‘The end-of-the-year special offers are generally targeted at enticing customers through the emotional excitement of gifts, bonuses, and the like rather than through advantageous interest rates,’ Unicom Partner Investment Company’s Asset Management Director Sergei Kaliberda said to UrBC. In fact, some of the rates bank offer on deposits at New Year are below the inflation rate.

‘This is why we think it best to take all these holiday offers critically and look at the terms carefully. They might end up looking more attractive than they actually are, compared especially to offers launched outside the holiday seasons,’ he added.

‘As for the interest rates, I am sorry to say that the majority of bank deposits fail to offset even the official inflation rate, let alone the actual one,’ Mr. Kaliberda added.