In the financial sector, there are many opportunities for investing your own funds. Each bank offers its own programs. Not so long ago a new opportunity appeared - deposits in RMB. The Chinese currency used to be “closed” because it was under the protection of Beijing. But now everyone can invest in RMB.
Banks offer different programs that have their own conditions. Although RMB accounts are not very popular in Russia, many organizations still offer their design. According to experts, such deposits can be profitable if you know some subtleties.
Features of deposits
Are yuan deposits profitable? Experts believe that such investments are considered a successful diversification move. There are several factors due to which you can safely open an account in the currency of China:
- RMB rate is unlikely to decline, quotes confirm this;
- the yuan is likely to grow;
- Chinese currency is considered an excellent way to diversify investments.
Experts believe that the chances of falling for this currency are low. The reason for this is the underestimation of the renminbi. China has long supported export growth. Perhaps in the future it will grow, which will positively affect the country's economy. In China, the production of many states is developing.
Experts believe that given the purchasing power of the United States and China, the latter may be ahead of America a few years later. Deposits in RMB are considered a win-win option. Keeping money in this currency is profitable. The risk associated with deposits in RMB is that the asset may not change for some time.
The risks
Yuan is the new currency for investment, so there are some risks. These include the omission of other, profitable investment opportunities. Although China's economy is developing, the renminbi will not grow in the near future. There is a risk that Beijing will prohibit converting its currency into dollars in the future, but this is unlikely.
In order not to lose money, you should weigh the advantages and disadvantages of the currency. It is also necessary to choose an organization and a suitable program, thanks to which investment will be profitable. Based on this, the client will be able to decide whether to store money in RMB.
Bank Offers
In Russia, the Chinese currency in banks has only just begun to be used. Not all organizations open deposits in RMB. Only some institutions are ready to offer such programs. These include:
- CJSC "BBR Bank";
- Bank Zenit OJSC;
- OJSC "Interregional Commercial Bank for the Development of Communications and Informatics";
- CJSC JSCB Gazbank.
The stakes are not as high as customers would like. They are from 0.05 to 2.75%. But keep in mind that there is a chance of making a profit on the exchange rate difference. And the exchange rate against the ruble as of February 27, 2017 is 8.36.
Sberbank offer
According to economists, cooperation between Russia and China will develop. Therefore, deposits in RMB at Sberbank will be a necessity. Making them out, you do not have to worry about conversion at a disadvantageous rate. You need to open an account for those citizens who use both currencies.
Sberbank does not draw up savings accounts in RMB. You can only open a simple account used for payments and transfers. Deposits are divided into “universal” and “demand”. Each program has its own characteristics.
Deposit Terms
RMB deposits for individuals open for up to 5 years, but they can be extended. The rate on the account is 0.1%. Opening a deposit requires $ 5.
The client can deposit funds and withdraw them. But the minimum should always be on the account. The “demand deposit” deposit is opened with similar conditions, only it is unlimited, therefore it can be used constantly.
What is needed?
To open a deposit, you must provide the documents:
- passport;
- statement;
- profile.
With the opening of an account, an agreement is signed, after which the money is credited. To open a deposit, the client must have Chinese currency. But here everything is simple - you just need to replenish the account in rubles, which will be converted into RMB.
Should I buy currency for investment?
Although China's economy has become developed, the currency is still weak to be considered global. According to experts, the yuan will not be in demand in the near future, but in the future. Therefore, it is more profitable to put funds for a long period, which will be justified. But for short-term investments, it is better not to open deposits.
Chinese bank account
To open an account with a Chinese bank, you need a mobile phone, passport and 15 yuan. You will also need to draw up 2 documents. The first includes passport data and a phone number, as well as the type of activity. The second document includes passport details. They must be signed.
Then, the customer deposits 15 yuan and receives a card that is valid for 10 years. This banking product allows you to work with online banks in China. The activation procedure is not needed.
Profitable deposits
Yuan is considered an exotic currency in Russia. At VTB 24, Zenit Bank, Promsvyazbank, you can open deposits with a rate of 2-3%. It is better to open accounts for the long term, so that there is a prospect of receiving benefits.
Thus, deposits in Chinese currency are beneficial if they are opened for the long term. Before issuing an account, you need to familiarize yourself with the programs of several banks, and then select the appropriate conditions. A careful approach in this case ensures further receipt of a good income.