VTB Raises Interest Rates on Long-Term Deposits
From September 16, 2026, VTB increased rates on ruble long-term deposits, with the maximum yield reaching 13.9% per annum for Private Banking clients with a term of 1.5 years. For regular retail customers, the rate will be 13.7%, and for users of the “Privilege” program — 13.8% per annum.
This rate increase is significant, representing a rise of 2.4 percentage points compared to previous levels. The decision aims to attract and retain client funds amid a stable Central Bank key rate.
Context and Deposit Volume Forecasts
According to VTB’s forecasts, the total volume of funds attracted by Russian banks in 2026 could reach 71 trillion rubles, with growth rates expected to remain steady in 2027. This reflects the ongoing demand from both the population and businesses for reliable savings instruments and investment stability.
Raising rates on long-term deposits helps create a stable cash flow in the banking sector and encourages savings among the population, especially amid high inflation and economic uncertainty.
Central Bank Reaction and VTB’s Strategy
At its latest meeting, the Central Bank of Russia left the key rate unchanged. VTB views this as a signal to maintain high savings rates for long terms, avoiding dependence on potential financial market fluctuations.
Roman Shaekhov, Deputy Head of VTB’s Retail Business Unit, emphasized that the rate increase will support clients planning to accumulate funds without expecting major purchases in the near future. This underscores the bank’s focus on clients’ long-term financial goals.
Maximum Rate on Savings Accounts
In addition to deposits, VTB raised the maximum rate on savings accounts to 14.2% per annum, which is higher than on long-term deposits. These accounts can be held jointly with family members, expanding opportunities for collective family savings.
Earlier, on July 1, 2026, the bank had already increased rates on savings accounts: the maximum yield then was 13.5% for retail clients, 13.6% for “Privilege” members, and 13.7% for Private Banking. The latest increase continues this upward trend in returns.
Comparison with Market Deposit Rates
According to the Central Bank of Russia’s data for the first ten days of September 2026, the maximum interest rate on deposits at the ten largest banks was 12.95%. The average rate for deposits up to 90 days was 12.45%, for terms from 91 to 180 days — 12.76%, from 181 days to one year — 12.53%, and for over a year — 11.43%.
Thus, VTB’s rates on long-term deposits significantly exceed the market average, making the bank’s offers attractive to investors focused on preserving and growing their capital.
Conclusion
VTB’s 2026 increase in rates on long-term deposits and savings accounts reflects the bank’s commitment to support clients amid a stable key rate environment and to encourage long-term savings.