Tvoy Raschet

Savings account: what it is

A bank account that earns interest, but you can withdraw or top up money at any time without losing income. The rate is usually lower than on a deposit, and the bank can change it.

In Russian: Накопительный счёт·Nakopitelny schet

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

Russia

Money in a savings account is insured by the Deposit Insurance Agency (АСВ, ASV) up to 1.4 million ₽, together with deposits in the same bank. The interest counts towards the tax-free allowance for personal income tax (НДФЛ): 160,000 ₽ for 2026 income.

Kazakhstan

A similar product is a demand deposit (несрочный депозит): you can withdraw and top up money at any time. The KDIF guarantee (КФГД) on it is lower than on savings deposits.

Belarus

Similar products are revocable deposits and demand deposits: you can take your money at any time, but the rate is usually lower than on irrevocable deposits.

Sources: Financial Culture (Bank of Russia): savings account and deposit («Финансовая культура»)

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

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.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.Deposit insuranceA state guarantee: if a bank loses its licence, the Deposit Insurance Agency (ASV) pays the depositor back up to 1.4 million ₽ per bank, including interest.Tax on deposit interestPersonal income tax (НДФЛ) on interest from deposits and savings accounts. The amount of 1 million ₽ × the highest key rate of the year (160,000 ₽ for 2026) is tax-free; the rest is taxed at 13%.Key rateThe main interest rate of the Bank of Russia: the rate at which it lends to banks and takes their spare money. It drives deposit and loan rates, tax on interest and late-payment penalties.

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