"Citizens! Keep the money in a savings bank! Unless, of course, you have it."
The thief-recidivist Georges Miloslavsky called us to this, who “cleaned up” Anton Shpak’s apartment, the hero of the famous Soviet comedy “Ivan Vasilyevich changes his profession”. So let's try to figure out how to save the Russian citizen and increase their savings. The first and, perhaps, the main question becomes - in what currency to save and why, in fact, do it?
Why choose a foreign currency?
Russia has experienced several financial shocks in recent decades. Unfortunately, history has taught us not to trust the national currency very much. Many people remember the crises when yesterday you could buy a car, and the next morning - a bar of chocolate. And now Russia is going through hard times. The country's population is losing confidence that it will be able to provide the same standard of living to their families. Somewhere the salary is delayed, someone is losing their jobs, someone has a loan that needs to be repaid. Therefore, more and more people are eager to save money, and preferably in foreign currency.
The greatest confidence of Russians traditionally causes the American dollar. People are saving up for an apartment, a car, important major purchases. Many, thinking about the future of their children, open savings accounts. Even retirees try to have small savings in the US currency "just in case." Moreover, currency deposits in banks in Moscow anyone can arrange it.
The euro is a bit behind the dollar in popularity. It demonstrates an enviable stability, despite the great political contradictions within the European Union. Russians are a traveling nation, and the euro is needed to pay current expenses during a vacation or business trip. A long-term investment in euros inspires confidence in many Russians.
Which currency is least affected by the crisis?
Millions of financial analysts are confined to computer monitors daily, hoping to find the answer to this question. The stability of a particular currency depends, first of all, on the economic situation in the country. It is believed that currencies of Norway and Switzerland are the most reliable. But acquiring the Swiss franc and the Norwegian krone in Russia is not so simple. As, in other matters, and open an account in a Swiss bank.
In the future, we will consider the option of accumulation in euros and US dollars more closely. They are the most accessible for our person.
How to save our accumulations and increase?
Money should work. This axiom is familiar to many. At a time when real estate prices are unpredictable, and the ruble is in a “peak”, one of the best options is considered a foreign currency deposit in the bank. This method is convenient and fairly easy to use. And most importantly - you can sleep peacefully. After all, funds are under reliable protection and even bring a small income.
Moscow's banking services market offers a wide range of foreign currency deposit programs. Interest rates in Moscow range from 1% to 4%. Of course, the yield on deposits in foreign currency is usually lower than the rates on ruble deposits. But there is a guarantee that money will not depreciate and will not fall in price. You can open a deposit in US dollars, euros, Japanese yens, Swiss francs, pounds sterling, as well as Canadian dollars. Currency deposits in Moscow can be issued at many financial institutions.
What does Sberbank offer?
The most popular at this financial institution is the "Multicurrency" deposit. Everyone can transfer savings from one currency to another without any problems. The most profitable deposit agreements are annual. Usually, banks offer the highest percentage on them. Highly profitable investments are very popular today. Currency deposits can be issued by every adult citizen.
By bringing currency to the bank, the depositor loses twice. The first time is when exchanging rubles for currency at the exchange office and then again when the bank accepts the currency in ruble terms. The contribution is also withdrawn by the equivalent in rubles. Therefore, it is more profitable to carry out such operations as rarely as possible so as not to lose on conversion. The annual interval is a period that minimizes risks. The customer is not afraid of a double loss on the difference between the purchase and sale price. It is no coincidence that many choose foreign currency deposits at Sberbank.
What other proposals are there in the banks of Moscow?
What else offers us the largest bank in Russia and Europe - Sberbank? According to statistics, 70% of the population of the Russian Federation are clients of this financial institution. Foreign currency deposits in Sberbank are very attractive for their interest rates. For example, the “Happy Year” contribution will bring considerable passive profit. If you entrust your money to the bank for 10 months, the income in US dollars will be from 1.80% to 2.60% per annum. When you draw up an agreement for 18 months, the profit will be from 2.1% to 3.1%. A contribution in euros for 10 months will bring income in the amount of 1.3% to 1.7%, for 18 months - from 1.6% to 2%.
It should be noted that, as a rule, annual deposits do not provide for the possibility of replenishment. That is, we must entrust the money to the bank today, and after a year (or 10 months) take the entire amount with accrued interest. Early termination of the contract, as a rule, carries penalties and loss of interest.
Deposit "Replenish"
Income under this program is possible up to 2.22% for accounts in US dollars and 1.17% for accounts in euros. Under the terms of this offer, you can withdraw interest every month. It is convenient for business owners. Interest can also be "capitalized". That is, you do not take interest, they are added to the amount of your deposit, and they, in turn, also have interest. Such a foreign currency deposit for individuals is quite profitable.
If there is a possibility and need to replenish the deposit on a monthly basis, this requirement also applies to the conditions of the "Replenish" deposit. Under the terms of this deposit, monthly replenishment is possible. But the percentage will be slightly lower: up to 2.01% per annum on accounts in dollars and up to 1.26% on accounts in euros.
What does VTB Bank offer?
This financial institution can also help with the issue of accumulation. The "Profitable" deposit will bring 0.9-2.2% in dollars. The amount of income in this case depends on the initial amount and term of the deposit. Even a three-month contribution is possible. Interest is paid at the end of the contract. The Savings deposit will bring up to 2% of income with the ability to replenish the account monthly and capitalize interest.
A financial institution has been operating steadily for many years. It is no coincidence that thousands of investors come here every year. In circulation are quite large amounts.
Gazprombank
One of the leaders in the banking services market offers its customers (and there are more than 3,000,000 in Russia) profitable foreign currency deposits. When opening any term deposit, a bank card is issued free of charge, which you can use when making purchases and settlements. The most interesting is the proposal for the "Perspective" deposit. Interest on this program reaches 2.05% in dollars and 1.35% in euros.
You can earn much more if you conclude a long-term contract with a financial institution. Interest capitalization significantly increases profits. In addition, a loyalty program is provided for regular customers.
How to choose a financial institution?
As we can see, interest rates in different banks do not differ too much. Therefore, one of the important issues also becomes the issue of choosing the bank itself. Which bank to choose? How to trust him with your money and sleep peacefully? This issue should be approached thoroughly. What should I look for when choosing? Initially, you need to study the ratings of banks. This information is available to all comers.
Ratings are compiled on the basis of many indicators and depend on the feedback of customers of a particular bank and its financial stability. Many financial institutions insure deposits. Thus, it is possible to secure in the event of a crisis. But it is worth keeping in mind that insurance reimburses deposits not exceeding 700 thousand rubles.
It will also be worthwhile to think about placing deposits with different banks. No wonder they say that it is not necessary to put all the eggs in one basket. In addition, it is necessary to inquire about the conditions for early termination of the contract. It is worth paying attention to the quality of service for your deposit.
What else to look for?
It is worth seeing how soon the bank employees answer questions, how quickly and professionally they are ready to help in solving a particular problem. It is also necessary to take into account the location of bank branches. Nevertheless, it is better if there is a branch and self-service ATMs of a financial institution near the house or work.
And most importantly - you need to carefully read the contract! All that is written in small letters - especially. Often, important information is indicated in small print and spans several pages. Do not be afraid to ask the bank manager questions of interest. The safety of savings depends on it!
