Currency Shift: Decrease in Ruble Deposits but Strengthening of National Currency Rates
Belarusian residents looking to invest their savings may be interested in the current deposit rates offered by Belarusian banks. While a comprehensive list of deposit rates for Belarusian Rubles in Belarusian banks was not readily available in the search results, some contextual information can be gathered from related regions.
In neighbouring Russia, deposit interest rates have been on a downward trend. The average maximum deposit rate dropped to approximately 18.3% annually by June 2025, with Russia's key interest rate reducing from 21% to around 20% earlier in 2025. These reductions have had an impact on deposit rates.
Meanwhile, geopolitical and regulatory factors have led some foreign banks, such as Citibank Poland, to limit their financial operations with Belarus. This could potentially influence local banking conditions. Given Belarus' close alignment with Russia's monetary policies, it is possible that Belarusian deposit interest rates in Belarusian Rubles are somewhat comparable or influenced by the Russian rates, potentially in the high teens percentage range annually.
However, precise and up-to-date deposit rates in Belarusian Rubles can only be found by checking the official websites or contact points of major Belarusian banks or the National Bank of the Republic of Belarus.
In the case of MTBank, rates on several deposits in the national currency have recently increased. The MTBelki Online, a popular non-withdrawable deposit option, offers the following fixed-term rates:
- 12 months: 15.09% per annum
- 13 months: 14.19% per annum
- 14 months: 15.29% per annum
- 15 months: 15.29% per annum (for both 14 and 16 months)
- 16 months: 15.29% per annum
For those preferring a variable rate, the current rate for MTBelki Online (non-withdrawable) stands at 15.19% per annum.
It is essential for potential investors to stay informed about the latest deposit rates in Belarusian Rubles to make informed decisions regarding their savings. By checking the official sources mentioned above, Belarusian residents can find the most accurate and up-to-date information on deposit rates offered by Belarusian banks.
