“The certificate will be irrevocable, which means that banks will be able to offer customers a higher, profitable interest income. And of course, these funds of citizens will also be insured by the state in the amount of up to 2.8 million rubles,” Putin said in a message to the Federal Assembly.
However, there is no answer yet to the question of how credit institutions will be able to offer increased rates on such instruments. Now the share of long—term money is extremely small – deposits for more than three years account for only 1.6% (728.3 billion rubles) of the total volume of bank savings of individuals in the amount of almost 44.9 trillion rubles. By the way, in the 1990s and 2000s, irrevocable certificates became somewhat widespread in the banking system, but eventually did not take root.
“Most likely, this financial instrument is being created in order to attract more funds from individuals to the banking sector,” says Alexander Schneiderman, head of Sales and customer support at Alfa-Forex. – On the one hand, such a savings certificate is a guarantee that a person will not withdraw their money for at least three years. And long-term deposits are welcomed by banks. At the same time, the state fully supports this mechanism by increasing the amount of insurance to 2.8 million rubles. Russians often keep deposits of less than 1.4 million rubles in banks precisely for the reason that insurance covers only such an amount.”
In theory, everything looks quite attractive, but it is not known how popular these savings certificates will be. Their target audience is people who keep money in other instruments today. Basically, we are talking about those who have savings in the amount of several million rubles, sums up Schneiderman.
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