Tvoy Raschet

Effective interest rate: what it is

The real annual yield of a deposit, taking interest capitalization into account. For example, 15% per year with monthly capitalization gives about 16.08% over a year.

In Russian: Эффективная ставка·Effektivnaya stavka

Banks, deposits and payments Checked by the editorial team Checked: September 2026
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In Russia, Kazakhstan and Belarus

Russia

Banks in Russia usually state both the nominal rate and the effective rate (yield including capitalization). For loans, a similar role is played by the full cost of credit.

Kazakhstan

In Kazakhstan, banks must state the annual effective interest rate (ГЭСВ) on deposits — it is the figure that is convenient for comparing banks.

Belarus

In Belarus, banks also show the effective annual interest rate on deposits and loans.

This information is for reference only and does not constitute financial, tax or legal advice. Prepared by our editorial team, last checked: September 2026. Found an error? Write to us.

Related terms

Interest capitalizationWhen interest earned on a deposit is added to the deposit amount, so next time interest is calculated on a larger sum. This makes your income grow faster.Compound interestA way of charging interest where interest is added to the balance and next time is calculated on the new amount. This makes money grow faster than with simple interest.Interest rateThe price of using borrowed money, as a percentage of the debt per year. For example, at 12% a year, 12,000 ₽ of interest accrues over a year on every 100,000 ₽ of debt.Bank depositMoney you place with a bank for a set period at interest. The bank uses it and pays you income: interest at a rate agreed in advance.Full cost of creditWhat a loan really costs, as an annual percentage and in roubles: it counts not only the interest rate but also insurance, fees and other mandatory payments.

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