Sberbank is one of the largest financial institutions in Russia. His clients are not only business representatives and private individuals, but also ordinary Russians with an average income level. Despite the rather impressive age by bank standards, this bank has still not lost its former popularity. On the contrary. His client base is regularly updated with new people. And all because this credit institution has financial products designed for various age categories, including elderly citizens. Recently, a new Pension-Plus deposit program has been developed just for them. A deposit in Sberbank can be received by pensioners who meet certain criteria. We will tell you more about the design conditions and features of the program below.
The whole essence of the program in a nutshell
“Pension-plus” - a contribution to Sberbank, which is designed for citizens of retirement age. Moreover, they must be registered with the Pension Fund of the Russian Federation or a non-governmental organization and receive appropriate financial assistance.
Thanks to this interesting program of the bank, its customers can count on additional income from their pension. And this is a great help for many, especially in the complete absence of other sources of profit.
Sberbank: Pension Plus deposit, terms and rates
If you are interested in this investment option, it will not be out of place to find out more about the conditions of such an accumulation system. To issue such a deposit is real for only three years. Moreover, this can be done exclusively in national currency. And the minimum deposit size can start from 1 ruble.
The deposit refers to replenishable deposits with the possibility of prolongation and capitalization. It involves a partial withdrawal of money and the presence of a non-combustible minimum balance of only 1 ruble. The interest on the deposit is accrued every 3 months. It is under these conditions that Sberbank operates . The rate on the Pension-Plus deposit in this case is 3.5%, and taking into account the completed capitalization - 3.67% per annum. Moreover, interest can be accrued and added to the initial deposit amount. In this case, there will be an increase in income in the next reporting periods.
What is the capitalization of the deposit?
Deposit capitalization is an additional interest accrual on the initial amount of your deposit. This service helps to obtain additional passive income due to the complex formula for calculating interest. It is interesting and profitable.
Where and how can I arrange?
In order to apply for “Pension-Plus” deposit in Sberbank, you must visit one of the nearest branches. From the documents you need only a passport and a pension certificate. All that remains is to sign a banking agreement and deposit any amount into an open savings account. Or you can apply for participation in the program using the terminals and ATMs of a credit institution, as well as Sberbank Online Internet banking.
How to calculate the size of the profit on the deposit?
Before contacting Sberbank (“Pension-plus” is a contribution, interest on which is accrued quarterly), it is necessary to carry out the relevant calculations on the financial institution’s website. In particular, a virtual online calculator works here for this purpose. If there is no access to the network, bank representatives will help you calculate the remuneration for the deposit.
For clarity, we give an example with calculations. So, if you make a deposit on December 29, 2016 in the amount of 1000 rubles, then the end date is December 29, 2019, which corresponds to 1096 days.
In the presence of interest capitalization, the absence of early withdrawals and regular replenishment of the deposit, the average monthly income will amount to 3.06 rubles. For the entire period of interest calculation, the amount of your profit will be equal to 110.31 rubles. They, together with the main contribution, will be issued by Sberbank. The Pension-Plus contribution (piggy bank) allows you to get a benefit, the size of which increases along with an increase in the amount of the main deposit.
What information is indicated in the contract?
Before making a deposit, a pensioner needs to sign a cooperation agreement. It usually indicates the following data:
- the amount of the selected currency;
- terms of deposit;
- end date of deposit closing;
- deposit rate;
- minimum amount of additional contributions paid in cash;
- frequency of additional contributions;
- amount of fireproof balance;
- interest calculation procedure, etc.
Also in this document the contact details and details of both parties, and sometimes the authorized representatives of the pensioner, are indicated. After reconciling the data, both parties to the agreement sign the document.
Is it possible to open a deposit for several people at once?
The Pension Plus program (deposit with Sberbank) does not allow opening a deposit for several people at once. It is allowed to issue a power of attorney for other persons. At the same time, the pensioner is still the main owner of the account. However, his proxies may gain access to certain operations, for example, receiving money on his behalf. In this case, the power of attorney is issued free of charge directly at the bank. The procedure does not require the mandatory presence of the person to whom the pensioner entrusts the management of the deposit, but requires mandatory verification by a notary.
Are there any benefits for investors?
Participation in the Pension Plus program takes place on preferential terms. In particular, accrual of interest on the deposit occurs at the highest possible value. Moreover, this percentage does not depend on the initial amount of investment.
The possibility of prolonging the contribution
The extension of this type of deposit is assumed. It is performed automatically according to the terms of the deposit agreement.
How to withdraw accrued interest?
Interest accrued on the deposit is added to the principal amount of the deposit. But, if desired, the client can withdraw them in whole or in part at any bank branch or using the Sberbank Online service.