How to put money in a bank at interest: conditions, interest rate, tips for profitable investment

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

Every person who cares about their future has at least once thought about passive income. Someone invests in real estate, someone is interested in owning a business, buying securities, etc. But if there is an initial capital or a desire to accumulate this capital, you can put money in a bank at interest. This method does not take much time, ensures the safety of savings, and brings a stable income.

Should I trust the banks?

After the increasing cases of revocation of banking licenses and the periodic bankruptcy of financial institutions, the idea of putting money in a bank at interest causes distrust among the population. Therefore, first we will understand some of the nuances of financial security.

Today, there is such a thing as a guarantee of deposits. What does it mean? In the event that the bank's license was revoked, its bankruptcy and other troubles, the state guarantees the depositor a refund. The insured amount of the deposit in 2018 is 1.4 million rubles. That is, payments on deposits not exceeding this amount will bebe made immediately. If the amount on the account is greater, the depositor will first receive a refund of 1.4 million rubles. And the rest of the deposit can be received only after the bank property is sold. Please note that deposits opened in dollars or euros are paid out in Russian rubles at the exchange rate of the Central Bank of the Russian Federation on the date when the license was revoked or the bank was declared bankrupt.

What types of accounts are government insured?

These guarantees apply to the following types of deposits:

1. Deposits.
2. Accounts opened "on demand".
3. Accounts linked to bank payment cards (including pension and payroll projects)

Not covered by government insurance

1. Accounts issued in foreign branches of the bank.
2. Metal deposits.
3. Savings books and certificates.
4. Accounts that were opened under the terms of trust management
5. To the bearer.

Do all banks participate in the insurance project?

Most banks in the Russian Federation cooperate with the state insurance agent to protect the financial interests of their depositors. But, unfortunately, not all. The fact is that such cooperation is not a prerequisite for the implementation of banking activities. The board of banks itself decides whether or not to insure the deposits of its clients. As a rule, this is neglected by small financial institutions and banks that have recently entered the market.

How do I know if a bank participates in the deposit insurance system?

Getting this information is pretty easy. This can be done in several ways:

1. Call the hotline.
2. Clarify information directly at the branch of the bank itself.
3. View on the official website of the Central Bank of the Russian Federation in the section "Reference book of credit institutions" (this is the most reliable source of information today).

As you can see, if the bank participates in the insurance system, then you should not be afraid for the safety of funds.

What to look for when choosing a bank deposit

Deposit is a type of deposit that is opened to save money and receive passive income in the form of accrued interest. What should I pay attention to before concluding a contract?

1. Term of the contract. The longer the money is kept in the bank, the higher the income will be.
2. Minimum deposit amount (the amount you need to open an account).
3. The interest rate. It is she who is an indicator of the profitability of the deposit. The higher it is, the better.
4. Terms for calculating interest. They can be attached directly to the principal amount of the deposit, transferred to a separate account or credited on the day the deposit agreement expires.
5. Type of interest income. The deposit rate can be fixed or floating. The fixed interest rate does not change throughout the term of the contract. Unlikefloating. This rate can either increase or decrease. Depending on the situation in the financial market.
6. Terms of early termination of the deposit. Unfortunately, situations in life are different. Therefore, it is very important to provide for the possibility of early termination of the deposit agreement: when and how it can be done, what are the conditions, are there any pen alties, etc.

Account opening procedure

Now that the decision to open a deposit has been made, the bank has been chosen, let's talk about how to deposit money in a bank at interest and what is the procedure for opening an account. It is more convenient to open a deposit account in a bank office that is closer to home. So that you don’t have to spend a lot of time on the road to solve certain issues.

Today, there are two ways to deposit money in a bank at interest: by contacting a bank office and via the Internet.

To open an account at a branch, you need to have a passport with you (required the original) and the funds that you are going to deposit into the account. The specialist will additionally advise on the terms of the deposit of interest, draw up an agreement and deposit money into the account.

In order to open an account via the Internet, most often you need to be a client of this bank and use the Internet Banking system or a mobile application. In the system, you need to select the type of deposit you are interested in, fill in the personal data and use a bank card to deposit the amount into the account.

Unfortunately, not all banks can offer the possibility of registering an account remotely. But every day this waybecoming more and more popular.

Overview of banks. Where to put money, at interest?

This question is asked by many future investors. Someone would like to be able to deposit money in a Swiss bank at interest. But, unfortunately, not everyone has such an opportunity. Firstly, Switzerland is far away, and secondly, it is difficult to do this without knowing the laws of a foreign country. So let's not make life difficult for ourselves. Let's talk about which bank to put money at a high interest rate in your homeland.

For example, VTB, Sberbank, Post-Bank offer their depositors attractive deposit conditions. Let's take a closer look at them.

VTB Bank

Let's start with the fact that deposits in VTB Bank are insured. Therefore, investors can not worry about the safety of their savings. Let's talk about the products that are offered to customers.

Today there are 4 types of deposits: "Maximum", "Profitable", "Replenished" and "Comfortable". All these products differ in conditions: shelf life, interest rate, replenishment conditions, etc. The initial payment for opening a deposit varies from 30 to 100 thousand rubles.

