Bank deposit remains a popular way of investing money primarily because of its reliability. However, by choosing the right type of deposit, you can not only keep your savings, but also increase.
Instructions
Step 1
Decide on the investment parameters that are optimal for you. Long-term deposits are usually more profitable in terms of interest, but you will be limited in the ability to use your money for a long time. Most banks in case of early withdrawal of such a deposit will charge you only a minimum percentage. If you want to retain the ability to use money at any time, choose short-term programs or deposits with the ability to withdraw money without losing interest. Also, if you want to save money, that is, save it for a small amount, choose such an investment program, according to which you can replenish the deposit at a time convenient for you.
Step 2
Decide what currency you want to keep your money in. When receiving income in rubles, it is logical to keep money in this currency, but if we take into account the high inflation of Russian money, this may become unprofitable. Best of all, a multicurrency deposit will protect you from changes in sentiment on currency exchanges. For such deposits, the interest is usually lower, but this is paid off by the lower inflation of the dollar and euro compared to the ruble. You will lose small amounts on conversion, but your money will be protected. In addition to currency, there are so-called metal deposits - in this case, your money is kept in gold or platinum. Such savings can be beneficial in an economic crisis, when rates of even major currencies are unstable, and the demand for precious metals is growing.
Step 3
Find the bank with the most interesting offer for you. First of all, pay attention to programs that provide for capitalization of interest. In this case, the accrued amounts will be added monthly or quarterly to the principal amount on the account. That is, in the next period, interest will also be charged on this money. Thus, the effect of compound interest is created, allowing you to raise the income on the deposit above the inflation rate.
