Condition for mass refusal of Russians from bank deposits named

After the reduction of interest rates on deposits, Russians will massively refuse to deposit money into banks; this condition was named in a conversation with the Prime agency by Nikolai Kuznetsov, associate professor of the Finance and Credit Department at the State University of Management.

He pointed out that the average rate dropped from 21.5 to 19.5 percent at the beginning of the year, after which the inflow of funds into deposits slowed down. The expert added that the population is not yet withdrawing their funds, but is also rushing to put them into accounts.

Kuznetsov believes that the active part of depositors will react when the rate is reduced to 14-15 percent and will direct money to stock markets or consumption. The passive part will not rush to withdraw funds, but will not bring new ones to the bank either, observing the economic situation.

Earlier it became known that in Russia interest on three-year deposits may be exempt from income tax. This was stated by the Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov .