A reasonable decision when trying to increase free money may be to open a deposit in a bank. This simple procedure can be complicated only by the choice of a credit institution. Competition is forcing banks to do all sorts of tricks in the pursuit of customers. Advertising slogans excite the minds of potential investors, offering the most favorable conditions. Let's try to figure out how deposits are profitable and what is behind the high figures of interest rates that appear in bank offers.
Placement of a cash deposit has always been and remains the most popular financial instrument. In earlier times, only savings banks could provide reliable storage and an increase in money. Since then, the number of banks has grown many times. The simplicity of the procedure for placing funds is ensured by the fact that no additional documents are required to open a deposit. It is enough for a Russian investor to have only a passport with him, foreigners additionally present a migration card and registration in our country.
The difficulty for the client when investing money is only in choosing a reliable bank and the type of deposit. High interest rates, up to 11.6% per annum, are most often offered on condition that funds are deposited for a long period. Thus, the opening of the “BPF +” deposit in the Bank for Project Financing will bring the client a profit of 11.15% per year with a placement term of 549 days. Ergobank has almost the same conditions with the Amber deposit. These two deposit products currently top the list of effective deposits made by banking experts.
The bulk of deposits offered by banks focuses on an interest rate of 9-10% per annum. One can talk about a significant profit for the investor only when investing in a financial institution for a long time. Such an offer, for example, is announced by Otkritie Bank. Deposits "Classic" to obtain an interest rate of 10% set the minimum deposit amount - 3 million rubles, the placement period - 3 years. Interest can be received either monthly, or add them to the main deposit and receive upon termination of the contract.
However, the same experts categorically do not recommend opening a deposit in an amount exceeding 700 thousand rubles for one deposit. The insurance system limits this limit to the amount of reimbursement when closing a bank. When choosing a bank and type of deposit agreement, it should be remembered that opening a deposit with an average interest rate may be most beneficial if the following parameters are available:
- the possibility of replenishment of the deposit ;
- capitalization of the deposit, providing for the accrual of "interest on interest";
- the possibility of early termination of the deposit agreement with minimal loss of interest.
And the last: when investing large sums of money for a long period of time, it is preferable to open several deposits in different currencies. Such forethought will help to guarantee effective investment of capital and its safety.