Whether we like it or not, banking services have surrounded everyone. Calculations, payments, salary payments, transfers and much more are now carried out by banking institutions.
But at the same time, each bank is primarily associated with completely different financial products. Deposits and loans are those banking services that are widespread and in demand. Each of us at least once in his life thought about opening his own savings account or buying goods on credit.
If you have a tidy sum of money and want it not just to lie at home under your pillow, but to bring you any income, then sooner or later you will think about how to do it.
Also, if you have a low income level, you cannot save on some expensive purchase, you will think about how to collect the necessary amount of money.
Banks will help save money
The solution for both the first and second cases may be various bank deposits.
After the global financial crisis, many do not trust banks, believing that they will be cheated. And this is not surprising - indeed at that time there were massive cases of bankruptcy of financial institutions, non-repayment of deposits and other unpleasant events that limited or violated the rights of clients.
Deposits are safer
Since then, bank deposits have become much safer. At the legislative level, the requirements and control of the Central Bank for banking institutions have greatly intensified. In addition, constant monitoring of the provision of cash with all loans issued by banks is carried out so that there is no such situation as was observed at the time of the crisis when loans were not repaid and, accordingly, there were no funds to pay deposits according to customers' requirements.
You won’t be able to earn on the deposit
It is worth immediately dispelling the myth that bank deposits will allow their owners to earn good money. The current interest rates on deposits are not at that level to really help make money on their money. This is possible only if the deposit amount is really large - but this option is far from suitable for everyone, even those with an average income rarely have the opportunity to accumulate a sufficient amount of cash.
In modern conditions, bank deposits are, rather, a way to keep accumulated money in a safe place, as well as a good way to cope with the depreciation of capital due to inflation. You should not hope for more.
Types of Deposits
Deposits in banks are presented in a wide range of different types. In each bank, deposits are named in their own way, but according to the basic principles, they can all be combined into 5–6 types.
There are both offers for legal entities and deposits of individuals. The requirements for enterprises and companies are higher, and interest rates are an order of magnitude lower due to the fact that the placed amounts very often exceed the mark of 1 million rubles, and the term of such deposits is basically no more than 3 months.
Term bank deposits, the interest on which is the highest among all other types, are the most popular. Such attention from customers is not surprising, because everyone wants to get the highest possible income. Sometimes high percentages can turn your head, and a person loses vigilance.
When planning what bank to place your deposit with, do not forget that there are institutions that can become bankrupt tomorrow. Typically, financial institutions, in which things are not going well, lure customers with high interest rates on deposits, which are several levels different from average market offers. Choosing the best option for placing your funds, ask what kind of loan offers the bank has.
High interest rates on deposits may indicate a poor financial situation.
For example, if an institution offers deposits of 30% per annum and at the same time, under the terms of credit programs, it takes 35% as a commission, then there is reason to think. After all, these 5% are actually the income of the bank. The smaller the gap, the less the bank earns, and therefore the likelihood of its financial stability is less.
You should not react to high percentages as the cartoon character Roquefort from the cartoon "Chip and Dale", who, having felt the smell of cheese, threw all his business and literally flew to its source.
Compare different offers in the market, find the average and try to understand for yourself why one bank offers 20% and another - 30%. For example, you can focus on deposits on deposits of Sberbank, which offers about 10% per annum.
Fixed-term deposits with banks can be either with the right to replenish, or without such an opportunity.
Basically, deposits without the right to replenish are designed for the presence of a large amount of money from the client in order to deposit it once into the account and enjoy monthly or one-time interest payments. Recently, it has become a standard condition for opening a card account to which the bank pays interest, which is beneficial for the bank and convenient for the owner of a deposit account if the cost of servicing such a card is zero or very low compared to the paid deposit interest.
Can pick up on a dream
Deposits that can be replenished are popular with those customers who cannot immediately allocate a large unclaimed amount of funds from their budget. This can be explained by the fact that they literally help pick up on some kind of expensive purchase, a tourist permit or something else expensive. Agree that you can save up to 100-500 rubles every month, refusing extra coffee, chewing gums, taxi rides. At the same time, putting it aside during the year, you can collect the amount that is pleasant to spend in the store.
Perfect for those who have long wanted to go on a trip, but still could not put it off. With this type of contribution, it becomes possible for people with almost any income level to realize such plans.
Deposits may be in different currencies
It should be noted that deposits can be placed not only in national currency. Deposits in rubles often have the highest interest rates, since it is more profitable for banks to work with the monetary unit of the Russian Federation by issuing loans in it.
Interest rates on deposits in US dollars and euros are significantly lower than those that are open in Russian rubles. It is more profitable for banks to buy currency from the Central Bank, then selling it at their exchange offices.
Bank Tips
If we take into account the fact that the interest rates on deposit agreements of the same type in different banks are approximately the same, the most important question remains regarding the guarantee of a refund.
And the state can not always affect the bank. The most important protective barrier against fraud is the person himself. Do not trust your funds to those financial institutions that are not at the hearing. Banks that are a year or two, too, should not be particularly trusted. During this period it is difficult to understand whether they are pursuing a successful policy or will soon “burst”, some time should pass. In this matter, do not rush.
There are deposit insurance services that you can use if you want to protect your funds.
If you want to achieve almost 100% confidence that you will return the money back, then simply divide the money that you wanted to deposit on one bank into several parts and open deposit accounts for smaller amounts, but in several banks. This decision guarantees you a refund of your funds, even if one bank goes bankrupt.
And remember that offers that are very different from the average market conditions in the tempting direction are mainly the last breath or gambling of a bank, and investing your money in it is extremely unsafe.