Bank deposits are the simplest and most affordable way to accumulate and increase your own funds. Today, the market offers a wide variety of banking products, in this regard, it is important not to be mistaken with the choice of deposit and to make the right choice.
How to choose a profitable bank deposit
At first glance, the logic of choosing the most profitable deposit is extremely simple - the higher the interest rate, the higher the income. But not always high rates are a guarantee of high profitability, in this case it is necessary to take into account a number of factors.
It is worth considering the average value of deposit rates, which is published by the Central Bank of the Russian Federation. According to the regulator's recommendations, the rates set by banks should not deviate from the arithmetic mean by more than 1.5%. Typically, ultra-high interest rates are offered by small banks. Before choosing a deposit, it is worth seriously assessing the possible credit risks, studying the financial history of the bank, making sure that the bank is a member of the deposit insurance system, and also looking at whether it has a license to raise funds. To minimize risks, you can place your savings in several banks. We must not forget about the taxation of high interest income.
If the interest rate on a ruble deposit exceeds the refinancing rate of the Central Bank of the Russian Federation by 5%, and on a foreign currency deposit by more than 9%, income is taxed at a rate of 35%.
Before opening a deposit, you need to decide on the purpose of opening it and the proposed operations with the account. In banks, as a rule, there is a rule - the less freedom the client is given in the area of account management, the lower the interest rate.
What other factors affect the interest rate and profitability of the deposit. Firstly, this is the size of the contribution. The larger the deposit amount, the higher the profitability. But if you plan to open a deposit in the amount of over 700 thousand rubles, then you should take into account the degree of the bank's reliability in the Russian market.
If the amount for placement is less than 700 thousand rubles, you can open a deposit in any bank that is a member of the deposit insurance system, because revocation of the bank's license, the depositor is reimbursed the entire amount of the deposit
Secondly, the deposit currency affects the deposit's profitability. The most profitable in terms of interest rates are foreign currency deposits. For deposits in euros and dollars, it is significantly lower (2-3 times). But you shouldn't give them up. In the context of the devaluation of the ruble, they may become more profitable, and the yield on ruble deposits may depreciate under the influence of inflation.
Thirdly, this is the term of the deposit. The longer you plan to keep money, the higher the interest and profitability. In the case of perpetual deposits, we are not talking about increasing your own funds, the benefits will be reduced to zero.
What are the most profitable deposits
From the point of view of the interest rate, deposits can be arranged as follows: in the first place - savings (the rate is 0.5% higher than the savings rate), in the second - accumulative ones, in the third - settlement (the rate is 1.5% lower than the savings ones). Savings deposits are the most profitable in terms of interest rates, but savings deposits have the opportunity to increase profitability by depositing funds into the account.
If you do not plan to withdraw interest on the deposit, then it is worth choosing deposits with interest capitalization. The effective interest rate on them will be higher than the nominal one. The more often the interest capitalization will be, the higher the yield will be. The greatest profit can be brought by fixed-term deposits with monthly capitalization of interest and without the possibility of partial withdrawal. For such deposits, banks may set a higher interest rate when the amount on the account increases.
It is worth paying attention to seasonal deposits, which are valid for a certain limited period of time. The most favorable rates are set for them.
