How to choose a contribution to make more profits and fewer problems
Get Rich Tips / / December 19, 2019
How different contributions
by due date
- Urgent. Money placed in the bank for a fixed period. At that time, the bank let them into circulation. Interest on such a contribution higher than indefinite. The financial institution estimates that can dispose of the funds for a specific period. But if you withdraw money before, interest on time deposits generally reduced, with up to negligible values.
- Indefinite. Money from such a contribution can be obtained on request without recalculation of interest. But very little income for them. For the bank, your desire to return the funds akin to a lottery: you can not predict when it arises.
If possible, refill
- With the ability to refill. You add money to the account, and they are joined to the amount on which interest is calculated.
- Without replenishment. Usually it is about term deposits, on which you put a fixed amount.
To work with percent
- With capitalization. Interest accrued on the deposit amount on a monthly or quarterly basis - depending on the conditions of the bank. They end up in it, and in the next month shall be charged on the increased amount. And it increases the profitability of the deposit.
- Without capitalization. Interest is charged on the amount that you put at the opening of the deposit, but not added to it. Gains usually can display and use up to the expiry of the deposit.
By the possibility of partial removal
With some contributions you can at any time withdraw some amount. Most often it is a question of unlimited options.
by currency
Contributions as loans, are in rubles and in foreign currency. And, as in the case of loans, rates on foreign currency options below.
Banks earn on the fact that they take money from the population at a low rate and give him the credit for the high. Now currency mortgages and loans are reluctant to take, so the conditions on such deposits do not offer the most attractive.
More on that note
Deposits of up to 1.4 million rubles are insuredFederal law "On insurance of individual deposits in the Russian Federation" state. Therefore, if you have accumulated more it makes sense to divide the savings into portions so that they do not exceed the maximum insured, and assign them to different banks. The list of banks, deposits are protected, published on website Deposit Insurance Agency.
It should also be excluded from entering the situation in a number of "gray" depositors. In this case, the bank takes money from you, but they are not recorded on its balance sheet and, accordingly, are not insured by the Deposit Insurance Agency. Therefore requires the financial institution a document that you have money.
And, of course, do not trust to banks, which for the first time hear. Check the license, history, financial highlights. Cheerleaders have suspiciously high interest rates on deposits: possible, the bank has established them, because that is not going to return the money.
Why you should consider saving account
Now banks offer open accumulative account, which according to its functions largely duplicates the demand deposit, but offers more flexibility. You can deposit and withdraw money whenever you want. At the minimum balance each month will drip interest are added to the total. Consequently, the cap present. Percentages are also very attractive, even compared with the term deposit.
So consider the cumulative score as an alternative demand deposits.
How profitable to put money at interest
Based on these criteria, we will select the appropriate input for each situation.
situation 1
given: Vasya student completes fifth year in four months. After graduation, he thinks to live in another city. He recently won a grant that will last for movingBut prudent Bob wants to dig more.
Vasya have a clear deadline by which he will need money, and the money he was going to increase, rather than spend. So it's best it is suitable fixed deposit for three months with the possibility of replenishment and interest capitalization.
It is necessary to consider and without replenishment option, as interest thereon may be higher. Additional revenue while Bob will translate into demand deposit or saving account that this amount is also growing, though more slowly.
situation 2
given: Anna sold the apartment and immediately thought about buying a new one. She does not want to lay money just like that. But they may need it at any time, as soon as a good option.
Anne suitable demand deposit, but better - the cumulative score. And the money grow, and to remove them at any time. When the term deposit interest rates higher, but it risks losing income if funds will be needed before the expiration of the contract.
situation 3
given: Peter was tired from work and sold an expensive business. Now he wants to relax a bit. Other sources of income had not, so he is going to live on the interest.
If Peter was able to put together a cool business, but I never learned investHe remains the only fixed-term deposit for a longer period with monthly interest payments. But it is reasonable in this part of the money left on the demand deposits or cumulative score to be able to dispose of them when interest not to be missed.
The best option - to divide the available amount for the portion of 1.2 million and put in different banks on different times, one or more pieces of three months, one or more - for six months, and the rest to invest long-term. When the three months he wants to buy something expensive, but it is in the hands of the necessary sum. And if he did not suffer and remove money before, to lose interest with only 1.2 million. The remaining funds will continue to be based on the account with the full accrual of income.
Your situation
If you intend to save money and know exactly what date you need money, your choice - a deposit with interest capitalization. As for the replenishment, it is necessary to look at the conditions of the Bank. Sometimes it is more profitable to open a deposit without replenishment, and new revenues to save separately. At the same time to withdraw money ahead of time is extremely disadvantageous: income will be minimal. Lower than demand deposits.
If you do not know exactly what you will do with the money and how urgently you need it, consider demand deposits and savings accounts. The percentage is lower than the term deposit, but it will remain, that whatever you do with the money.
see also
- Things to know about the percentage of the loan, not to remain in debt to the bank →
- How to increase the accumulation of 10 strategies with different risk levels →
- Hidden costs: why should we read what is written in small print →