Today it is beneficial to keep your savings in a bank. This not only ensures their guaranteed safety, but also allows you to increase capital by a percentage of the deposit. It remains only to choose a reliable bank and take it to their hard-earned money.
First, let's figure out why deposits are generally needed, and how to choose a bank for investments. By transferring our funds to the bank, we allow him to use them, for which he ultimately pays us interest. The conditions for deposits can be found in the branch of any banking institution.
Which bank to choose the most reliable to store savings? To begin with, you should study the rating of banks in terms of customer funds and equity. If the bank takes one of the first places in such a rating, it means that its customers trust this institution, turning to it, you can be sure of the reliability of storing your money.
Which bank to choose for a deposit: state or commercial? The state bank is more reliable, but offers lower interest rates on deposits, commercial banks offer their customers higher interest rates. When choosing a commercial institution for yourself, you should be extremely careful and careful. It is best to give preference to long-established and reputable banks. You must admit that a banking institution that has appeared on the services market quite recently and offers huge interest on deposits looks very suspicious. Greed can lead to the fact that you not only do not make money, but also lose the existing capital.
Thinking about which bank to choose for saving, you should even consider such a nuance as its location. It is best to contact the institution closest to your home. When choosing a bank, ask if it participates in the deposit insurance system . This is very important, because even in the event of a complete collapse of the bank, its insurance fund will be obliged to return the money you have invested.
Having decided which bank to choose to store your money, you should think about the deposit itself. Currently, all consumer deposits are divided into four groups:
- Cumulative
- Savings;
- Estimated;
- Special
The savings deposit is intended for those who decide to accumulate the necessary amount of money for any particular event (wedding, expensive purchase, travel, etc.). When making a deposit, ask your bank employee questions about the minimum amount of additional contributions, what interest is accrued on these contributions, etc.
A savings deposit will save cash savings from rising prices and make additional profits. The peculiarity of this deposit is that the depositor receives interest on it only at the end of its term.
If the amount of the planned deposit is large enough, you can think about investing money in several banks at once. In this case, one should choose a contribution that would allow, if necessary, to switch from one monetary currency to another and not lose profitability. Remember also that investing in a bank in different currencies, you can make good money by changing the exchange rate. For example, you put money in a bank in euros. The euro rose, respectively, increased the return on your deposit. In order to make money in this way, you need to be well versed in the issues of the world economy, to be able to predict a decrease and increase in exchange rates.
Currently, you can find a lot of sources of information about which bank to choose for your deposit, what type of deposit to give preference, for how long to put your savings at the disposal of the bank. When searching for a suitable option, it should also be remembered that some bankers are not averse to profiting from various commissions that are charged for conducting operations on your deposit. Therefore, when transferring funds to the bank, you should carefully read all the signed documents and require clarification of the obscure points specified in them.