One of the ways to not only save, but also increase your money is to place them on a bank deposit. This, in its way, is a profitable investment that will generate interest income. Read more about how to use the most profitable bank deposits in Yekaterinburg.
Bank deposit agreement
When entrusting your money to a banking institution, you must carefully read the bank deposit agreement. It is mandatory in writing and can be certified by a certificate of deposit or a savings book. These documents must be issued to the contributor. A savings book can be either registered or bearer.
In the first case, it is understood that when the deposit is closed, the money is given exclusively to the person to whom it is issued.
A bearer passbook is not so common and carries certain risks. In this case, anyone who presents it can receive the money. However, if it is lost, the person who found it will receive access to the deposit, and the bank will not be entitled to refuse to pay the deposit. In addition, a deposit certified by a passbook with a bearer is not subject to insurance.
Anonymous opening of a deposit is prohibited by applicable law even if it is executed with a bearer passbook.
Deposit holder rights
The investor has a certain list of rights, such as:
- the right to manage deposits and transfer this opportunity to an authorized person;
- the right to interest that is not taxed;
- the right to deposit insurance in case of revocation of a banking license.
Interest on bank deposits
The amount of accrued interest is regulated by the bank deposit agreement and is established by each bank independently. They can be revised unilaterally without notice to the depositor on demand deposits. And for other types, only an increase in the interest rate is allowed. Interest accrual starts from the day after the actual deposit of funds to the bank account and is valid until the deposit expiration date. Income is paid quarterly. If the depositor has not taken interest on the deposit, then they are capitalized, that is, the amount of funds on the main deposit increases by the amount of accruals.
Types of Bank Deposits
The classic division of profitable bank deposits in Yekaterinburg implies two types of them:
- short-term deposits for up to 6 months;
- long-term deposits drawn up for a period of more than six months.
Each financial institution sets the conditions and additional opportunities for bank deposits independently, and they depend on the bank’s development strategy in this direction. Before deciding on the proposal of a particular bank, it is worth familiarizing yourself with the proposals of its competitors.
Choosing a bank as a reliable financial partner
When placing a deposit in a particular bank, you definitely need to pay attention to a number of characteristics and indicators, because we are talking about the safety of own funds. It is worth carefully and meticulously evaluating:
- volume indicator of the assets of the institution;
- whether the bank is a member of the deposit return guarantee fund;
- the history of the financial structure, its practice of returning funds in times of crisis;
- reviews of other customers;
- the bank’s life and reputation.
Only after receiving answers to these questions, you can begin the process of selecting offers from existing programs for investors.
The choice of the best bank deposit in Yekaterinburg for individuals. of persons
It is worth noting that the most interesting conditions for deposit programs are proposed by the onset of significant dates, such as New Year's holidays, the birthday of the bank, public holidays and others. Under such events, special conditions for deposits are usually developed that will be most beneficial in terms of its profitability.
You should not place all the free money in the bank, because no one is safe from the occurrence of force majeure cases, when a large amount can be quickly needed.
It is important to understand that in case of early termination of a bank deposit in Yekaterinburg, the bank applies penalties in the form of interest rate recalculation towards a decrease. In this case, the additional income from the deposit will be practically equal to zero. It is possible to place a deposit not in one amount, but split into several with different terms.
Having a deposit with the bank, it is important to keep track of the news in the banking sector and monitor economic trends, so that in the event of an impending default you can manage to take your own money.
What is the best place to go?
Of course, there are many banks in Yekaterinburg that provide profitable deposits. It is worth considering in more detail each of them.
- Sovcombank. A deposit called "Maximum Income with Halva" provides an interest rate of 7.80%. You can put money for three years, but the minimum amount should be 50 thousand rubles.
- Russian Agricultural Bank. The "Profitable online" deposit allows you to receive the same interest rate as the previous one. Only the term of the deposit is 4 years. But the plus is that the minimum investment is 3 thousand rubles.
- Russian Agricultural Bank. Golden Premium deposit has the aforementioned rate. Only the minimum amount of 10 million varies. Can be issued for 4 years.
- Russian Agricultural Bank. The “Profitable” deposit already has a slightly lower rate, namely 7.75%. The conditions are the same as in "Profitable online".
- Sovcombank. A contribution called "Prolong the summer with Halva" can be put at 7.70%. The amount is the same as in another deposit of this bank - 50 thousand. But it can be picked up after 120 days.
About the deposit insurance system
The main purpose of the deposit insurance system is to protect the rights of depositors in the event of a default of banking institutions. At its head is the state, which guarantees in this case to pay the owner of the deposit the bulk of it. It is understood that warranties do not apply to:
- bearer deposits;
- funds in trust with a financial institution;
- deposits placed in the form of rare earth and precious metals;
- funds placed by individual entrepreneurs;
- electronic money.
The depositor who placed the deposit automatically becomes a member of the deposit reimbursement system. This does not require additional conclusion of contracts. In the event of an insured event, the amount of compensation is equal to the amount of the placement, but not more than 700 thousand rubles. If the contribution is greater than the threshold amount, then the balance can be received after the completion of the liquidation process and the sale of banking property.
If the depositor has split his savings into several deposits, then the rules for the payment of insurance compensation will apply to each deposit individually. Despite the fact that this system has been functioning for a long time and efficiently, the main criterion that a depositor should be guided by is the bank's reputation, its reliability and stability. After all, it is not only about generating income, but also about the safety of savings.