Are you planning to open a deposit? Be careful

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

A reasonable decision in an effort to increase free money can be opening a deposit in a bank. This simple procedure can be complicated only by the choice of a credit institution. Competition forces banks to go to all sorts of tricks in pursuit of customers. Advertising slogans excite the minds of potential investors, offering the most favorable conditions. Let's try to figure out how deposits are beneficial and what is behind the high interest rates that appear in banking offers.

Placement of cash deposits has always been and remains the most popular financial instrument. In the old days, only savings banks could provide reliable storage and growth of money. Since then, the number of banks has grown exponentially. The simplicity of the procedure for placing funds is ensured by the fact that no additional documents are required to open a deposit. It is enough for a Russian depositor to have only a passport with him, foreigners additionally present a migration card and registration inour country.

The difficulty for the client when investing money is only in choosing a reliable bank and type of deposit. High interest rates, up to 11.6% per annum, are most often offered on condition that funds are deposited for a long period. Thus, opening a BPF+ deposit in the Project Finance Bank will bring the client a profit of 11.15% per year with a placement period of 549 days. Ergobank has practically the same conditions with the Yantarny deposit. These two deposit products currently top the list of effective deposits compiled by banking experts.

The main part of the deposits offered by banks is guided by an interest rate of 9-10% per annum. It is possible to speak about the receipt by the investor of significant profit only when investing capital in a financial institution for a long time. Such a proposal, for example, is announced by Otkritie Bank. Deposits "Classic" to receive an interest rate of 10% set the minimum deposit amount - 3 million rubles, the placement period - 3 years. Interest can be received either monthly or added to the main deposit and received at the end of the contract.

However, the same experts categorically do not recommend opening a deposit for an amount exceeding 700 thousand rubles per deposit. The insurance system limits the amount of compensation at the closing of the bank to this limit. When choosing a bank and a type of deposit agreement, it should be remembered that opening a deposit with an average interest rate may be the most profitable.rate if the following parameters are present:

• opportunity to replenish the deposit;
• capitalization of the deposit, providing for the accrual of "interest on interest";
• possibility of early termination of the deposit agreement with minimal loss of interest.

And the last thing: when investing large amounts of money for a long period of time, it is preferable to open several deposits in different currencies. Such foresight will help ensure that capital is invested efficiently and safely.