The scope of banking services is well developed in Ukraine. It is represented by a large number of different financial institutions. There are both private small organizations and international banking giants on the market.
The financial policy that they pursue in the country is influenced by many factors: market development, customer activity level, economic situation in the country, regulatory policy of the National Bank of Ukraine (NBU) and, of course, the political component.
Next, we will focus on deposit offers made by various banks in Ukraine.
Deposits - a way to save money
Despite the relatively high interest rates that banks offer on deposits, they do not allow real money. The unstable economic situation, which is manifested by rising inflation and the depreciation of the national currency, has a detrimental effect on the savings of ordinary people.
Even a fee of 20% per annum does not allow you to receive real income that would affect the welfare of the client. Therefore, such deposits with Ukrainian banks can most likely be called a way to preserve the value of capital. After all, it allows you to save money from the effects of inflation and other negative economic factors.
Deposits that are available to individuals
As mentioned earlier, banks in Ukraine, the deposits of which will be discussed below, are of various sizes. This also affects their deposit proposals. For example, small financial institutions are interested in attracting as much money as possible and are willing to pay deposits an order of magnitude more than system banks.
Meanwhile, international financial groups enjoy their reputation and reliability by offering their clients low-interest deposits.
Banks of Ukraine, whose deposits are popular, are willing to pay differently for a particular type of deposit. To understand this, we will analyze the types of deposits according to the following criteria:
- urgency;
- the possibility of replenishment or the right to partial withdrawal;
- interest payment method;
- programs for certain categories of citizens;
- individual offers.
Basically, banks offer to open a deposit in one and three currencies: hryvnia, US dollar, euro.
It should be noted right away that for the last two there are much lower interest rates than for deposits in national currency. And often there is a difference between the premium on deposits in hryvnia and other banknotes more than 3 times.
Validity
By term of validity, deposits in Ukrainian banks are divided into urgent and unlimited. The latter are often similar to regular current accounts, but interest is accrued on the cash balance.
Rates on deposits in banks of Ukraine of this kind are quite low and are at the level of 3-7 percent if the account is opened in hryvnia. In foreign currency, such offers are difficult to find, since they are not popular among customers. The main reason for this situation can be called low remuneration for placing money - about 1-2% per annum is offered by banks in Ukraine.
Deposits are also different when withdrawing or replenishing funds. The issue is also with the replenishment of the account.
The bank is more interested in having customers open deposit accounts for a long period without the possibility of withdrawal by placing a large amount of money. In such conditions, he is able to use the money supply in the most profitable way.
This expresses the proposals of financial institutions on such deposits: 18-24% in hryvnia.
Ukrainian banks offer an order of magnitude less benefit to customers who have opened an account with the possibility of replenishment: about 15-18% per annum.
There are no serious differences in the level of accrued interest on deposits with and without capitalization. The ability to increase the body of the deposit, as well as carry out monthly transfers of interest to the card account, is available in almost all types of deposits. So this option can only be considered as a way to make the bank's services more convenient for customers.
Not available to everyone
There are also such deposits, which can be placed only if certain conditions are met. For example, these are pension deposits. They can be issued only if the client comes with a pension certificate.
Similar offers exist for other categories of citizens: sailors, students, etc.
It is impossible to say that such proposals differ significantly from standard ones. But often in such cases, some advantages and bonuses are available. For example, a pensioner wants to place a contribution. He will automatically be offered to open a pension card, on which he will be able to receive both interest on the deposit and pension payments. Since this arrangement is beneficial for banks, they are ready to pay extra. The size of the bonus to the deposit rate can reach 1-2% of the base.
Personal offers
If you are a VIP-client, then you can fully count on individual conditions for deposits. If you need an answer to the question of which deposits in Ukrainian banks are the most profitable, then you should look for it in such proposals.
The urgency of such deposits is much shorter, usually up to 31 calendar days, but the rate is pleasantly pleasing. It can exceed the base by several points.
In Ukraine, the bulk of banks are ready to make such offers to their customers when placing the amount in hryvnia in the equivalent of 20 thousand US dollars and above.
Current situation
To date, you can make the following rating of deposits of banks in Ukraine, based on the current offers of financial institutions for deposits:
“Postal” (Fidobank) - 29%.
“Monthly” (Bank “Trust”) - 26%.
“Urgent Plus” (Privatbank) - 24%.
“Classic express” (Ukrsotsbank) - 20.75%.
“New Year's” (Ukreximbank) - 20.16%.
You can see that small financial institutions offer significantly higher interest on deposits. On the one hand, banks in Ukraine, whose deposits are indicated above, thus attract many customers.
On the other hand, this may indicate a strong shortage of money supply to cover accounts payable. In this case, the bank can operate either at the margin of profitability or at a loss, which is a short road to bankruptcy.