The calculated rate: income from deposits over 210 thousand will be taxed
By the end of 2025, income from deposits exceeding 210 thousand rubles will be subject to interest tax. This amount will not change unless force majeure occurs and the Central Bank raises the key above 21%. Experts are confident that the Bank of Russia has begun a cycle of monetary policy easing and it will continue to reduce its key rate until the end of the year. To get an income of 210 thousand. from savings, deposits should contain more than 1 million rubles, but the figure varies depending on the conditions of the banks. In 2026, the authorities expect to receive 262 billion rubles from the tax on interest on deposits. Whether this plan is feasible is in the Izvestia article.
How to calculate income tax on deposits
The tax on interest on deposits is calculated as 1 million rubles multiplied by the maximum value of the key on the first day of each month in the reporting year. In 2025, the rate did not rise above 21%. Thus, the tax base will amount to 210 thousand rubles (the same amount was at the end of 2024). The indicator can change only if the key rate is sharply raised before the end of the year and becomes above 21%. However, such a scenario is extremely unlikely, experts say.
On June 6, the Bank of Russia lowered the rate for the first time in three years, from 21% to 20%. The last time a decision was made to lower it was in September 2022, when it was lowered from 8% to 7.5%. After that, for almost three years, the Central Bank made only decisions to raise the key rate or to keep it at the same level.
The probability that the regulator will increase the rate to 21% by the end of the year is extremely low, says Bogdan Zvarich, head of Banking and Financial Market Analysis at PSB. The Central Bank has switched to easing monetary policy back in June, and this month the cycle continued. At a meeting of the board of Directors on July 25, it was decided to lower the key immediately by 2 percentage points, to 18%.
By the end of the year, the rate may be reduced to 16%, Albert Koroev, head of the Stock market Experts department at BCS World of Investments, expects. He added: if we take into account that at the beginning of 2025, interest on deposits in banks was about 21%, then it would take 1 million rubles to earn 210 thousand.
The amount above this amount will be subject to a personal income tax rate of 13% (and if income exceeds 5 million rubles — 15%). The Federal Tax Service will independently calculate the amount of tax for 2025 and notify those who have to pay it. This must be done by December 1, 2026.
At the same time, you need to take into account the profitability of the deposit and the term. For example, if it was opened at the very end of last year and the rate on it was 20%, then the person should have a little more than 1 million rubles, so that the result would be an income of over 210 thousand rubles, said Bogdan Zvarich from the PSB.
At 18% per annum, an amount of about 1.1 million will be required, and at 16% — 1.3 million, added Ilya Vasilkov, head of the Deposits product at Compare.
— In addition, it is important to understand that the tax is calculated on the total income from all deposits in all banks. If a person has several of them with different terms and rates (for example, some of the funds are at 15%, and new deposits are open at 19%), an amount in the range of 1.1 to 1.4 million rubles will be required to qualify for tax," he concluded.
How many Russians will be subject to the tax
In 2024, for the first time, Russians paid a fee on interest received in 2023 on deposits. At the same time, taxation of deposits does not reduce their popularity, as they bring attractive returns, even taking into account the fee, said Bogdan Zvarich from PSB. According to the Finuslugi portal, at the beginning of this year, the average maximum deposit rate for a year in leading banks was 20.8%.
It is difficult to name the exact number of citizens who will have to pay tax by the end of 2025, but there will be relatively few of them, says Igor Dodonov, an analyst at Finam. At the end of March, 95% of Russians had account balances of less than 1 million rubles, and the average deposit amount (excluding those with up to 1 thousand rubles) was 413 thousand.
There are no official statistics on how many Russians have savings products in total. According to a VTsIOM survey, almost every third resident of the country has deposits (30%).
Despite the high rates, the tax will still affect a relatively small part of the population, mainly the wealthy segment, Ilya Vasilkov agreed. However, in conditions of high deposit yields, the tax threshold is reached with lower deposit amounts than it would be at rates of 7-10%.
In total, according to VTB's forecast, in the first six months of the year, Russians will receive about 4 trillion rubles of income from interest on deposits. This is one and a half times more than in the same period of 2024. According to the bank, for the whole of 2025, the interest income of the country's residents on deposits and savings accounts will amount to about 9 trillion rubles.
How much tax on income from deposits will bring to the budget
In 2025, revenues to the federal budget from the tax on interest income on deposits will amount to 251.5 billion rubles. According to the forecast of the authorities, 262 billion rubles will be received from this article in 2026, and 173 billion rubles in 2027.
The plans look realistic, given the still high rates and the continued influx of public funds into banks, said Igor Dodonov of Finam. Such a forecast is quite achievable and will depend on two key factors, noted Ilya Vasilkov from Compare.
According to him, if the Central Bank is forced to keep the rate at a high level for the whole of 2025, then the interest income of the population will be very significant. The second factor is the amount of funds on deposits. High rates stimulate the flow of money to banks, and if the total portfolio of deposits continues to grow, the tax base will increase, he concluded. As of July 1, citizens had almost 43 trillion rubles in deposits in banks.
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