One of the main ways to increase personal finances is to make a bank deposit. However, among the many deposit programs offered on the Ukrainian banking services market, it is important to choose the most suitable one.
How to choose a profitable deposit
The reliability of the bank can be judged by how long ago it was issued a license, and how many branches it has on the territory of Ukraine.
When thinking about putting money on a deposit, it is important not to be mistaken with the choice of a bank. This can be helped by the official rating of Ukrainian banks posted on the Internet. Having determined for yourself a suitable bank, familiarize yourself in detail with the conditions for accepting deposits. This can be done either on the official website of the bank, or at its nearest branch. When deciding to open a deposit, you need to take into account a number of factors. These include: the term and currency of the deposit, the minimum deposit amount, interest and the procedure for their payment, the possibility of replenishment and early withdrawal of the deposit.
It should be noted that in Ukraine you can place a deposit not only in a bank, but also in a credit union. However, as practice shows, along with high interest rates, there is also a significant risk of non-return of the deposit.
How to conclude a deposit agreement in Ukraine
When drawing up a deposit agreement, you need to pay attention to all its essential conditions. The subject of the agreement will be the amount and currency of the deposit. Further, an important condition of the agreement is the term for placing the deposit. It can be from several days to several years. Very often, banks practice such a scheme of working with clients, when, after the expiration of the term, the deposit can be extended to a new one.
When accepting a deposit, banks issue clients with a savings book or other similar document. Often, the client is issued a bank card, with the help of which he can withdraw the entire amount of the deposit or a part of it at any time at the ATM.
Special attention should be paid to the interest on the deposit and the procedure for their payment. Depending on the conditions of a particular deposit program, interest can be paid monthly or at the end of the deposit term. Some banks may pay interest up front.
Often, along with the opening of a deposit, the client can be issued a plastic card, on which interest will be credited.
Also, the agreement must contain conditions regarding the possibility of replenishment or early withdrawal of the deposit. In case of early return of the deposit, banks can set a reduced interest rate.
Finally, you should pay attention to the procedure for returning the deposit at the end of the term of the deposit and the bank's responsibility for possible delays.
