The problem of saving earned money is familiar to everyone. Today, bank deposits remain one of the few financial instruments that allow saving savings from inflation. Not all of them are equally beneficial, therefore, before entrusting your savings to the bank, you need to familiarize yourself with the nuances that should be taken into account when choosing the most profitable deposit.
Today banks offer their clients a wide range of deposits, which differ in interest rates, expiration dates, and additional options to increase their attractiveness. Not only the reliability of the deposit, but also the convenience of using it depends on the conditions prescribed in the bank agreement. Which of the deposits to choose so that its parameters meet all the requirements? For the correct answer to this question, you need to determine which of the conditions of the deposit is the most significant for you.
Interest rate
The profitability of the deposit depends on its size. The upper limit of interest rates on deposits in Russian banks is limited by a number of regulatory documents of the Central Bank of the Russian Federation, therefore, most domestic credit organizations today offer citizens deposits at rates recommended by the regulator. In addition, from interest income that exceeds the refinancing rate on ruble deposits by 5 points, and on foreign currency deposits by 9%, you will have to pay 30% of personal income tax. This reduces the overall return on investment and makes such deposits less attractive.
Deposit currency
Domestic banks today accept deposits from citizens in rubles, dollars and euros. It is rather difficult to open deposits in other currencies. The rates offered by banks are:
• from 8 to 12% per annum - in rubles;
• from 3 to 6% per annum - in foreign currency.
Whether these percentages are acceptable, everyone decides for themselves. The official inflation rate of 7% is covered by ruble deposits, so opening them is more profitable than just keeping your savings at home. As for foreign currency deposits, there is always a chance to make money on the exchange rate difference if the dollar or euro rise in price against the ruble. This will make foreign currency deposits more profitable.
Deposit term
This clause of the agreement regulates the duration of the stay of funds on the deposit. Moreover, the rule almost always applies: the longer the term of the agreement, the higher the percentage on the deposit. Early withdrawal of the deposit entails a loss of interest, so you will have to decide how quickly the funds that you plan to place on the deposit may need. The terms of the deposits vary within a fairly wide range: you can place temporarily free money for a period from 30 days to 5 years.
Deposit amount
Of course, first of all, it depends on your financial capabilities, but when placing money in a deposit, you should remember 2 basic rules:
• the larger the deposit amount, the higher the percentage offered by the bank;
• the state guarantees the repayment of deposits of up to 700 thousand rubles; accumulation in an amount exceeding this value, in case of revocation of the bank's license, it will be very difficult to return.
By choosing the most balanced deposit according to the conditions, you can keep your savings and get a good profit from placing them on the deposit.
