Investors argue that long-term investments are the most profitable way to store savings. Money registered as a deposit can bring its owner considerable passive profit. But for this, the choice of a suitable bank proposal must be approached with special attention.
It is necessary
- - initial deposit amount
- - passport of a citizen of the Russian Federation
- - analysis of the conditions of bank deposits
Instructions
Step 1
Collect information about the offered deposits of all banks located in your area. You shouldn't be limited only to large banks. They are the ones who most often set the lowest interest rates at the depository. Small banks are much more interested in depositors, so their deposits can be more profitable. Information on deposits, as a rule, can be easily found on the official website or in a bank branch.
Step 2
Determine for yourself the criteria for the selection of suitable bank deposits. They are subdivided by currency, the amount of the initial deposit, the smallest amount of subsequent contributions, the terms of the deposit, the methods and terms of withdrawing funds and the possibility of capitalizing the deposit. The most profitable are deposits with relatively high initial payments.
Step 3
Analyze your income for the last year. Calculate what is the size of your monthly asset, which you would normally save in your savings fund. This amount will be your additional contribution to replenish the deposit.
Step 4
Compare the interest rate on long-term and short-term deposits of each bank. This criterion will play a major role in decision making. You should choose several banks offering the highest percentage. As a rule, depending on the term of the deposit, it ranges from 3 to 7%. At this stage, it is important to remember that the possibility of capitalizing deductions plays a special role. This term hides a banking procedure that allows you to replenish the amount of the main account with interest deductions on the deposit. This opportunity allows you to gradually increase the main contribution, increasing the interest deductions from period to period.
Step 5
Pay attention to the possibility of closing the deposit. Some proposals of banks prohibit early termination of the deposit and withdrawal of the amount at the request of the client. In other cases, the bank makes the early termination of the deposit extremely unprofitable for the client. So, the depositor can lose not only potential interest payments for the current period, the bank can oblige the client to pay a commission for terminating the deposit agreement before its completion. You can find out these important nuances at the bank branch.
Step 6
Stop your choice, based on the analysis of bank offers, at one bank and open an account with it. Contrary to popular belief that money must be kept in several banks, in order to get more profit from the deposit, all savings must be concentrated in one account.
Step 7
Contact the bank branch and apply for a deposit. You must have a passport of a citizen of the Russian Federation with you.
