Today, perhaps, there is no such bank that would not offer deposit programs for the population with a monthly interest payment. They differ most often in the amount of the minimum contribution, interest rate and term of the deposit.
How to choose the best? About this in our article.
Basic concepts
Deposits with a monthly payment - this is an urgent investment. Interest on these deposits is accrued every month. Depending on the terms of the contract, they can be withdrawn to a separate open account, cashed, or attached to the main deposit.
One type of fixed-term deposits are rental deposits. They differ in a rather large amount of the deposit placed in the bank. The amount of monthly payments allows the owner of the deposit to live off the profits.
Rent deposits with a monthly interest payment have the following features:
- Profit is directly proportional to the term of the deposit.
- The standard contract does not provide for replenishment of the deposit and partial withdrawal.
- The interest rate is lower than conventional term deposits.
Package of documents
Most often, a bank requires a passport and identification code to process a deposit. Instead, you can provide a passport or military ID. An application is filled in place in the presence of a bank specialist.
Interest accrual
Deposits in banks with a monthly payment - this is a regular profit. The interest calculated and paid by the banking organization, the client can receive in the form of:
- cash;
- transfer to a specially opened account;
- additional amount to the main investment.
The amount of interest on the deposit will increase in proportion to the period for which the deposit is open, and the increase in the deposit. That is, for example, funds entrusted to the bank for two to three years will be approximately 3% more than the same funds, but for a period of three to six months.
Bets
Rates on deposits with a monthly interest payment range from 6 to 10%. Depending on the amount of the deposit, the following rates may be offered:
- VTB 24: 6.45-9.35%;
- “Discovery”: 9%;
- Sberbank: 6.15-7.35%;
- MDM Bank: 9.45%;
- Russian Agricultural Bank: 9.65%;
- Promsvyazbank: 9.5%.
In addition, there is the so-called interest capitalization. We are talking about "complex" interest. That is, the amounts accrued monthly are added to the main deposit (capitalized), and, consequently, the income from the deposit also increases.
How to calculate your monthly profit?
The easiest way to do this is on any site that has an online calculator. It has quite a few features. Payments can be calculated for any type of deposit, including with capitalization, with the addition and accounting of taxes. Advanced users are advised to calculate monthly payments on deposits at several banks and choose the best option for themselves.
There are several formulas for calculating interest. One of the most commonly used is the effective interest rate on the deposit. It is used only for deposits with capitalization. Its relevance consists in the fact that unpaid interest increases the body of the deposit, that is, it increases every month and entails an increase in interest and, accordingly, the final income.
N is the number of interest periods during the term of the deposit,
T - period of placement of money in the bank, in months.
The disadvantage of the formula is that it is applicable only in the case of an integer number of months and monthly capitalization. What if the deposit is issued for 100 days, for example. We apply the universal formula:
It can be used for deposits with any frequency of capitalization and non-standard terms of deposit opening. The formula calculates, in annual percent, the ratio of the profit received to the initial investment.
The disadvantage of this formula is that it is possible to use it only after calculating the interest on the deposit.
Early termination of the contract
If the client demands to return the invested funds before the expiration of the agreement, then the interest in this case will be accrued as on demand deposits, unless otherwise specified in the contract.
If the client does not apply for the return of the invested money either ahead of schedule or at the end of the term of the deposit agreement with a monthly payment, the contract is considered prolonged automatically (unless otherwise provided by the agreement).
How to withdraw funds?
For this, 7-10 days before the deposit closes, you must personally come to the office. You need to have a passport, your own copy of the contract and a statement from the current account with you. The action plan is simple. In the presence of a bank specialist, a statement is written about the early termination of the contract. Then a copy of the statement is made.
If a deposit in rubles with a monthly interest payment is closed ahead of schedule, then the banking organization has the right to reduce the interest rate over the past 30 days (sometimes to zero).
If the money is withdrawn on the day the deposit expires, the application is not written, since the entire amount is automatically reserved in the client’s account.
If you withdraw the amount of 200,000 rubles or more, you must contact the bank in advance and write a statement indicating the amount and denomination of banknotes. The application must be approved and the day the funds are paid out.
Today, all the procedures described can be carried out via the Internet on the official website of a banking organization and receive money into the account without ever appearing in the office.
Deposit closing
Opening a deposit with a monthly payment, the client and the bank agree on its expiration date. Upon its expiration, the contribution is either closed or automatically prolonged. But what if you need to close the deposit ahead of schedule?
