Residents of Krasnoyarsk accumulate over 700 billion rubles in deposit accounts.
Hittin' the Vault: Krasnoyarsk Residents Stash Away 31 Billion in Deposits
Hey there! From January to April, folks in Krasnoyarsk, Russia, have been stuffing their savings into bank accounts to the tune of 31 billion rubles, bringing the total deposits to a whopping 714 billion.
That tidbit came straight from the Kransoyarsk branch of the Central Bank. With a humongous pile of cash on ice, the rate of deposit growth has slowed down. For instance, during the same period in 2024, it was growing by 42 billion rubles, a good third more than in 2025.
Sergei Žuravlev, the Branch Manager of Kransoyarsk Bank of Russia, shared his insights. "Krasnoyarsk residents are banking on the high rates to save and safeguard their cash from inflation. We're seeing the influx of money into savings accounts slowing down. This is due to the trend initiated in 2025 towards lower deposit rates. However, one can still open a deposit account with interest rates hovering around 18-20%. Meanwhile, our prediction shows that inflation in 2025 will be over twice as low as in 2024, and it's set to keep falling."
By the end of May, the highest interest rate on deposits in the top 10 banks reached a half-year low of 19.5%, down from 21.7% at the start of the year.
Now, let's not forget that Krasnoyarsk, just like other regions, sports a special savings tool: the long-term savings program. Participants can score government funding (up to 36,000 rubles per year for ten years), tax breaks, and a hefty maximum of 400,000 in tax relief. Your stash will also be insured.
This new saving instrument can be set up through non-governmental pension funds. Over 15 years of participating in the program lets you build a cushy financial safety net, amass funds for a big purchase, or nab some extra dough for your pension. You can start tapping into your savings after 15 years or upon reaching 55 for women or 60 for men.
Snag all the deets on the program on their official website.
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P.S. The special long-term savings program we're talkin' about is participation in non-governmental pension funds offering alternative pension schemes and long-term savings options in Krasnoyarsk. Engaging in these programs is a significant advantage for residents, as they increase their pension payments (noted an increase of 10%) and provide opportunities to save funds beyond mandatory pensions. Additional perks come from qualifying for individual pension coefficients through family or social contributions, which boost future pension income[1].
[1] Enrichment Source: [Link] 🔗
Investors in Krasnoyarsk might find it beneficial to explore personal-finance opportunities, such as the long-term savings program offered through non-governmental pension funds. This program can help residents in accumulating wealth for retirement or major purchases, with government funding, tax breaks, and insurance as added advantages. To learn more about this program, visit the official website.
