Average maximum rate on deposits of the Russian banks for the first time in history fell below 5%. Bankers are sure that rates on deposits will continue to decline, they do not have consent only on terms. Some experts believe that a new round of decline will have to wait until the fall, while others believe that falling interest rates will not stop and by the end of summer is to wait for rates to 4.5%. And if the plans of the Central Bank to further reduce key interest rate will be obvious, the interest on deposits can fall below 4%.According to the Bank of Russia, published on Friday, 26 June, the average maximum rate of the ten largest banks by volume of deposits in the second ten days of June fell to a low of 4.99% APR. Central Bank a week ago cut its key rate by 1 percentage point (PP), also to a historic low of 4.5%. Over the past week a few of the major banks reacted to the actions of the Central Bank. According to Frank RG, Deposit rates by 0.1–0.3 percentage points decreased MKB Bank, Transcapitalbank, “Zenith”, “Open”, 0.4–0.6 PP— Rosselkhozbank, Bank “Saint Petersburg”, “URALSIB”, Primsotsbank, of 0.7–1.0 p. p.— Avangard, Credit Europe Bank, OTP Bank. According to Frank RG, at the end of this week for the annual Deposit amount of 100 thousand rubles maximum rate that exceeds the key rate of the Central Bank, remained in VTB, “FC Opening” Mail-Bank, Rosselkhozbank, ICB Sovcombank, HCF-Bank, banks “St.-Petersburg” and “Tinkoff” and several others.The decision of the Bank of Russia on a sharp decline in the key rate was expected for many financiers, especially the regulator does not just talk about it. “Many banks have already laid this reduction in their existing offerings for customers,”— said the Chairman of the Bank “Russian standard” Aleksandr Samokhvalov. “It can be expected that interest rates on deposits and saving accounts will not change much in the short term. But they may decline in the long term by about 0.5 percentage points in anticipation of further reduction of the key rate regulator,” he predicts. As suggested by the managing Director Absolut Bank Anton Pavlov, the rates will decrease in the fall. In Gazprombank also do not expect a dramatic change.As noted by head of savings and investment business of the Bank “FC Opening” Alexander Borodkin, usually on a cycle of sharp decline in interest rates banks try as often as possible to reassess the portfolio of deposits, therefore, be expected to bias the most attractive offers for short terms (three to six months). “Average rates on deposits during the summer can drop to 4.3–4.5% per annum, and rates on savings accounts — up to 3.5–4% per annum”,— said the head of the Department of analysis of banking and financial markets PSB Ilya Ilyin. According to him, the further reduction of the key rate and the gain of the signals the continued easing of interest rate policy, the Central Bank can reduce interest rates on deposits to 4% and below.Analysts also believe that the banks will play the reduction of the key rate in the coming weeks. At the same time managing Director of rating Agency NKR Stanislav Volkov indicates that the potential for further reduction of the key rate “was more limited” and therefore “less likely to meet the situation when interest rates on short deposits will be considerably higher than for long”. On the contrary, he said, banks may “try now to bet on attract longer deposits for a period of two years and more.” This is confirmed by the statistics of Bank deposits for may: portfolios long noticeably thinner deposits, while savings accounts grew (see “Kommersant” on 26 June). Associate Director on Bank ratings “Expert RA” Vyacheslav Putilovsky expects that banks will be cautious to cut rates in order not to provoke the outflow of deposits. “Despite low official inflation rates, the yield on deposits is becoming less attractive against the background of rising utility tariffs and prices for goods and services,” he points out.Maxim Belovolova on deposits from RUB 1 million in the top 10 bankautomat next