Sberbank is one of the largest banks not only in Russia, but also in the CIS. It has the largest branch network, offers a complete list of investment and financial services. Since the period of 2012, the Central Bank of the Russian Federation, which owns 51% of the shares, has been the main shareholder of the financial institution. About 40% of the shares are the property of foreign companies. The financial institution is the dominant link in the country's financial policy and one of the main creditors of the state.
Digital statistics
It is too early to talk about whether the deposits of Sberbank's clients can freeze. Statistics of the financial institution speaks of a very positive direction. So, by March 1, 2015, the assets of the institution amounted to 21.945.67 million rubles. This indicator brought Sberbank to the first position among other institutions of the banking sector. The capital of the institute, which was calculated in accordance with the standards of the Central Bank of the Russian Federation, is equal to 2.224.53 billion. As for the loan portfolio, its size is 14.970.52 billion rubles. The commitments made to the state’s population are 8.391.53 billion.
What is the leadership talking about?
Despite the difficult economic situation in the country, those deposits in rubles that Sberbank froze after 1991 are still planned to be paid in the previously established mode. No one is going to adjust the three-year plan being developed a year ago. The draft federal budget included an amount of 50 billion rubles for each year to compensate deposits in the period from 2014 to 2016. After the adoption of the law on the protection of deposits of the population, the state assumed full responsibility for the payment of deposits, which had to be completely frozen during the Pavlovian reform in 1991. In accordance with the document, deposits were to be converted into securities.
Bank debt to depositors
The domestic debt of the state, in accordance with the size of savings, in 2012 amounted to 27.7 trillion rubles. This figure was announced by the Ministry of Finance. Between 2005 and 2011, systematic payments were made to citizens of a country of a certain category. In total, the frozen deposits of Sberbank decreased by 365.5 million rubles. Since 1996, the inhabitants of Russia have received 441.6 billion rubles in their hands.
Legal framework for payments
Frozen deposits of Sberbank will be gradually paid until 2016. Payment will be made to persons born in 1945. Money can receive the heirs of the latter in the amount of three times the balance as of 1991. If previously the depositor or his heirs received partial compensation, it will be deducted from the main debt of the state. If the deposit was officially closed in 1991 from June 20 to December 31, no compensation shall be deemed for it.
Residents of Russia, whose year of birth from 1946 to 1991, will receive compensation for their deposit in half. The volume of payments will be calculated individually in accordance with a certain coefficient, it depends on the duration of the deposit. If the depositor died in the period from 2001 to 2014, and the size of his deposit was more than 400 rubles, heirs can receive from the state about 6 thousand rubles to pay for funeral services. Starting from 2014, all depositors will be able to receive deposits regardless of the year of their birth. The fulfillment of state obligations in full is planned for 2020.
Deviation towards legislation
Citizens of the state who are counting on compensation should know that Sberbank does not return deposits in rubles in certain circumstances. The following people cannot count on financial rehabilitation:
• Depositors and their heirs, who, living on the territory of the Russian Federation, do not have citizenship.
• Depositors and heirs who currently do not reside in Russia or are citizens of other states.
Payments on deposits that were opened on the territory of states formerly members of the USSR are made by the governments of those same states and in strict accordance with the legislation in force on their territory. Information on damages is recorded in the savings book. Such a serious approach to its obligations to depositors makes reflections on the topic of whether Sberbank can freeze deposits in 2015, irrational and premature.
What deposits does the bank offer today?
The financial institution continues to work actively. There is a wide range of offers not only for foreign currency deposits with Sberbank, but also for deposits in rubles. Despite the reduction in rates, the range of offers remains very wide. Today, customers of a financial institution are available new deposits of Sberbank:
- Rechargeable . The deposit can be opened in euros, in rubles and in dollars. The minimum deposit is from 1000 rubles, 300 dollars and 300 euros. The duration of the deposit is from three to 12 months. If desired, the deposit can be replenished by 1000 rubles, 100 dollars or euros, it all depends on the currency. 5% is offered for ruble deposits, 4.15% for dollars, and 3.85% for euros.
- Special . The duration of the deposit is from 3 months to three years. The minimum contribution is thirty thousand rubles, 1000 dollars or euros. The proposed interest on the ruble deposit is 4.85%, on the dollar - 5.3%, on the euro - 4.75%.
- Cumulative . This is a deposit with a minimum contribution of 30 thousand rubles at 6%. The percentage itself may vary depending on the volume of the deposit and its duration. The duration of the deposit is 24 months. Additional contributions from 1000 rubles are allowed.
The latest offers made by Sberbank of Russia are trust deposits and “Give Life”, multicurrency and universal. Everyone will be able to find the optimal investment format for themselves, but whether it is worth agreeing to a partnership, we will deal with this issue below.
