Deposit deposit: conditions, rates and interest on deposits

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

For those who have just begun to master financial instruments, first of all, a deposit is opened. It allows you to minimize the impact of inflation and ensure the safety of funds. What is this tool? What is it used for? What benefits does it provide us?

General information

Man in the modern world can be available to use a large number of different financial instruments. But many of them require significant experience and a huge stock of knowledge. Relatively easy and not difficult in this case is a deposit. To use it, you must be a capable citizen and have a minimum amount of knowledge. Deposit rates allow you to minimize the impact of inflation on savings, and sometimes even slightly increase the amount of available funds. But still, some knowledge is needed.

So, it is necessary to distinguish potential scammers from financial institutions that deal with money. Assume that the country accepts deposits at six percent per annum, loans are issued atfifteen. And then an organization appears that accepts money from the population at 15% and declares the issuance at 30%. Could it be that their words are true? Yes, it is quite possible. But only those who were refused by those offering at 15% will take a loan at 30%. The risk of non-return is growing. It may also be that the collection of funds will simply be carried out for a year or several years, and then the money will sink into oblivion. If the bank is a member of the insurance agency, then a certain amount will be returned. True, interest on deposits will not be paid in such cases. This, however, is not terrible: our money with us is already good. But let's not rush and consider everything in order.

What should I look for when choosing?

So, we want to open bank deposits. Now we need to choose a financial institution that will allow us to be confident that nothing will happen to the funds. What are the points to pay attention to? First of all, you need to look at the transparency of activities. That is, is it possible to find information about shareholders, management, how accessible they are, whether documentation and reporting are open, what measures have been taken for security, the period of operation of a financial institution in the market. All of this is essential.

Besides this, it will not be superfluous to use a calculator to determine the best option. Suppose there is a choice: 20%, which are accrued at the end of the year, or 19% with capitalization every month. Although the second optionoffers less (at first glance) in fact, it is a better option. To verify this, it is enough to use a calculator. In the first case, we get for a thousand rubles the amount of 1200 rubles. Everything is simple here. Capitalization takes time to calculate, so they will be given in an abridged version. So, the first month and for a thousand rubles an amount of 19% is charged. and credited to the account. As a result, the deposit is no longer a thousand rubles, but somewhat more. According to the results of the first month, the account will have 1016.14 rubles. And interest is already accrued on this increased amount. And the end result is 1207.47 rubles. Of course, someone may object that seven rubles is not such a large amount. But this is only one thousand. What if there are a hundred? Or is a whole million being considered? Who will refuse seven thousand rubles?

Typical mistakes

Initially, you need to decide on the goal. Many people think: should I choose a current or a deposit deposit? Therefore, it is necessary to understand their purpose. The deposit is designed to accumulate cash and minimize the impact of inflation by accruing interest.

The current one is different. It is used to accumulate and concentrate funds that can be used at any time. Therefore, it is not provided for the accrual of interest or they are insignificant. An example is credit cards. A common situation is when interest is paid on the funds that are available on them. Moreover, if it is bank money, thenpays a person to a financial institution. When an individual has funds on the card, he is already paid interest for use.

And I also want to go back and re-examine such a typical mistake as focusing exclusively on high percentages. It should be remembered that highlighting against the general background indicates that risky or even prohibited by regulators and legislation operations with depositors' money are being carried out. Therefore, you should approach the choice of a financial institution very carefully. In order not to lose deposits in banks, you should also not exceed the amount that is covered by insurance. At the moment it is 1.4 million rubles.

Selecting a bank and conditions

So, we are interested in opening deposits. In order not to miscalculate, be guided by simple criteria:

1. Participation in the deposit insurance system. The longer the term, the better.
2. The size of the financial institution. The larger the bank one has to deal with, the less likely it is to go bankrupt in the near future. This is to some extent a guarantee of reliability. True, it is difficult to imagine that large institutions will suddenly go bankrupt and, for example, Sberbank deposits will simply disappear.
3. Assets. It is for them that you should first of all be guided by when determining the size. You can find this information on the website of the Bank of Russia. Additional attention can be paid to the number of branches, as well as the geography of their locations. This information should already be sought directly on the website of thecredit institution.
4. Financial reporting. This is suitable for those who want to give small banks a chance. It is necessary to ensure that the reporting complies with liquidity standards. You also need to take an interest in overdue debt (it is desirable that it does not exceed five percent of the amount of loans), as well as the dynamics of its change. Fortunately, all this data is presented on the website of the Central Bank of the Russian Federation.
5. Composition of shareholders. Their list is posted on the website of the bank itself and should not arouse suspicion. If there are international investment funds among them, then this is an indicator of reliability. But at the same time, in the face of ever-increasing sanctions and political instability, this can play a cruel joke. Therefore, you need to carefully weigh the pros and cons before making a decision.

About rate and interest

There are many nuances here. Banking uses fixed, floating and rising/falling rates. It is problematic to say unequivocally which of these options is the best. The easiest to understand is the fixed rate. Floating can be tied to certain events. Increasing/decreasing rate is negotiated at the conclusion of the contract and leads to an increase/decrease in payments.

The amount of money received is positively affected by the possibility of replenishing a bank deposit. So, if inflation slows down, it will be beneficial to invest additional funds. Often they also offer the possibility of early withdrawal, but in such cases significant pen alties are imposed: fromthirds to all accrued interest. We should also not forget about the capitalization of the contribution. Although it is not necessary to rush to the cherished word. To determine the profitability of a particular scheme, it is better to use a calculator. Since the rate of inflation is now insignificant, it is not necessary to claim high interest rates. At the beginning of 2018, there was a situation where, if more than 12% per annum is offered on deposits, then these are most likely scammers. Let's consider, as an example, how much interest is charged by such a rather large commercial structure as UniCredit Bank. This banking institution offers its clients from 4.75% to 8.35% for ruble deposits, depending on the conditions chosen and the agreed period. For foreign currencies, such as the US dollar or the euro, their value does not exceed 3.5 percent per annum.

