Russia offered to create deposits for the poor

Deputy Chairman of the Central Bank Polyakova spoke about the proposal to create deposits for low-income Russians

The Central Bank of Russia proposes to create special bank deposits for low-income Russians, reported regulator Olga Polyakova. Her statement is quoted by RIA Novosti.

“If we talk about the category of low-income citizens, we propose to develop a mechanism for creating a special bank deposit for people with low incomes,” Polyakova said.

Deposit rate for the poor are supposed to be pegged to the central bank's key rate or inflation. A person will be able to make only one such deposit, and the amount will be limited.

In early November, it was reported that Russian banks increased the cost of paying interest on deposits in the third quarter for the first time in two years. According to bank reports, in the third quarter, retail depositors received 223 billion rubles in interest, which is five percent more than in the second quarter.