Opening a bank account allows you to increase your savings, insure yourself against unnecessary spending, help save the necessary amount for a large purchase, or simply make your life more convenient. It all depends on the type of the chosen deposit.
There are several reasons for opening a bank account. Let's take a closer look at each of them.
1. Increase of accumulated funds
If you want to get the maximum interest, you should pay attention to term deposits. The longer the term and the amount of the deposit, the higher the interest rate, as a rule. But the peculiarity of such deposits is that it is very unprofitable to withdraw money ahead of schedule. So it is worth keeping in mind that in order to obtain maximum profit, you will have to "freeze" the funds until the end of the term of the deposit.
2. Target savings
If your goal is to save up for a large purchase, you should pay attention to deposits with the possibility of replenishment. Thus, you will be able to set aside money for a future purchase at regular intervals. And the bank, in turn, will charge interest on the amount that will be in your account.
3. Security of funds
If you open a bank deposit in order not to keep large sums of money at home, then replenishment-withdrawable deposits are suitable for you. By opening such a deposit, you can both deposit funds to the account and withdraw them if necessary. The interest on such deposits, as a rule, is lower than on term deposits. You should also carefully read the terms of replenishment and withdrawal of funds. In different banks, they can be very different from each other.
4. Ease of travel
If a card is linked to your bank account, you can use your money while traveling. You can also get a credit card for your travel convenience. In this case, a special bank account is also opened, but you do not use your own funds, but a loan from the bank, which must be repaid within a certain period.
Also, bank deposits can be used to receive funds if you work under a contract and receive wages by bank transfer. Almost any account is suitable for this, but be sure to check this question with the managers of your bank.
It is also worth remembering that under the compulsory insurance program for bank deposits, the state insures no more than 700,000 rubles placed in one bank. So if you are not sure about the stability of your bank, try to distribute your funds among several banks in such a way as to be reliably insured in the event of bank failure.
