2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Today, perhaps, there is no bank that does not offer deposit programs for the population with monthly interest payments. They differ most often in the amount of the minimum deposit, interest rate and term of the deposit. How to choose the best one? About this in our article.
Basic concepts
Deposits with monthly payments are a term investment. Interest on these deposits is calculated every month. Depending on the terms of the agreement, they can be withdrawn to a separately opened account, cashed out, or attached to the main deposit.
One of the varieties of time deposits are rental deposits. They differ in a rather large amount of the deposit placed in the bank. The amount of monthly payments allows the owner of the deposit to live off the profits.
Rental deposits with monthly interest payments have the following features:
- The profit received is directly proportional to the term of the deposit.
- Standard contract does not provide for replenishment of the deposit and partial withdrawal.
- Lower interest rate than regular term deposits.
Package of documents
Most often, a bank requires a passport and an identification code to make a deposit. Instead, you can provide a passport or military ID. An application is filled out on the spot in the presence of a bank specialist.
Interest calculation
Deposits in banks with a monthly payment is a regular profit. Interest calculated and paid by a banking organization, the client can receive in the form:
- cash;
- by transfer to a specially opened account;
- additional amount to the main investment.
The amount of interest on the deposit will grow in proportion to the period for which the deposit is opened, and the increase in the deposit. That is, for example, funds entrusted to a bank for two to three years will be approximately 3% larger than the same funds, but for a period of three to six months.
Bets
The rates on deposits with monthly interest payments range from 6 to 10%. Depending on the amount of the deposit, the following rates may be offered:
- VTB 24: 6, 45-9, 35%;
- Opening: 9%;
- Sberbank: 6, 15-7, 35%;
- MDM Bank: 9.45%;
- Rosselkhozbank: 9.65%;
- Promsvyazbank: 9.5%.
In addition, there is the so-called interest capitalization. This is "compound" interest. That is, the amounts accrued monthly are added to the main deposit (capitalized), and, consequently, income also increases.from the contribution.
How to calculate monthly profit?
The easiest way to do this is on any site that has an online calculator. It has quite a few features. You can calculate payments for any type of deposit, including those with capitalization, with additional payment and taking into account taxes. Advanced users are advised to calculate the monthly payments on deposits in several banks and choose the best option for themselves.
There are several formulas for calculating interest. One of the most commonly used is the effective interest rate on a deposit. It is used only for deposits with capitalization. Its relevance lies in the fact that unpaid interest increases the body of the deposit, that is, it increases every month and entails an increase in interest and, accordingly, the final income.
N - the number of interest periods during the term of the deposit, T is the term for depositing money in the bank, in months.
The disadvantage of the formula is that it is applicable only in the case of an integer number of months and monthly capitalization. What if the deposit is issued for 100 days, for example. Applying the universal formula:
You can use it for deposits with any frequency of capitalization and non-standard terms for opening a deposit. The formula calculates in annual percentage the ratio of the received profit to the initial investment.
The disadvantage of this formula is that it can be used only after calculationinterest on the deposit.
Early termination of the contract
If the client requires the return of the invested funds before the expiration of the agreement, then interest in this case will be accrued, as for demand deposits, unless otherwise specified in the agreement.
If neither ahead of schedule nor at the end of the term of the deposit agreement with a monthly payment, the client does not apply for a return of the invested money, the agreement is considered automatically prolonged (unless otherwise provided by the agreement).
How to withdraw funds?
To do this, 7-10 days before closing the deposit, you must personally come to the office. You need to have your passport, your copy of the contract and an extract from the current account with you. The action plan is simple. In the presence of a bank specialist, an application for early termination of the contract is written. Then a copy of the completed application is made.
If a deposit in rubles with a monthly interest payment is closed ahead of schedule, then the banking organization has the right to reduce the interest rate for the last 30 days (sometimes to zero).
If the money is withdrawn on the day the deposit expires, then the application is not written, since the entire amount is automatically reserved on the client's account.
When withdrawing an amount of 200,000 rubles or more, you must contact the bank in advance and write an application indicating the amount and denomination of banknotes. The application must be approved and a payment date set.
Today, all the described procedures can be carried out via the Internet on the official website of the bankingorganization and get money into your account without ever showing up at the office.
Closing deposit
Opening a deposit with a monthly payment, the client and the bank agree on its expiration date. After its expiration, the deposit is either closed or automatically prolonged. But what if you need to close the deposit ahead of schedule?
Documents are provided to the office where the deposit was opened: a passport or other identification document, your copy of the agreement and, if available, a passbook. An application is drawn up on the spot, on the basis of which the bank specialist closes the deposit.
