All of us at least once thought about how to save money. Given modern inflation, storing money under a pillow or in a piggy bank is not profitable; they simply lose their real value. Some people multiply them on the stock exchange to save their money, but what if you do not have sufficient knowledge or time, but you may need money at any time? For this, there are deposits with the possibility of withdrawal, taking into account the preservation of the minimum balance.
Theory
Most often, there are deposits in banks, the amount of which you cannot withdraw until the withdrawal deadline is right. They are called term deposits. There are also targeted deposits, in them the main requirement for withdrawal is the occurrence of a certain event or the accumulation of a certain amount. However, there are so-called demand deposits, from which you can withdraw amounts regardless of the term. This is very convenient, but at the same time the percentage is reduced, because the bank does not know when you want to withdraw your deposit. For its own insurance, the bank introduces such a concept as a minimum balance. This is the lower threshold for the withdrawal amount, overcoming which you can lose your interest or be subject to other penalties. In rare cases, you may even lose part of your amount.
Features of demand deposits
Most often, such deposits are opened so that the money is not stored at home, because in this case they will be destroyed by inflation or they can be stolen. A depositor can withdraw the entire amount from such an account at his first request, this is prescribed in the civil code of the Russian Federation. It is on such deposits that the minimum minimum balance is most often created. This type of deposit is very popular for current operations, such as receiving a salary or pension, as well as paying interest from another deposit. This type of deposit cannot be called a simple current account, because the interest rate is accrued on it, albeit small. Interest on this deposit is capitalized, that is, added to the principal amount, their payment can be made monthly, annually or quarterly. Keeping money on this deposit for income is useless, but if you may need it in the near future, then this option is perfect for you. For this contribution, the minimum balance is always minimal and most often amounts to the minimum amount of 1 or 10 rubles.
Types of minimum balance
Each bank itself establishes conditions that do not contradict the decisions of the central bank. Most of them establish a minimum balance depending on the initial deposit of the depositor, but the following types can be distinguished:
1) The amount is set. In this case, the bank sets the minimum balance in the form of a specific figure. Sometimes this is the amount of the down payment, but sometimes the bank can set a specific minimum balance, regardless of the initial payment. This can be an impressive figure, such as, for example, the sum of the minimum balance in Sberbank, where it is measured 30 thousand rubles - for some deposits. Also, banks can make this amount purely symbolic, for example, 10 rubles.
2) Set a percentage of the down payment. In this case, the bank stipulates a condition - the withdrawal of not more than a certain part of the down payment. This can be any ratio, in this case, the percentage itself available for withdrawal is determined by the management of the bank.
3) The combined method. In this method, the minimum balance can be set both in percentage terms and in quantitative equivalent. For example, you can withdraw no more than 10 thousand rubles, but not more than 10% of the deposit amount.
Restriction conditions
In addition to the amount of minimum balance, the bank may establish other conditions for restrictions on withdrawal. For example, some banks set a time limiter. This can be either a monthly limit or a customer’s limit, in particular, until a certain age is reached. In some banks, when you remove the minimum amount, you lose all the accumulated interest, in others - only part of the income. However, there are cases when, when withdrawing the amount of the minimum balance, you may also lose part of your funds. It is especially important to pay attention to such points in the contract. In case of urgent demand of money, you may not receive only part of your funds.
Features
It is worth noting the relationship between the minimum balance and interest rate. Very often, if the minimum balance is small, then the interest rate will also be very small. For example, for many banks the “Demand” deposit has a minimum balance of 10 rubles, but the interest rate is calculated at 0.01%. Sometimes a gradation is done, and interest on a minimum balance is calculated depending on the amount of the balance.
It is also worth noting the peculiarity of withdrawing money by cashless receipt. With this replenishment, when withdrawing, you will probably hear about the commission. This is not a violation of the minimum balance and, as a consequence, penalties. According to the law of the Russian Federation, if the funds were received by bank transfer, they must lie for at least 30 days, otherwise the bank will pay.
In foreign currency
In any bank, there are various deposits in foreign currency. If we talk about foreign currency accounts, then most often the conditions are stricter there, and the amount of the minimum balance is higher. Most often, the rule of 30 days does not apply to foreign currency, it can be withdrawn immediately.
Balance for legal entities
Each legal entity, regardless of the form and type of activity, has a bank account. For an individual entrepreneur, this is a voluntary option. For other legal entities, this obligation is enshrined in law. A current account is needed to pay tax fees, as well as various social benefits to employees. Entrepreneurs also have the concept of a minimum balance in the current account. Exactly like individuals, legal entities have small restrictions that are determined by the size of the company, its type of activity, and also turnover. Also individually determined the possibility of a temporary timeout for withdrawal.