Tinkoff Bank Deposits: Conditions, Interest, Rates, Description and Reviews

Tinkoff Bank was founded in Russia in 2006 and quickly gained popularity and recognition. Currently, it continues to develop dynamically.

Previously, he provided only loans, but now a new banking product is available to the public: Tinkoff deposits with a wide selection of additional functions required.

Features of the Tinkoff Bank

The main distinguishing feature is the fact of the absence of at least one of its branches or customer service offices.

The work of the bank is carried out via the Internet, and customers have the opportunity to receive the necessary services remotely, missing an entry in the bank branch and waiting in long lines.

The Bank provides customer service and counseling services through a call center that works 24 hours a day, without breaks and weekends. In addition, there is a special Internet banking, with which you can make many financial transactions to manage credit and current accounts. And the website’s online consultant will quickly answer all your questions.

Types of deposits in Tinkoff Bank

Deposits of individuals at Tinkoff Bank do not differ in their diversity: there is only one Smart Deposit deposit program. At the same time, the client has the opportunity to choose the necessary additional options and make the contribution the most convenient for himself. Currency selection, option to withdraw from deposit account part of the funds, replenishment at any convenient time, an increase in the interest rate with an increase in the term of the deposit - these are the factors due to which Tinkoff Bank's deposits are becoming more popular.

Terms of registration

As mentioned above, the client is provided with a “constructor”, from which he makes up the Tinkoff deposit program that is most advantageous for himself.

Deposits of individuals take into account the following important points:

1. Deposit currency. The client has the right to choose the currency in which he would like to place his contribution. Most often, the placement is carried out in national currency (rubles), although there are situations where it is more convenient for the client to open an account in foreign currency. In this case, the system automatically recalculates the interest rate, minimum deposit amount, replenishment amount, and so on.
2. Selection of deposit amount. The client also chooses the amount on his own. The only thing the bank sets is the minimum and maximum possible value. In rubles, these amounts, respectively, amount to 50 thousand and 30 million, in dollars - 1000 and 1 million.
3. Capitalization of the deposit. The client decides for himself whether he needs this function or not. If capitalization is connected, monthly interest is added to the amount of the initial deposit and next month the interest is accrued on a large amount. If capitalization is not connected, the monthly interest on the deposit is transferred to the client’s card account.
4. Early and partial withdrawal of funds. Tinkoff Bank deposits allow early withdrawal of money from a deposit account. However, there are some restrictions: the minimum withdrawal amount is 15,000 rubles ($ 500, 500 euros) and you can withdraw funds from the account no earlier than 2 months (60 days) after signing the contract.
5. Deposit replenishment. There are absolutely no restrictions, and the client can replenish his contribution at a convenient time for him and absolutely any amount.

Tinkoff Bank: interest on deposits

The interest accrued on the deposit depends on two main factors: currency and deposit term. Consider all the possible options.

If the deposit is opened in rubles, depending on the term, the interest rate will be as follows:

• contribution for a period of 3-5 months - 6%;
• contribution for a period of 6-11 months - 7.5%;
• contribution for a period of 12–36 months - 11%.

If the deposit is opened in foreign currency, the interest rate will be:

• deposit term 3-5 months - 1.5%;
• deposit term 6–11 months - 2%;
• deposit period 12–36 months - 4%.

As you can see, the maximum benefits can be achieved by issuing a deposit for a maximum period.

The process of placing a deposit in Tinkoff Bank

To apply for a deposit at Tinkoff Bank, no extra effort is required. In addition, it will take very little time.

So, the sequence of actions will be as follows:

1. Go to the bank’s website, find the Tinkoff Bank's Deposits page and click on the “Open Deposit” button.
2. A window will appear on the screen with the questionnaire that you need to fill in. At the same stage, all necessary deposit parameters are selected: term, amount, currency, and so on.
3. Within two working days, the bank employee will call the client back and arrange a meeting at which he will bring the contract and payment card. On it every month will be accrued interest on the deposit.
4. The client needs to replenish his deposit account in any way convenient for him: bank transfer from card to card, using the self-service terminal, in a branch of a bank.

Tinkoff Bank deposits can be issued only by adult citizens.

Upon expiration, the customer can continue to use the payment card. She will be reissued free of charge every three years.

Reviews on the work of Tinkoff Bank and its deposits

Feedback on deposits at Tinkoff Bank is completely different: some are completely satisfied with the institution in every sense of the word, while others are extremely dissatisfied with its work and do not want to cooperate with it anymore. Fortunately, there are a lot more customers of the first type, which means that the bank is moving in the right direction and its development is progressing.

As for the positive aspects of deposit processing at Tinkoff Bank, customers distinguish the following:

• Convenient registration of a deposit without leaving your home;
• the ability to independently choose the most profitable and convenient type of deposit;
• flexible terms of use allow you to withdraw or accumulate interest, prematurely withdraw or replenish the deposit, etc.
• the courier brings documents and a payment card at a convenient time and place for the client, so there is no need to go alone to the bank branch, wait in line, etc.
• Tinkoff Bank's payment card can continue to be used at the end of the deposit term. Access to Internet banking is also preserved.

Cons in most cases are noted by older people, for whom it is not quite customary to design something using the Internet, and, as we know, Tinkoff Bank has no branches.

Another significant disadvantage for customers is the need to independently control the contribution and close it in time, as there is an automatic extension. Although not all customers like it, some are happy with the possibility of extending the term of the contract without their direct participation. Here, as they say, to each his own.