About programs

Banking institutions are interested in growing their customer base. To do this, they use a wide range of solutions. One of the most popular is the creation of targeted programs. For example, separately for students, pensioners, working people (the so-called salary projects). Opening deposits is accompanied by certain bonuses, for example, an increased interest rate. In addition, additional services may be offered, such as registration of an investment or accumulative life insurance program, registration in a non-state pension fund, and much more, which will allow you to get a loyal client for a long time.

Besides, they canintroduce incentives for the size of the contribution. For example, a person deposited 10 million rubles into an account and received a 0.5% increase. By the way, it is better not to count on mountains of gold. So, at the end of 2017, when placing funds for twelve months, only Loko-Bank offered more than 9% per annum. And then, this rate was available only as part of a special offer and was valid for a limited time. But if we talk about the main financial institutions of the country, then the deposits of Sberbank, VTB and others can offer about 5-7%. Although if you pay attention to a medium-sized bank, you can find an offer of 8%. You should be careful and stick to reasonable limits. And if the reader thinks that this is a stupid warning, then some dry statistics should be given: in mid-2017, there were almost 8 million savers who lost money due to bank failures. The volume of payments for them aspired to the mark of one and a half trillion rubles! This is official data from the Deposit Insurance Agency.

Preparation

When opening deposits in rubles, it is necessary to think not only about interest rates. But in addition to the reliability checks that were mentioned earlier, you should take an interest in the maximum and minimum deposit amount, the possibility of replenishing an account and early withdrawal of money, the procedure for accruing amounts and many other points on which convenience and comfort in interaction depend. Large financial institutions offer, as a rule, several options for investing funds. This creates the illusion of significantchoice, but in practice the yield does not increase significantly. For example, an advertising company is being held to provide deposits at 8%. And in small letters below it is written that this offer is valid for deposits from 300 thousand rubles. And if a person wants to place less, then only 7%. Formally, everything is true, and the requirements of the law on advertising are met. But at the same time, they will offer less than expected. After all, few people can take three hundred thousand rubles for a deposit, right? You should also carefully read the contract. After all, it may turn out that the rate is floating, and the first few months will be attractive, and then it will go down.

And what do banking institutions offer us?

So much information has already been considered, but the most cherished question (how much?) We have not considered. The conditions of deposits in different banks provide for different percentages depending on the chosen cooperation program. Previously, UniCredit Bank was mentioned. What do other structures offer? Take, for example, Promsvyazbank. It offers its investors within the framework of special offers from 6.7% to 8.45%. Not bad? True, but the deposit amount must start from 500 thousand (in some cases from a million).

You can pay attention to Rosselkhozbank, which is 100% owned by the state. It offers replenishable deposits, for which debit transactions are provided. In rubles, he offers from 6.4 to 8.6%.

Home Credit Bank offers to host deposits for up to 36 monthsrate from 7 to 8%. A significant advantage is the payment of interest every month. An additional plus is the small size of the minimum deposit amount, only one thousand rubles.

But the most profitable offer comes from VTB Bank of Moscow. The most profitable deposits from him in rubles allow you to get 10% per annum. True, you can neither replenish nor withdraw them. Yes, and the initial amount of the contribution is at least 30 thousand rubles. If we talk about other offers, they start at a rate of 4.3 percent per annum.

What do the giants offer?

It has just been considered what deposits of individuals are offered in certain institutions of the second league. And what can famous and popular giants offer? Alfa-Bank offers the possibility of concluding contracts for up to three years with a small deposit of 10 thousand rubles. True, the highest income that it provides is to receive an interest rate of 7.43%. And it starts at 6.4%.

Tinkoff operates for up to two years. The rates he offers range from 6.16% to 8%. Early termination is possible, but in such cases the rate is 0.1 percent. Russian Standard Bank offers its depositors from 6.5 to 8.5 percent per annum. The amount of replenishment is from ten thousand rubles. "VTB 24" offers cooperation for up to 5 years. The rate ranges from 4.1 to 7.1 percent per annum.

And the giant of the domestic market of financial institutions - the Savings Bank - closes this brief review. Heoffers a large number of different deposits, which vary both in minimum amounts and terms. In order to open a deposit, it is enough to have an amount of 1000 rubles. It should be noted that Sberbank is more focused on large depositors. That is, the more you deposit, the greater the amount of interest. True, one cannot count on more than 5.63%. But here the reliability factor is relevant. So, although it cannot be said that deposits for pensioners are the most attractive in terms of income, but you can be sure of the safety of your funds.

Conclusion

And once again we need to talk about caution and attentiveness. Yes, this topic has been touched upon more than once, but it is very relevant. Data from the Deposit Insurance Agency about eight million people waiting for compensation for a total of one and a half trillion rubles is a good example of not relaxing. It is necessary to carefully and carefully approach the choice of the financial institution to which the funds will be transferred.

In general, the best option is to constantly improve your own literacy and monitor the situation in selected commercial structures. Indeed, now it is far from the Middle Ages, when it was enough to master a limited stock of knowledge (blacksmithing, pottery, growing agricultural products), and this was enough for a lifetime. If you want to improve your life, you need to understand that for this you need to improve, learn something new,try and act. Only then will there be changes and improvements. It should be remembered that life is under the control of the people themselves. No one will independently solve problems and improve conditions for them. Only we. Deposit today. Tomorrow government bonds. Then invest in stocks or your own business - and the person will be a millionaire! There is a lot of work behind these words, but you should always remember one thing: the road will be mastered by the walking one!