As the Central Bank of Russia aims to maintain the attractiveness of bank deposits amid declining interest rates, financial experts are offering advice on how citizens can preserve and grow their savings. Elvira Nabiullina, the head of the Central Bank, has stated that deposit rates will continue to exceed inflation, encouraging saving.

Despite these assurances, average annual deposit rates in Russian banks have already fallen, reaching 17.5% in June, with further decreases expected. This decline prompts concern among savers but presents opportunities for entrepreneurs.

Investment banker Evgeny Kogan suggests that lower rates can stimulate business activity by making loans more affordable, potentially diverting funds from deposits to investments. Yuri Lyanda, an economics professor, highlights the benefits of long-term deposits with annual capitalization, citing an example of 100,000 rubles growing to approximately 210,000 rubles in five years at a 15% annual rate. Lyanda advocates for bank deposits as a stable, low-risk option for those prioritizing savings.

Financial advisor Alexey Rodin recommends locking in long-term, high-yield deposits or investing in long-term federal loan bonds (OFZs). He notes that OFZ prices tend to increase when interest rates fall, offering a conservative avenue for earnings. Rodin also advises monitoring the stock market for signs of economic recovery, which could signal opportunities to invest in stocks.

Ilya Vasilkov of “Sravni” suggests that now is an opportune time to open deposits, as future rates may be less favorable, particularly for short-term deposits. He recommends combined strategies, such as pairing deposits with low-risk investments like shares of dividend-stable Russian companies, bonds, or mutual funds in stable sectors. Vasilkov emphasizes that alternative products with acceptable risk levels and higher yields than traditional deposits are available.