A financier warned Russians about a mistake when lowering interest rates.

      However, hastily closing old deposits in favor of new offers can lead to financial losses, RIA Novosti was told by Elmira Asyaeva, an associate professor in the Department of Global Financial Markets and Fintech at Plekhanov Russian University of Economics.

      According to her, when a deposit is closed early, bank customers often lose all previously accrued interest. In such cases the return is recalculated based on the minimal on-demand rate — about 0.01–0.1% per annum. As a result, if the deposit was opened at a high rate several months ago, the profit is effectively wiped out.

      Moreover, new "attractive" bank offers often turn out to be less appealing than they first seem. Elevated rates may apply only for a limited period or to part of the amount, and may also require fulfilling additional conditions — for example, actively using a card.

      Asyaeva advises approaching the choice of deposits rationally: carefully read the terms of the contract and evaluate the potential benefits taking into account the timeframes and possible losses. According to her, decisions should not be made under the influence of emotions or advertising, but based on a long-term financial strategy.