's share of this change occurring in December - 3.7%. An even more impressive picture of interest rates adjusted for capitalization (effective interest rates). Over the year, this indicator fell by 12.3%, and in December the average effective interest rate fell by 5.7%! Such dynamics cannot be explained by any market mechanisms. The situation will become clear if we remember that on November 20 Master-Bank's license was revoked. At that moment, a mechanism was launched to revolutionize the Russian banking system. It is well known that the best way of progress is evolution, but Russia always and in everything gravitates towards revolutions.
Even more impressive dynamics was demonstrated by interest rates on dollar deposits. Over the year, they decreased by 20.2%, and over the last month of the year - by 9%. This is explained, in our opinion, on the one hand, by the processes in the banking sector, which were mentioned above, and on the other, by the expected depreciation of the ruble in the near future, and by Russians shifting their savings into foreign currency (the US dollar is the most popular in our country) ...
As for the European currency, its dynamics for the year was no exception. Interest rates on deposits in euros decreased by 13.3% over the year, and by 4.3% over the last month of the year.
We think that in the short and medium term, interest rates on deposits will continue to decline, but not as fast as in December. In the long term, if the Russian economy develops according to the worst-case scenario (very low or even negative GDP growth), interest rates on deposits may start to rise.