Bank deposits. Bank deposits of individuals

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

Whether we like it or not, banking services have surrounded everyone. Settlements, payments, salary payments, transfers and much more are now carried out by banking institutions.

But at the same time, everyone first of all associates banks with completely different financial products. Deposits and loans are those banking services that are widespread and in demand. Each of us at least once in our lives thought about opening our savings account or buying goods on credit.

If you have a tidy sum of money and want it not just to lie at home under your pillow, but to bring you some kind of income, then sooner or later you will think about how to do it.

Also, if you have a low income, you can not save on some expensive purchase, you will think about how to collect the necessary amount of money.

Banks help save money

The solution for both the first and second cases can be different bank deposits.

After the global financial crisis, many do not trust banks, believing that they will be deceived. And inthis is not surprising - indeed, at that time there were massive cases of bankruptcy of financial institutions, non-repayment of deposits and other unpleasant events that limited or violated the rights of customers.

Deposits just got safer

Since then, bank deposits have become much safer. At the legislative level, the requirements and control of the Central Bank to banking institutions have become much stronger. In addition, a constant monitoring of the provision of funds for all loans issued by banks is carried out, so that there is no such situation as was observed at the time of the crisis, when loans were not returned and, accordingly, there were no funds to pay deposits at the request of customers.

It will not be possible to earn on the deposit

It is worth immediately dispelling the myth that bank deposits will make good money for their owners. The current interest rates on deposits are not at the level to really help you make money on your money. This is possible only if the deposit amount is really large - but this option is far from suitable for everyone, even those who have an average income rarely have the opportunity to save up enough money.

In today's environment, bank deposits are more of a way to keep the accumulated money in a safe place, as well as a good way to cope with the depreciation of capital due to inflation. Don't hope for more.

Types of deposits

Deposits in banks are presented in a wide rangedifferent kinds. In each bank, deposits are called differently, but according to the basic principles, they can all be combined into 5-6 types.

There are both offers for legal entities and deposits of individuals. The requirements for enterprises and companies are higher, and interest rates are an order of magnitude lower, due to the fact that the amounts placed very often exceed the mark of 1 million rubles, and the term of such deposits is generally no more than 3 months.

Term bank deposits, which have the highest interest rates among all other types, are the most popular. Such attention from customers is not surprising, because everyone wants to get as much income as possible. Sometimes high interest rates can turn one's head, and a person loses his vigilance.

When planning which bank to place your deposit in, do not forget that there are institutions that may become bankrupt tomorrow. Typically, financial institutions that are not doing very well lure customers with high interest rates on deposits, which differ by several levels from the average market offers. When choosing the best option for investing your funds, ask what loan offers the bank has.

High interest rates on a deposit may indicate a poor financial situation

For example, if an institution offers 30% per annum on deposits and at the same time, under the terms of loan programs, takes 35% as a commission, then there is reason to think. After all, these 5% is actually the bank's income. The smaller this gap, the smallerthe bank earns, and therefore the probability of its financial stability is less.

You shouldn't react to high interest rates like the cartoon character Roquefort from the Chip and Dale cartoon, who, smelling the smell of cheese, quit everything and literally flew to its source.

Compare different offers on the market, find the average and try to understand for yourself why one bank offers 20% and the other 30%. For example, you can focus on deposits on deposits of Sberbank, which offers about 10% per annum.

Term deposits in banks can be both with the right to replenish, and without such an opportunity.

Basically, deposits without the right to replenish are designed for the client to have a large amount of money in order to put it into the account once and enjoy a monthly or one-time interest payment. Recently, it has become a standard condition to open a card account to which the bank pays interest, which is beneficial for the bank and convenient for the owner of the deposit account, if the cost of servicing such a card is zero or very small compared to the deposit reward paid.

You can collect for a dream

Deposits that can be replenished are popular with those clients who cannot immediately allocate a large unclaimed amount of funds from their budget. This can be explained by the fact that they literally help to collect for some expensive purchase, a tourist package or something else expensive. Agree that 100-500 rubles can be postponedmonthly, giving up excess coffee, chewing gum, taxi rides. At the same time, by putting it off for a year, you can collect an amount that is pleasant to spend in the store.

Perfect for those who have long wanted to go on a trip, but still couldn't put it off. With this type of deposits, it becomes possible for people with almost any income level to implement such plans.

Deposits can be in different currencies

It should also be noted that deposits can be placed not only in national currency. Often deposits in rubles have the highest interest rates, since it is more profitable for banks to work with the monetary unit of the Russian Federation, issuing loans in it.

Interest rates on deposits in US dollars and euros are much lower than those opened in Russian rubles. It is more profitable for banks to buy currency from the Central Bank, then selling it at their exchange offices.

Advice on choosing a bank

Given the fact that interest rates on deposit agreements of the same type in different banks are approximately the same, the most important question remains about guaranteeing the return of funds.

And the state can not always influence the bank. The most important protective barrier against fraud is the person himself. Do not trust your funds to those financial institutions that are not well known. Banks that are a year or two should not be particularly trusted either. During this period it is difficult to understand whether they are pursuing a successful policy or will “burst” soon, some time must pass. In thisthe question should not be in a hurry.

There are deposit insurance services that you can use if you want to secure your funds.

If you want to achieve almost 100% certainty that you will return the money back, then simply divide the money that you wanted to deposit in one bank into several parts and open deposit accounts for smaller amounts, but in several banks. This solution guarantees you the return of your funds, even if one bank fails.

And remember that offers that are very different from the average market conditions in a tempting way are basically the last gasp or gambling of any bank, and it is extremely unsafe to invest in it.