In modern banks, customers are offered various services. One of them is term deposits. This allows customers to earn income through personal funds. Often money is invested for 1-2 months, after which it can be taken along with profit. According to reviews, this type of banking service is very profitable. Read more about the service in the article.
The concept
A term deposit is a client’s funds transferred to a bank deposit account at a specific time. After that, the money will be returned to the depositor with interest. Terms can be different: from 15 days to 3-5 years. But often people choose from 3 months to 1-2 years. This type of service allows you to receive income from personal free funds.
The currency of the term deposit is the ruble, as well as the euro and the dollar. You can choose any of them. Interest is usually accrued at maturity, with closing. But some banks offer to place funds with capitalization of interest - daily and monthly. A difference in a fixed deposit is a certain return date. With an unlimited deposit, money is placed from 1 day to infinity. As can be seen from the reviews, many people use fixed-term deposits, making good profits.
Features
The contract rate established at the time of signing cannot be reduced. The condition exists during the entire period of validity of the document on term deposits. This is a customer right. The features of the contribution include:
- Urgent character. This nuance distinguishes investments on demand and urgent. The storage time of the temporary deposit is indicated in the contract. The long term of the agreement and large amounts ensure high interest rates.
- Early termination of the agreement. If the client wishes to terminate relations with a banking institution before the planned date, interest is paid at the rate of demand accounts.
- Replenishment. Some banks cannot replenish temporary deposits, which is indicated in the agreement, while others open replenished time deposits. The document indicates the minimum amount of contributions and its frequency.
- Partial withdrawal. In some institutions, you can partially withdraw money from the term deposit account. And in others this can be prohibited, otherwise a fine is imposed or the percentage is reduced to a minimum.
- The extension of the fixed-term agreement also implies an increase / decrease in the rate, extension of the previous conditions.
According to reviews, this type of service is in demand due to favorable conditions. It is only necessary to choose a bank with the most acceptable program in order to make a profit.
Bets
The urgency of deposits allows banks to plan their personal income and know exactly how long the funds can become involved in circulation. These factors determine the rates on term deposits. They can be fixed or floating. If the agreement does not establish a specific method of calculating interest, then the formula for ordinary interest at a fixed rate is applied.
Capitalization of interest is considered beneficial when accrued interest is attached to fixed assets, thereby increasing the amount of income. Then interest on term deposits is calculated not only on the initial amount, but also on accrued interest. According to reviews, rates may vary in banks.
Kinds
Fixed-term deposits with the bank in currency are divided into the following varieties:
- Currency - dollar / euro, rarely - yuan, pounds sterling, francs, yen.
- Multicurrency - a deposit that includes several types of currencies. This provides the ability to convert money into an account. This contribution will be profitable during an unstable economy, since the risks of price spikes are minimized.
- Deposits in rubles are more profitable than debit in foreign currency.
By term, deposits are divided into short-term (2-3 months) and long-term (2-5 years). If you place money for a period of 2 years, then a large profit will be paid. Deposits for too short periods are issued at minimum interest.
Where can I go?
As the reviews confirm, you need to contact the institution that offers the most favorable conditions. Only then can you get high income from investing your money. You can open a term deposit or deposit in the following banks:
- "Orient Express Bank". The institution offers to issue a Christmas contribution for 1 month. The minimum amount is 30 thousand rubles. The replenishment is not expected under this program, but there is a capitalization of interest of 20.1%.
- Svyaz-Bank. With the help of the “Maximum income” deposit, you can invest at 18.5%. But you should make from 1 million rubles for 3 months.
- "UniCredit Bank". The organization offers a Click Deposit program at 18.25%. Interest is paid at the end of the term. An agreement is drawn up for 1-3 months. The minimum amount is 15 thousand rubles.
- Promsvyazbank. A generous interest deposit is offered at this bank. The rate is 18%. The depositor must deposit from 10 thousand rubles for 1-3 years.
- "Absolut Bank". The Absolute Maximum program accrues 17.5% if it is invested from 1 million rubles for 9-12 months.
- "Credit Bank of Moscow". Thanks to the Savings + deposit, you can make a profit of 17.5%. It is necessary to deposit from 1 thousand rubles for 6 months or more.
Considering reviews, large term deposits are the most profitable. You just need to choose the most acceptable offer among banks, so that after a while you get a big profit.
If you want to open a deposit in foreign currency, then Globex-Bank offers an income of 7% for savings in dollars. In the "Moscow Industrial Bank" under the program "Frost and Sun" is 6.5%. Only have to make 1 thousand dollars for 1-3 months. Vozrozhdenie-Bank operates under the Profitable Online program, which accepts from 50 thousand dollars at 6.3% of 1 year.
Many other banks also have the opportunity to issue a term deposit. According to reviews, you should carefully read the conditions for opening a deposit before making a deposit. This type of service provides an opportunity to profitably invest free money.
Sberbank of Russia
You can open a deposit in other institutions. A term deposit is in effect at Sberbank of Russia. The organization proposes to issue:
- Save and Save Online. This program allows you to save money and make a profit during storage. If you make a deposit through Internet banking, then an increased rate is provided. The rate is between 4.05-5.6%. An agreement is drawn up for a period of 1 month to 3 years. You need to deposit from 1000 rubles.
- Manage and Manage Online. The rate is 3.25-4.82% for online and 3-4.32% for registration at the bank office. You need to open a deposit for a period of 3 months to 3 years, while there is the possibility of extension. The deposit can be replenished by different amounts.
According to reviews, many make deposits with Sberbank. The institution pays profit according to the rules specified in the contract.
How to open?
To make a deposit, you must contact the bank with a passport. The deposit is confirmed with a passbook, certificate or contract. Now the practice of applying a contract is widespread in banks, which confirms the relationship between the institution and the client.
In the document, the parties indicate the currency, profitability, amount and term. The contract must contain the date of execution and information about the client. Financial organizations refuse to save books. But investors should be aware that documents that are not registered and without identification as a representative of the person are prohibited by law.
Thanks to modern technologies, customers can make deposits online, at ATMs, cash desks, and self-service points. Banks are introducing remote use of products, so online deposit rates are higher than usual. According to reviews, it is not difficult to make a deposit, the main thing is that the conditions are acceptable.
Recommendations
There are several tips that should be considered if you want to draw up a term deposit:
- To reduce the risk of loss of interest with early termination of the contract, attention must be paid to the conditions indicated in the document. Some banks approve fines in such cases. Amounts may be insignificant, and may amount to 100% of the amount of accrued interest.
- It is not beneficial to withdraw funds ahead of schedule. If it is likely that funds may be needed during the term of the agreement, then programs with partial withdrawals should be selected. Then there will be no fines
- The law obliges banks to provide savings based on the requirements of the parties to the contract. If they are held, it is considered illegal.
- Some financial institutions charge a fee for providing a cash deposit, which was transferred by bank transfer. This nuance should be negotiated with customers.
- Banks set a minimum down payment for making a deposit. The larger the bet, the greater the amount required. If the deposit amount is small, it is advisable to choose a deposit with a replenishment and a floating rate, or arrange a short-term deposit with a small contribution. Then you can reissue the contract with favorable conditions.
- Interest is desirable to capitalize. Then customers are available profitable deposits.
Total
Thus, registration of term deposits will be profitable, especially if there is a large amount. If you choose a program with attractive conditions, you can expect to get high profits.