The Ministry of Finance proposed to introduce a progressive scale of personal income tax on deposits

The Ministry of Finance of the Russian Federation proposed to adjust the procedure for paying personal income tax on interest on bank deposits. From 2027, banks will withhold tax at a rate of 13%, and tax authorities will take additional charge taking into account the progressive scale. By the end of 2027, credit institutions will have to adjust their systems.

Currently, the non-taxable income limit on deposits is calculated as 1 million rubles, multiplied by the maximum key rate of the Bank of Russia for the year. For income in 2026, it amounted to 160 thousand rubles (the maximum rate is 16%). The bank considers income on customer deposits and transfers data to the Federal Tax Service, and the Federal Tax Service already calculates the tax to citizens. Now the tax rate is 13% on interest income up to 2.4 million rubles. and 15% on the excess amount.

The proposed innovations relate to several positions. First, the changes will affect the calculation of the tax-free limit. From 2027, it will be calculated based on the maximum rate for the previous year (now for the current one). For example, for income in 2027, the maximum rate for 2026 will be taken - 16%, and the non-taxable limit will be 160 thousand rubles.

Second, the five-step progressive personal income tax scale will extend to passive income. The changes include not only interest, but also dividends, income from the sale of property, transactions with securities and digital rights, insurance payments and donated property. The rates will be as follows: 13% to 2.4 million rubles, 15% from 2.4 to 5 million rubles, 18% from 5 to 20 million rubles, 20% from 20 to 50 million rubles and 22% over 50 million rubles.

Banks will also become tax agents. From 2027, they will begin to withhold personal income tax immediately when paying interest. Each credit institution will consider the non-taxable limit only on its own payments - the client's deposits in other banks are not visible to it. If at the end of the year the total income exceeds the threshold, the FTS will send a notice of additional payment. At the same time, unused standard, social and part of property deductions can be applied to income from interest on deposits.

- The changes will affect primarily wealthy citizens who receive passive income, including interest on deposits, explains Alla Khachemizova, head of FinProfService, for MK in Karelia. Now the interest tax is limited to 15%. It is proposed to introduce a progressive scale depending on income: the increased rate will be applied already with income over 2.4 million rubles. per year. For the majority of savers whose interest income does not exceed the tax-free limit, nothing will change; noticeable changes will affect those whose aggregate passive income is significantly higher than this bar.

The State Duma adopted bill No. 617-9 (amendments to the Tax Code on the progressive personal income tax scale for passive income, including deposits) in the first reading on October 29, 2026. The second reading is scheduled for November 19, amendments to it were adopted until November 12. After it, the document will have a third reading, approval by the Federation Council and the signature of the president - the details may yet change.