Currency deposit is closed according to the same scheme. You can also use an ATM or a terminal, but they must have the Sirius system installed. It is clear even to the most inexperienced user, and the scheme of its action is similar to a similar procedure in online banking.
Insurance
Modern legislation obliges banks to insure all investments up to 700,000 rubles. The return is guaranteed by the state deposit insurance system (in case of bankruptcy of a banking organization).
Is it profitable deposits with monthly interest payments?
Like any banking product, such deposits have their pros and cons. The latter include:
- Almost every contract allows you to add funds to the main deposit.
- After the end of the agreement, it is automatically extended (unless otherwise specified in the agreement).
To the cons of manyrefer to “strange” returns. If we compare two deposits with the same terms and interest rates, but in one they are paid monthly, and in the other at the end of the term, then the latter will be more profitable. Here it is worth considering - when the money is needed more: monthly, but in small amounts, or one-time, but large.
Among user reviews of deposits with a monthly payment, there is often a topic about the complexity of the bank's actions when transferring these interest. Most clients think this is on purpose. In fact, perhaps we are talking about taxation? Often, banking organizations pay taxes on a deposit for their client. It should be noted here that only deposits with a fixed rate of more than 13% are taxed. This number is floating. It depends on the refinancing rate of the Central Bank and is calculated as the sum of the key rate of the Central Bank on the day of the conclusion or extension of the agreement with the bank and 5% of the annual rate.
An undoubted disadvantage is a sharp decrease in the rate when the deposit is closed ahead of schedule.
Bank offers
Favorable deposits with monthly interest payments are available both in large banks with state support and in small ones.
For example, in Otkritie Bank you can open a deposit of 20,000 rubles for a period of 12 months with an interest rate of 9%.
Sberbank limits the amount to a thousand rubles. The term of the deposit varies from three months to three years, and the rate varies from 6.15 to 7.35%.
Bank "MDM" offers to open a deposit in the amount of threethousand rubles for a period of six to twelve months. The bank rate is 9.45%.
A convenient deposit for pensioners with a monthly interest payment is offered by Soyuz Bank. Deposit term from 3 months to a year. The minimum investment amount is 500 rubles. The maximum rate is 8.95%. One of the advantages of this short-term deposit is replenishment. There are also disadvantages. The deposit has no capitalization, it is impossible to withdraw money partially, and there are also restrictions on withdrawals.
A more profitable deposit for pensioners can be made at VTB 24 Bank. There are two options: in person at the office with a passport and a pensioner's certificate, or via the Internet and the Telebank system. The minimum amount of 10,000 rubles is available in the "Target" deposit. It opens for a period of 6 to 36 months at a rate of up to 7.6%. It is allowed to deposit funds in the amount of one ruble. The “Favorable” deposit for the same period, but in the amount of 100,000 rubles, is issued at 7.4%. To add, according to the rules of the deposit, it is possible from 30,000 rubles. The most profitable deposit "Cumulative". 100,000 rubles entrusted to the bank for 90-1100 days will bring profits up to 9.2%.
The benefits of these deposits for pensioners in VTB 24 are many. For example, a guarantee of the safety of funds entrusted to the bank. This organization has state support, moreover, it has proven to be successful and stable. In addition to a wide range of deposits for pensioners, one more huge plus can be distinguished: a power of attorney and a will. That is, for any deposit opened by a pensioner, you can draw up a will, or, if desired, a power of attorney to manage these funds.means. It prescribes all the actions allowed to the trustee. You can use the funds by proxy with your passport and at any time.
Specialists recommend when choosing a banking organization for making a deposit with a monthly interest payment, first of all, pay attention to the reliability of the organization and its place in the rating of Russian banks. It happens that in such banks the interest is slightly lower, but the probability of bankruptcy is almost zero. And, therefore, the contribution will remain, and the profit will be received.
Banks of Moscow: deposits with monthly payments
There are many offers of such deposits in the capital. Here are some of them with a deposit period of at least 180 days:
Moscow Industrial Bank: Spring Traditions seasonal deposit, annual rate 9%.
Loko-Bank: Profitable Strategy, interest rate 10.5%.
Housing Finance Bank: Druzhba-online, rate - 8.8%.
Soyuz: "Double benefit", rate - 8.5%.
UniCredit Bank: For Life, rate 8.2%.
Vostochny Bank: Vostochny, rate 0.08%.
"Binbank": "Monthly income (in rubles)", rate 8%.
Uralsib: Honorary Pensioner, rate 8.05%.
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