The time has passed when the money was stored in savings books. Today, many banks offer users modern services. They allow you to conveniently accumulate savings, which accrue interest, as well as spend money as needed.
An urgent savings account is considered to be a bank deposit used by a client to store personal savings. It allows its owner to freely dispose and operate its own funds. In addition, such an account provides good opportunities for obtaining interest income on an existing deposit.
Opening of this financial instrument
To open a savings account, a lot of time is not required. Moreover, this can be done not only by residents of the Russian Federation, but also by foreign citizens. The minimum amount that must be paid as a down payment is not limited by any limits, therefore such a deposit is very convenient for any categories of legal entities and individuals.
A citizen who is about to open a personal savings account should visit the selected bank and draw up a statement. You must have a passport or document that can confirm your identity (for citizens of other countries) and the right to reside in Russia. After signing all official documents, a financial institution employee will open an account.
The savings book is no longer issued.
The client will receive a personal number, which he will need in the future to carry out any banking operation.
The main instrument for operating an urgent savings account will be a bank card. Practice shows that recently, many customers prefer plastic cards, since their use is more convenient. They allow you to monitor your account at the right time from anywhere in the world.
It should be remembered that the number is very important information. If a bank client cannot use this attribute, he loses the ability to conduct money transactions in a savings account. In this regard, the details should be stored carefully, and transferring them to someone is extremely undesirable. What makes the Savings Account deposit unique?
Benefits, Features
The main feature that distinguishes it from other types of savings programs is perpetuity. To be more precise, the client has the right to independently determine the period during which his savings will be stored in a bank account. This approach allows us to make cooperation between a financial institution and a depositor better. However, in some situations, banks have the right to early terminate the contract with their depositors, which is regulated by the relevant financial legislation.
Typically, the bank decides on the need to terminate the contract in cases where the balance of the client deposit for a long time remains zero. The bank is also able to freeze a savings account if the client does not carry out any financial activity on it for two years.
Operations at any given time
The undeniable advantage of savings accounts is that the owner has the right to carry out operations, replenish, or withdraw savings at any time. The client can carry out such operations from anywhere using the method of cashless or cash transfers. There are no restrictions on operations - a client of the bank can deposit absolutely any amount, just like withdrawing the necessary amount of money from the card.
In addition, customers who operate a savings account using a plastic card may not worry about the safety and security of their own contribution, as the funds are reliably protected by specially designed security systems. They are almost impossible to get around.
Closing process
Holders of savings accounts have the right to close the program at any time. To do this, you should visit the bank and submit the appropriate application. Only the owner can close the account, that is, any other person will not be able to do this.
The bank representative will first check all the data in the application, and then begin the closing procedure. When the contract is broken, the depositor is first issued all the remaining savings, and then the account itself is canceled. Together with this, all additional banking services used by the depositor are disabled.
Closing such an instrument online
Recently, many banks have been providing their customers with a service such as online closure. But this approach has certain drawbacks - it is likely that an unauthorized person will gain access to the savings account. Therefore, banks usually allow the client to only freeze their own service remotely, and to close it directly you will have to visit a banking institution.
Tariffs and interest on savings accounts in banks
In addition to the fact that the client, opening such a contribution, gets the opportunity to store money, he also has the opportunity to receive a certain income in the form of interest. Each bank has its own tariff rates and interest rates on deposits of this kind.
The most popular product is a savings account at Sberbank. A client of a financial institution gets the opportunity to preserve their own savings, and he is not limited in the implementation of operations. To open a deposit, a person will have to deposit a minimum amount of 10 rubles on it. After that, he can deposit and withdraw any amounts.
In addition, interest will be accrued on the cash balance. So, if the account balance does not exceed 30 thousand rubles, 1% of income will be charged to the client; up to 100 thousand rubles - 1.1% of income (and further, on an increasing basis). The maximum interest rate on this product is 1.8%. It is precisely such income that a client can count on if he has more than 2 million rubles in his account. The conditions of other banks differ; you can familiarize yourself with them on official portals or when contacting the selected institution.
It is worth noting the significant drawback of savings accounts - due to the fact that the owners get the opportunity of unlimited management of their own funds, banks charge very small interest on them. So, it is hardly possible to accumulate funds in this way.
Reviews on this financial product
Feedback on savings accounts is rather mixed. Due to the low interest rates on them, many customers prefer to make time deposits. However, some use a similar product for more convenient rotation of funds and simple saving of savings, and not for profit.