Great offers for seniors
Within the framework of the policy of Sberbank of Russia there are very interesting proposals for the elderly. Two types of deposits can be mentioned:
- Pension in rubles with an interest rate of 6% . The minimum deposit is 1000 rubles, and the duration of the deposit is from three months to two years. You cannot withdraw funds from the account and replenish the account. If the opportunity to replenish the account is open, then the interest on the deposit is 5%.
- Pension plus . This contribution is only for pensioners with an initial capital of 1 ruble and the possibility of replenishment also from 1 ruble. The interest rate is 3.85%. The partnership period is 36 months.
Prospective investment, or One side of the coin
Over the past decade, the entire domestic banking system has undergone dramatic changes. This applies not only to development, but also to degradation. In parallel with the expansion of the range of services, the closing and bankruptcy of financial institutions took place everywhere. Those institutions that managed to survive the crises of 1998 and 2008, in 2015 lost their positions. The most common service is a deposit. Sberbank of Russia offers deposits that are far from the most profitable, but in terms of reliability it is several times higher than private commercial organizations.
How about a bet?
If you look at the question from the side of the rate as an attempt by the bank to attract as many investors as possible in order to stay afloat, then Sberbank’s policy wins against the general background. It was reported that the bank has recently cut rates in order to maintain its liquidity. This fact very upset investors and caused a wave of indignation from the public. People are also interested in the question of whether Sberbank can freeze deposits. There is no definite answer here; we can only state the fact that at the moment the financial institution is fully fulfilling its obligations to customers, albeit with small hesitations. Against the background of bankrupt brothers, negative reviews of which are widespread everywhere, it is a good option.
Bad story
Sberbank, although it acts as the most reliable domestic bank, its history does not give many potential investors peace of mind. Contributions frozen in 1991 excite contemporaries. The question as to whether foreign currency deposits will freeze or not is widely heard. People worry about repeating the story. On the other hand, financial institutions such as Financial Initiative and PSA, Finance and Credit and Terrabank completely abandoned their obligations due to lack of capital. All the manipulations of the government and management personnel, until they bring results. If we consider the new deposits of Sberbank, we must take into account the fact that the financial institution enjoys the strong support of the government. He never gave up his duties and even today is trying to fulfill his duty to investors of the past.
Some interesting points
If you look at the statistics, it is Sberbank, the deposits of individuals in which is constantly increasing, is the most reliable and unshakable. If the country defaults, which is unlikely, the financial institution will close last. Being the owner of 51% of the institution’s shares, the government is doing its best to support it, systematically carries out additional capitalization, and frozen deposits of Sberbank in 1991 are paid out even today after a preliminary contribution to the country's budget. When planning cooperation with a financial institution, you should pay attention to the following points:
- Interest rate, which is an order of magnitude lower than that of competing structures.
- It makes sense invested in Sberbank deposits of individuals in the amount of 700 thousand rubles, as they are completely covered by agency insurance.
- If you plan to deposit a small amount and for short periods, it is better to do this in a small commercial institution. There, the percentage is higher, and the probability of bankruptcy in such a short time is almost completely excluded.
What difficulties did the bank face today?
There are no complaints regarding the payment of deposits to a financial institution. Moreover, the frozen deposits of Sberbank from 1991 are systematically paid. Small problems may arise when withdrawing large amounts of money, and even then not in terms of refusal of payments, but in the aspect of the need to order money at the cash desk in advance. In December 2015, the bank's customers received information that ruble and foreign currency deposits would be frozen for the holidays. The financial institution did just that - it blocked access to its customers' accounts from December 31 to January 5. After the specified time, the functional was restored. The financial institution was forced to conduct such manipulations because of sharp jumps in currencies, and such a combination of circumstances is not a harbinger of problems. There were minor malfunctions in the online office and in the field of translations. Delays in receiving payments and in delaying transfers were noticed. As for deposits, there are currently no complaints about the financial structure, therefore it is not worth considering seriously whether the deposits can be frozen.
Are deposits in domestic banks protected?
All deposits in domestic banks are covered by the Deposit Insurance Agency. In accordance with the law, each owner of a deposit in case of bankruptcy of a financial institution can receive compensation in the amount of 700 thousand rubles if the deposit is equal to the amount or more. Information is received regarding the fact that over the past month the size of the insurance payment has been doubled and now amounts to at least 1,400,000 rubles. Worrying does not make sense. Both ruble and foreign currency deposits in Sberbank are well protected by law. If you take into account the actual economic situation in the country, then you should avoid storing your capital in one financial institution, albeit the most reliable. By sharing the available funds between large market participants, you can perfectly diversify risks. Even if some deposits in banks are frozen, then interest on others will almost completely cover all losses. Sberbank can become a worthy participant in the investment portfolio, but by no means the only place of accumulation of all free capital.