OREANDA-NEWS  If the tax on long-term deposits is abolished, Russians' demand for such services will grow by an average of two to three percent per year. This is how the consequences of the authorities' initiative were assessed by BitRiver financial analyst Vladislav Antonov, his words are quoted by Gazeta.Ru».

Long-term deposits are not very popular among Russians because of the low interest rate and the inability to revise it without losing interest income. At the same time, they satisfy the government's goal of fixing citizens' free money in products and services.

"The most popular deposit will remain for a period of up to six months with a rate of 14.5 percent per annum. The maximum term of a ruble deposit, which is now offered by Russian banks, is three years. There are also longer deposits somewhere, but they are not so common," the expert explained.

The authors of the bill on tax exemption of Russian bank deposits for a period of three years or more were Anatoly Aksakov, head of the State Duma Committee on the Financial Market, and Nikolai Zhuravlev, Vice Speaker of the Federation Council. "Long money" is important for the country's economy, so the Ministry of Finance and large banks supported the idea.

The share of long-term deposits is important for credit institutions, since it reduces interest rate risks in case of sudden changes in the market, and the volume of attracting such funds helps, among other things, the real sector to plan business for a longer horizon.