One of the most important issues that must be resolved before opening a deposit is to decide on the currency. Indeed, the profitability received from placing savings in the bank will largely depend on the right choice.
Terms of bank deposits in different currencies
The largest number of bank deposits today are opened in rubles, dollars and euros. At the same time, ruble deposits are distinguished by increased rates in relation to foreign currency ones. Therefore, it cannot be said that the latter are more profitable than the ruble ones in the context of the devaluation of the national currency.
So, according to the Central Bank of the Russian Federation, the average rate on ruble deposits in May 2014 with maturities from one year was 7, 19%. At the same time, at such an interest rate, all profitability can be offset by the devaluation of the ruble and high inflation.
Whereas on dollar deposits the average rate is 2, 74%, on deposits in euros - 2, 29%. Foreign exchange deposits tend to fall in rates. At the beginning of the year, the average rate on dollar deposits was 4%. It turns out that such deposits will be more profitable than ruble deposits only if the ruble falls by more than 4-5%. It should be borne in mind that the ruble may decline by less or even win back its positions against the dollar. At the same time, the profitability on foreign currency deposits decreases by 1-2% upon currency exchange. Therefore, such deposits are more profitable for those who have sources of income in foreign currency.
There are also proposals for deposits in exotic currencies (yen, Swiss francs, yuan, etc.). But they can be opened in a limited number of banks, but the interest rates on them are minimal. In this case, you will need to deposit a fairly large amount in foreign currency. For example, on the "International" deposit from Sberbank, it is necessary to invest at least 10 thousand Swiss francs (rate - from 3.25% per year), in OTP Bank - from 50 thousand (rate - 2, 3-2, 5%) …
In what currency is it better to open a deposit today?
Experts disagree in which currency it is more profitable to keep money, but they are similar in one thing - it is desirable to distribute all savings between different currencies. Some of them should be kept in rubles, some - in dollars and euros. This will reduce the negative impact of foreign exchange risks on existing savings.
Savings diversification can be achieved in two ways - open several deposits in different currencies, or open a multicurrency deposit. In the first option, you can put 50% on a ruble deposit, the rest can be distributed between dollars and euros. The bulk of your savings should be in the currency in which you spend most of your expenses. The advantage of opening different accounts is higher interest rates, and the disadvantage is the impossibility of operational management of savings and the redistribution of the share of different currencies. Thus, this type of deposits is suitable for those who do not have the goal of making money on the exchange rate difference.
Multi-currency deposits make it possible to speculatively increase the portfolio of a particular currency at the right time. But the rates on them are not the most profitable today. For example, on the "Multicurrency" deposit from Sberbank, the ruble rate is 5.3% -5.9%, in euros and dollars - from 0.85 to 1.75%. At Alfa-Bank, the rate varies from 4.4% to 7.4% in rubles and from 0.1% to 2.4% for foreign currency. In this case, part of the profitability is lost on exchange operations for the purchase / sale of currency.
