Is it possible to place the organization’s funds in deposit accounts in such a way that they generate income? This question interests many. It turns out that anything is possible. Next, we will talk about what a deposit is open specifically for an enterprise or organization, and not for private individuals, what is the procedure for issuing it and feedback on some banks.
Key Definitions
Legal entity deposit is the placement of funds or securities deposited in financial institutions. As a rule, the funds of organizations are stored in current, current or budget accounts opened with banking institutions. Placement in this way does not bring an organization income.
Why is cooperation with a banking organization beneficial?
In this case, under a service agreement, the bank provides the legal entity:
- Services for the acceptance and crediting of funds received to the account.
- Services to manage the funds of the account holder according to his instructions.
- Cash withdrawal from account.
Types of bank deposit agreement
Funds that are credited to a legal entity's deposit are placed in banking institutions in other accounts upon the conclusion of a deposit agreement. Such contracts can be concluded on various conditions and are of 2 types:
1. Contracts for demand deposits (in this type of deposit, funds can be returned at the first request, but its profitability is low).
2. Term deposits agreements (the deposit is returned only after the expiration of the period specified in the agreement). The profitability of such an investment depends on the timing and amount of investments, but in any case it is much higher than in the previous case. A legal entity cannot transfer funds that are on deposit to third parties. These rules must be observed without fail.
Placement of funds on deposits
The funds of legal entities can be divided into two types: the first includes those funds that are received as a result of production or trading activities; the second includes budget funds received for development, for the provision of non-commercial services received for the implementation of targeted long-term programs or activities. Funds from the first category in most cases are in circulation and are delayed on settlement or current accounts only until the next payments or for certain purposes.
Such funds are made out on deposits of a legal entity in rare cases to solve certain problems, and the receipt of income from this investment is not considered an end in itself. The funds of the second category are delayed in the accounts of legal entities for a longer period and are spent depending on the needs of the organization or in accordance with the schedule. They can be actively placed on time deposits to generate additional income. For example, one of the largest universities in the country allocated funds received from students for tuition at a paid faculty on deposits, and directed the income to the needs of students and teachers.
A special approach to each client
When working with a deposit of a legal entity of organizations, banks, as a rule, practice applying an individual approach to each client. Interest rates are generally not publicly disclosed. They will depend on the amount and term of investments, and besides this, on how much the bank is interested in concluding a legal entity deposit agreement with this particular organization.The accounts of some organizations may accumulate and store significant amounts of money for future payments. Funds can be without movement from several days to several months, which does not bring any income to the owner.
This situation is beneficial for credit institutions - this is a free resource, and interest must be paid on deposit accounts of organizations. Therefore, banks in which current accounts are open do not always initiate the opening of deposits for them. Even if such proposals are received, then the size of the deposit interest rate for legal entities will be initially offered the lowest. But the company may insist on raising it. As a rule, banks are reluctant to place funds of organizations on term deposits up to one month.
Registration of a bank deposit agreement
Placement of funds on deposits of individuals and legal entities is made out using a bank deposit agreement. Before signing it, it is worthwhile to carefully analyze some data and determine the conditions. Firstly, the deposit account of legal entities with a maturity of more than three months should be divided into several separate deposits, since if necessary, only one of them can be closed in cash, and the rest will remain untouched. Secondly, it is not recommended to agree to a prolongation agreement. Since a change in the situation can happen in a very short time, and it is always easier to agree with representatives of the bank when concluding a new agreement. Before signing the agreement, you should carefully study the information about the forfeits. This must be known in case of early termination of the contract.
For general information: Sberbank deposits for legal entities have rather pleasant conditions. For details, contact any department. Information can also be obtained on the official website of the financial institution.
Any legal entity or individual entrepreneur can conclude an agreement on opening a deposit. This service is also provided to non-residents.
To open an account, a bank client needs to fill out an application for accession. A deposit can be opened for a period of 1 day to 3 years. You can choose from several options:
- “Classic” - the contract is concluded for 7-1096 days, is not terminated ahead of schedule. No updates. There are no restrictions on the minimum amount, a maximum of 100 million rubles. Extension is possible.
- “Replenished” - for 31-366 days, the percentage is calculated individually. The deposit can be replenished, expenses are not provided.
- “Recalled” - for 31-366 days, there is a possibility of early termination.
List of documents for opening a deposit
To open a deposit for legal entities, the following package of documents must be submitted to the bank:
1. An application drawn up by a depositor in a bank branch.
2. A copy of the constituent documents, certified by a notary.
3. A copy of the certificate of state registration of the enterprise, certified by a notary.
4. Confirmation in writing of the absence of changes in the charter documents that the organization provides.
5. Certificate of registration and its copy.
6. Samples of signatures of authorized employees of the organization, print of the seal.
7. A document that confirms the authority of persons having the right to sign.
8. Power of attorney, if the contract is signed by a trustee on behalf of the head.
9. A document confirming the identity of the trustee.
10. Information about the head of the legal entity provided in the form of a bank.
The list of documents may vary; it is necessary to check it with the bank. If you decide to open a deposit, then find out about the conditions for the provision of such services in several banks in order to be able to choose a better offer.
Bank deposit agreement
The conclusion of this contract is based on the personal application of the depositor.Its form is not regulated by law, but it must comply with a number of requirements outlined in the Civil Code of the Russian Federation. A number must be assigned to him, the date of preparation must be indicated, the contract must contain the full name of the credit institution and legal entity, as well as their details. The document is filled in by hand or printed, but it should not contain corrections and erasures. In that section, which deals with the subject of the contract, it is established: the fact that the financial institution was provided with a financial institution, the size of the deposit, the term of the contract, the interest rate, the period for payment of interest, and the date of refund. An additional section of the agreement may provide for the adjustment of payment for the use of borrowed funds in case the interest rate on loans of the Bank of Russia has changed, and in addition, the possibility of changing certain conditions of the agreement that are not contrary to law.
Interest on the contract
The establishment of simple interest on such deposits is considered a traditional practice in Russian banks. At the same time, interest is accrued on the amount of invested funds at the frequency specified in the contract. Compound interest is less commonly used (in this case, interest is accrued on interest). This scheme is called capitalization. This scheme is advisable to apply if the invested funds and interest on them will be paid at the end of the deposit agreement. In the event of termination of the contract ahead of schedule, the bank will recount the interest and the amounts that have been paid as excessive, they will be deducted from the amount invested.