In Uzbekistan, the returns on sum deposits have decreased.

The Central Bank reports that the yield on bank deposits in Uzbekistan has decreased.

Specifically, in November 2024, the average interest rate on bank deposits in the national currency dropped to 19.4%. The rate for deposits with a term of up to one year also fell to 16.9%, while the rate for long-term accounts remained at 20.6%.

Compared to October, the rates for individuals remained unchanged at 22.1%, with short-term deposits at 20.9% and long-term deposits at 22.4%. In contrast, the yield on corporate accounts decreased to 16.3%, dropping to 14.9% for short-term accounts, while long-term rates stayed at 17.6%.

The yield on foreign currency deposits increased to 5.2% compared to July 2024, due to a rise in the rate for short-term deposits to 5.6%, while the long-term deposit rate remained unchanged.

The average rate for currency accounts for the population also rose to 5% compared to August 2024. The yield on short-term deposits dropped to 3.1%, while long-term deposits increased to 5.5%. Corporate deposits grew to 6.3% for the first time since 2019, with short-term deposits more than doubling to 5.8%, while long-term deposits decreased to 6.4%.

It was previously reported that Uzbeks are using cash less frequently. Residents are increasingly opening deposits more often.