Those who want to become customers of the bank often come across many new terms and definitions, for example, that this is a savings account, what conditions must be met to open it, what documents are needed? It is worthwhile to study the information in detail, so that later you do not have to open another account for the needs of the client.
What it is?
First you need to know the definition of this account, and only then open it. Depending on the purpose of registration, the bank is ready to offer various banking products: to receive increased interest or for settlements. So, a savings account is an opportunity not only to save own funds, but also to receive a small dividend from a financial organization. It is suitable for those who want to be able to freely dispose of their funds, since the conditions of its service allow you to make income-bearing operations at any convenient time.
In most cases, it is used as a transit account, where you can transfer a large amount of money (for example, a loan). It replaced the well-known "universal" account, which had certain restrictions and an interest rate of 0.01 per annum.
Conditions for registration by citizens
Any individual over 14 years old can open a savings account with Sberbank (a passport is required to conduct a banking operation). If you need to open an account in the name of a minor child who has not yet reached this age, then his parent or guardian can do this. Another important condition is the presence of permanent or temporary registration in Russia.
If the account is opened by a foreign citizen, then he must have a passport of a foreign state with him, as well as a temporary residence permit or residence permit. Age restrictions are equivalent to those put forward to Russian citizens. As a client of Sberbank, namely, a holder of a plastic card (which provides access to the personal account of Sberbank Online), you can open an account remotely. In other cases, you will need to contact the nearest bank branch.
Interest rates, currency, terms
According to the conditions, the savings account is unlimited, current interest rates are quite symbolic. This is due to the fact that it is not a deposit and is not intended to receive maximum income in the form of accrued interest. For this, the bank proposes to open a certain deposit, which will allow you to get a much larger additional income in the form of accrued interest. In this case, interest on a savings account should be considered as one of the advantages that allows you to make payments, make transfers and at the same time receive a small additional income from the bank.
Sberbank offers to open an account in several currencies: rubles, euros, pounds sterling, as well as Canadian, American, Singaporean and Hong Kong dollars, Chinese yuan. The highest interest rate is provided for in the ruble account (from 1% to 1.8%, depending on the balance on the day of interest calculation), in foreign currency rates look less attractive (0.01% regardless of the amount).
Interest calculation conditions
The savings account accrues interest on a monthly basis. The interest rate is annual, that is, if 1% is provided, then the interest amount still needs to be divided by 12. According to the tariff, capitalization is provided for the account, which means that if there is a balance, the bank will accrue interest, while maintaining a positive balance , next month interest will be charged on the entire amount (including interest that the bank has already accrued in the previous month).
It is noteworthy that according to the tariffs of the savings account, the minimum balance may be zero. It is convenient if necessary to withdraw or transfer the entire amount. Previously, the bank opened only a “universal” account, which provided for the need to leave 10 rubles in balance. This was inconvenient in those cases when it was written off to repay the loan. Some clients found themselves in debtors and the amount of the minimum balance was often carried out in arrears.
Reason for closing an account
At the first request of the client, the bank closes the account and issues (if any) the remaining amount of money. This procedure is also available remotely through Sberbank Online. If the client has a savings account, but does not know how to withdraw a large amount from it, then it is advisable to contact the bank branch. Most likely, for this you will need to fill out an application so that the required cash is available at the office on the day of the call. If the account is opened in another region, and there is no Sberbank bank card, it is possible to transfer between your accounts subject to the further closure of the savings account, and then the amount will be credited without commission. The only thing is that you need to wait until the request is processed and the funds arrive in the account.
Benefits of opening an account
The undoubted advantage of a savings account is its versatility and accessibility. There is no need to leave a certain amount so that the account does not close, you can get a small but significant percentage from the bank. If you have a credit card, all operations (including closing an account) are available through remote service channels. According to the savings account, there is no need to carry an agreement or any other documents confirming that the client is its owner. This condition is applicable in cases when the client contacts the bank office of the region in which he was opened or if the Green Street conditions apply.
Large selection of currencies in which opening and subsequent banking operations are available. This will be appreciated by those who often face the need to travel abroad or make purchases in online stores, transferring funds to relatives living in other countries.
Cons Savings Account
If you touch on the cons of a savings account - this is a small percentage of the balance. It would seem that it refers to the pluses, but each client wants to receive increased income, even on a simple account. There is another point that confuses many “experienced” Sberbank customers - the lack of a passbook issued. Most people think that if there is no documentary evidence that the bank has an account, then it is easy to lose it or others can use it. But, these experiences are in vain. To contact the department in order to obtain information on the account, conduct expenditure operations, a passport is required. Therefore, another person cannot use the account, even if it finds out its number. All that is available to third parties without a power of attorney is the deposit of funds.