A brief overview of VTB Bank's deposit products

Let's start the review with the "Comfortable" tab

Term of the contract: 181 - 1830 calendar days.

Interest rate: up to 3.61%.

Minimum deposit amount: RUB 30,000 / USD 3,000 / EUR 3,000.

This product has the lowest interest rate of the entire line of deposits. But at the same time, the mostloyal terms. This deposit can be replenished, withdraw money (up to the amount of the minimum balance) at any convenient time. In addition, it is more convenient to open this type of deposit via the Internet, since the minimum amount for opening an account is 30,000 rubles. When contacting a bank office, the minimum amount increases to 100,000 rubles. This product is suitable for those who do not want to store large sums of money at home. Loyal deposit conditions allow you to use money if necessary. It is also possible to terminate the contract early. But interest will be paid at the Demand rate.

The disadvantages of the product include low interest rates for foreign currency accounts (0.8% - in dollars and 0.01% - in euros). This type of deposit is more suitable for the national currency.

Deposit "Replenished"

Term of the contract: 91 - 1830 calendar days.

Interest rate: up to 5.61%.

Minimum deposit amount: RUB 30,000 / USD 500 / EUR 500.

This deposit provides for replenishment, but according to the agreement it is not possible to make debit transactions. The minimum replenishment amount is 15,000 rubles. In case of early termination of the agreement, interest is recalculated at the minimum rate of "On Demand" deposits.

A few words must be said about interest payments: they can either be added to the main deposit or credited to a separate account. At the request of the deposit owner.

This product is suitable for those who need to save money. For example, it is a good tool forin order to raise funds for an apartment or other large purchase.

Deposit "Favorable"

Term of the contract: 91 - 1830 calendar days.

Interest rate: up to 6.48%.

Minimum deposit amount: RUB 30,000 / USD 500 / EUR 500.

This deposit does not provide for any replenishment or debit transactions during the entire term of the contract. The product is suitable for storing money. In case of early termination of the contract, preferential terms apply.

Contribution "Maximum"

Term of contract: 120 days.

Interest rate: 6.45%.

Minimum deposit amount: 50,000 rubles.

This is a short-term deposit that does not involve any additional account transactions. It can only be opened in Russian rubles. Interest is automatically added to the deposit amount.

If you decide to deposit money at interest in VTB Bank, carefully read all the terms of deposits. In addition, some deposits are more profitable to open via the Internet.

Sberbank

Putting money at interest in Sberbank will also not be difficult. Unlike VTB Bank, a wider range of social deposits is presented here: for pensioners, charitable deposits, etc. Therefore, before opening something, carefully read the terms of the agreement.

The most popular deposit instruments of Sberbank are "Replenish" and "Manage" deposits. These are very convenient tools for accumulating money. While the "Save" deposit is suitable only for storing large amounts of money.

Deposit "Replenish"

Term of the contract: up to three years.

Interest rate: up to 3.80%.

Minimum deposit amount: from 1,000 rubles / 100 dollars.

This contribution provides for the possibility of additional contributions. Debit transactions are prohibited. The interest rate will depend on the amount in the account and the term of the deposit. The exception is pensioners. Their accounts have a maximum interest rate, regardless of the amount.

Contribution "Manage"

Term of the contract: up to three years.

Interest rate: up to 3.8%.

Minimum deposit amount: 30,000 rubles.

This deposit, like the "Comfortable" deposit of VTB Bank, provides for both incoming and outgoing transactions. It is a convenient investment for life. In addition, it can be opened via the Internet using the application, or on the official website of Sberbank).

Putting money at interest in the bank in this case is not difficult. But in order not to get confused in numerous products, it is better to do it directly in the office.

How to put money at interest in Post Bank

Post Bank offers its customers a small line of short-term deposits up to 18 months with a high interest rate and loyal storage conditions. In addition, by opening an account remotely, the client can count on increasedinterest on your deposit.

Deposit "Cumulative"

Term of contract: 1 year.

Interest rate: up to 6.15%.

Minimum deposit amount: 5000 rubles.

The deposit, like similar products of other banks, is suitable for accumulating funds. It has optimal shelf life. In case of early termination of the contract, interest income is retained. If necessary, money can be withdrawn at any time. Interest income on the deposit is calculated quarterly.

Deposit "Profitable"

Term of contract: 1 year.

Interest rate: 6.35%.

Minimum deposit amount: 500,000 rubles.

This deposit is suitable for storing large sums of money. Account replenishment is possible in the first 7 days after opening. There are no expenditure transactions. Early termination of the contract is possible, but the interest rate will be reduced to 0.1% per annum.

Conclusion

Which bank is better to put money at interest, everyone must decide for himself. In the light of historical events, this issue has become topical for millions of Russians. Therefore, the choice should be based not only on advertising that is shown on television, but also on obvious facts. The bank must have a clean reputation. All conditions for banking products should be available to the client, transparent. In addition, before concluding an agreement, the bank employee once again explains the terms.

Remember, if you approach the issue of passive income and saving finances from all overstrictness and responsibility, then the decision to profitably put money in a bank at interest can help not only save money for a dream, but also bring a tangible monthly income.