Documents are provided to the office where the deposit was opened: a passport or other identification document, a copy of the agreement and, if available, a passbook. An application is made on the spot, on the basis of which the bank specialist closes the deposit.
The foreign currency deposit is closed according to the same scheme. You can use an ATM or terminal, but the Sirius system must be installed on them. It is understandable even to the most inexperienced user, and the scheme of its action is similar to a similar procedure in online banking.
Insurance
Current legislation obliges banks to insure all investments up to 700,000 rubles. The state deposit insurance system guarantees return (in case of bankruptcy of a banking organization).
Are deposits with monthly interest payments beneficial?
Like any banking product, such deposits have their disadvantages and advantages. The latter include:
- Almost every contract allows you to add funds to the main contribution.
- At the end of the agreement, it is automatically prolonged (unless otherwise specified in the contract).
By cons, many attribute a “strange” return. If we compare two deposits with the same validity periods and interest rates, but in one they are paid monthly, and in the other at the end of the term, then the latter will be more profitable. Here it is worth considering - when the money is needed: monthly, but in small amounts, or one-time, but large.
Among user reviews of deposits with a monthly payment, the theme of the complexity of the bank’s actions when transferring these percentages is often encountered. Most customers think this is intentional. Actually, maybe this is about taxation? Often, banking organizations pay deposit taxes for their customers. It should be noted that deposits are taxed only with a fixed rate of over 13%. This figure is floating. It depends on the refinancing rate of the Central Bank and is calculated as the sum of the key rate of the Central Bank on the day of conclusion or extension of the agreement with the bank and 5% of the annual rate.
An undoubted minus is a sharp decrease in the rate with early closure of the deposit.
Bank Offers
There are profitable deposits with monthly interest payments both in large banks with state support, and in small ones.
For example, in Otkritie Bank, you can open a deposit of 20,000 rubles for a period of 12 months with an interest rate of 9%.
Sberbank limits the amount of one thousand rubles. The term of the deposit varies from three months to three years, and the rate - from 6.15 to 7.35%.
MDM Bank offers to open a deposit in the amount of three thousand rubles for a period of six to twelve months. The bank rate is 9.45%.
A convenient deposit for pensioners with a monthly interest payment is offered by Soyuz Bank. Deposit term from 3 months to a year. The minimum investment amount is 500 rubles. The maximum rate is 8.95%. One of the advantages of this short-term deposit is replenishment. There are also disadvantages. The deposit has no capitalization, it is impossible to withdraw money partially, and there are also restrictions on withdrawing funds.
A more profitable deposit for pensioners can be made at VTB 24 Bank. There are two options: in person at the office with a passport and a pensioner certificate, or through the Internet and the Telebank system. The minimum amount of 10,000 rubles is available in the “Target” deposit. It opens for a period of 6 to 36 months at a rate of up to 7.6%. It is allowed to deposit funds in the amount of one ruble. The “Profitable” deposit in the same term, but with an amount of more than 100,000 rubles, is issued at 7.4%. According to the rules of the deposit, you can add from 30 000 rubles. The most profitable contribution is “Cumulative”. 100,000 rubles, entrusted to the bank for 90-1100 days, will bring profits of up to 9.2%.
The benefits of these deposits for pensioners in VTB 24 are many. For example, a guarantee of safety of funds entrusted to the bank. This organization has government support, moreover, it has established itself as successful and stable. In addition to a wide range of deposits for retirees, there is another huge plus: a power of attorney and testament. That is, a testament, or, if desired, a power of attorney to manage this money, can be made for any deposit opened by a pensioner. It spells out all the actions allowed to the authorized representative. You can use the power of attorney by proxy at any time.
When choosing a banking organization for making a deposit with a monthly interest payment, experts recommend paying attention to the reliability of the organization and its place in the rating of Russian banks. It happens that in such banks, interest is slightly lower, but the likelihood of bankruptcy is almost zero. And, therefore, the contribution will be saved, and profit will be received.
Banks of Moscow: deposits with monthly payments
There are many offers of such deposits in the capital. Here are some of them with a deposit term of at least 180 days:
Moscow Industrial Bank: seasonal contribution Spring Traditions, annual rate of 9%.
Loko-Bank: “Income Strategy”, rate of 10.5%.
Housing Finance Bank: Friendship Online, rate - 8.8%.
Soyuz: Double Benefit, rate - 8.5%.
UniCredit Bank: "For Life", the rate of 8.2%.
Vostochny Bank: Vostochny, interest rate 0.08%.
“Binbank”: “Monthly income (in rubles)”, rate of 8%.
Uralsib: Honorary Pensioner, rate of 8.05%.