A Sweet Deal with 30% Interest from Promsvyazbank: High-Yield Savings Without the Hassle

I'm not one to write reviews until I've gotten a decent return on my investment, but in the case of the 'Narodny' deposit from Promsvyazbank, I'm making an exception. This product is brand new, and the interest rate – currently a whopping 30% per annum – is one of the best offers on the market, with a minimum term of just three months. I mean, who wouldn't want to earn 30% interest on their savings?

Narodny Deposit from Promsvyazbank - 30% per annum. Basic terms from the bankOf course, the Promsvyazbank deposit comes with its own set of rules. But honestly, they're pretty straightforward.

The main advantage of this product is the ability to earn the maximum interest rate 'directly', without relying on third-party platforms like Finam or Banki.ru, and without needing to meet any additional conditions. To open a deposit with a 30% interest rate, you don't need to have a card with a minimum turnover, or subscribe to premium services, or be a premium client with the bank. It's really that simple.

However, there are some restrictions: the 'Narodny' deposit is only available to new customers or those who haven't had any other deposits with Promsvyazbank in the past 180 days. The deposit amount is fixed at 50,000 RUB, and the term can be 91, 181, or 365 days. In today's world, these terms might seem a bit short, but I'm willing to make a bit of extra effort (the deposit can be opened easily through the mobile app or the bank's personal account).

People's PSB Deposit. Limiting Conditions If the 50,000 ruble sum seems not worth the hassle, then Promsvyazbank has another product in its vault - marked with a 'plus' sign. This one's called 'Narodny Plus', and it's basically an upgraded version of the original deposit. To open a second 'people's' account, you need to reflect the transaction in your operation history - transferring at least 18,000 rubles (including a deposit from another bank where the DBO is tied to the same phone number as your PSB account) to yourself in St. Petersburg. The 'people's plus' offer appears a couple of days after you've made an NSPB transaction. The additional deposit amount is not fixed - it's between 10,000 and 100,000 rubles. The accumulation conditions are identical. The only condition for opening is through the mobile app or the internet banking account.Promsvyazbank Deposits at 30% per annum: People's and People's Plus For those who've never been a Promsvyazbank client

I recently became a client of PSB, and it was in November when I opened a debit card under the '25% cashback on all purchases' promo. So, I haven't had time to thoroughly assess the loyalty program and potential pitfalls in working with the bank. However, what I encountered during the initial stages - I really liked. The debit card is free to maintain, and the cashback offer is pretty generous. Plus, the service at the bank office is top-notch.

The DBO from PSB is worth opening not only for the interesting deposit and savings account offers, but also for the comfortable loyalty program. A free-to-maintain debit card. Increased cashback in interesting categories (the list is known in advance, and you choose what you need monthly). Adequate and fast service in the office (that's how it is in our city - without trying to sell you additional services). The interface in the internet banking might be a bit basic, but it's intuitive and easy to understand. And the most important thing - all the information is fully reflected online, including signed electronic contracts that you don't need to 'dig up' and calculate the accruals manually.

I opened my ДБО (debit card account) in a few ways, including remotely with home delivery by courier. I opted for the simpler option - I went to the bank office with my passport and a pre-downloaded bank app on my phone. The registration and card pickup process took around 30 minutes. There was no crowd and no queue. The only inconvenience was that the SMS for consent arrived late. The bank representative at the counter listened to my request and disabled all unnecessary permissions, like consent for advertising from third-party partners. I also disabled the paid SMS notification option in my bank's online account.

I didn't use the opportunity to get the maximum 'perks' for opening the card with PSB. Why not? I don't feel like sharing my personal data on external resources just to get a 500₽ certificate from the Golden Apple. If you're interested in this question - look for referral links from bloggers, they're plentiful online on financial forums and websites.

PSB's community contribution. Full conditions of the agreement (from my online account) Opening the 'Narodny' depositTo open the 30% interest-bearing savings account, I used the offer in the bank's app. Besides remote access, the 'Narodny' (without the 'plus' mark) can also be opened through a bank office branch. The latter option is more suitable if you're a completely new client for PSB.

PSB's offer to open the Narodny deposit in an MFD bankFor those who have a ДБО in Promsvyazbank, it's more convenient to use the first option. IMHO, the process is simple and very fast. All conditions and the signed agreement for opening are reflected on the screen. Client consent is confirmed by SMS (acting as an electronic signature). The expected payout amount is immediately visible. I opened the deposit for 3 months, so I'm expecting a payout of 3777.45₽ in March. The funds for investment are withdrawn from my card account, and after the investment period ends, the amount, including accrued interest, is transferred back to my card account.People's Savings Bank. Opening through MP. Choosing deposit and withdrawal options from the savings account I've been using this product for a while now, and I'm impressed by how easy it is to get started. Key consumer characteristics:

This is a product from a state-owned bank with a 100% guarantee up to 1.4 million rubles;As of the beginning of December 2024, this is the best high-yield savings account with a 30% annual interest rate;You don't need to meet any additional conditions to get the maximum interest rate;You can open an account directly, without any intermediaries;This product is only available to clients who have a digital banking service with People's Savings Bank;You have the flexibility to choose from three deposit terms: 91, 123, and 367 days;You can open an account in a branch or through the mobile app;This product is perfect for new customers or those who haven't made any deposits in over 180 days;The minimum deposit is 50,000 rubles, and you can't deposit more or less;You can also open a supplementary account called 'Narodny Plus' with a deposit of 10,000 to 100,000 rubles;The account opening process is straightforward and can be completed online, with just a few clicks and an SMS confirmation;You can deposit money into your account either in person at a bank branch or by transferring funds to your account;The account dashboard provides a clear and transparent view of your account information, including a forecast of your expected payout;Once the deposit term ends, the interest and principal are automatically transferred to your other account;There's no need to take any additional steps to close the account.Summary: as of the date of this review, the 'Narodny Vklad' savings account from People's Savings Bank is one of the most attractive options in terms of interest rates. Considering the current refinancing rate of 21%, the opportunity to deposit money at a 30% interest rate for a short term is really appealing! This product from Promsvyazbank has minimal conditions for opening and will suit most depositors (not millionaires) who want to save and slightly increase their free funds. I highly recommend it!