Banks have raised interest rates on deposits. Is it worth it to give them money?

What's happened

On February 28, the Board of Directors of the Central Bank at an emergency meeting raised the key rate up to 20%The Bank of Russia decided to raise the key rate to 20% per annum / Central Bank. This indicator affects various financial aspects of life. But it is most quickly reflected in interest rates on loans and deposits.

And they really grew up. If we talk about deposits in rubles, then Sberbank offers a rate up to 21%SberVklad / Sberbank per annum, "Alfa-Bank" - up to 20%Alfa-Deposit / Alfa-bank, "Tinkoff" - up to 19.56%Deposits / Tinkoff per annum.

The Central Bank stated in its announcement that key rate raised to "protect citizens' savings from depreciation." But it is obvious that in this way they are also trying to return money to the banking system. In recent days, Russians have been actively withdrawing their savings. Only on February 25, bank customers withdrew almost 1,4In Russia, the volume of cash withdrawn on February 28 amounted to 294.2 billion rubles / TASS

trillion in cash.

Why you should consider savings savings deposits

Bank deposits have always been not a tool for enrichment, but a way to at least partially protect savings from inflation. At home, cash depreciates. The amount in the bank account increases slightly. Although it is highly likely that you will not be able to buy more with it due to the increase in the cost of goods.

Nothing has changed in the situation with higher rates. Getting rich on deposits is unlikely to succeed.

But we can assume a minimum level of price growth in the near future. Therefore, in order not to keep money under the mattress, but to take it to the bank, it seems to make sense. If now we put 100 thousand at 20% per annum with capitalization (that is, interest will be charged on the deposit monthly, and interest will also be charged on this amount in the future), then after 3 months you can take 105 thousand, after a year - 122 thousand. Looks good considering the price increase.

Why it is worth assessing the risks before making a deposit

According to statementsNabiullina said that the Bank of Russia will cope with the current economic situation / TASS representatives of the Central Bank, the agency is doing everything possible to cope with the situation, and the banks "will fulfillStatement by Governor of the Bank of Russia Elvira Nabiullina following the meeting of the Board of Directors of the Bank of Russia on February 28, 2022 / Central Bank all obligations to their customers.

Banks themselves also assure that deposits are not in danger.

And in general, it can be so. You invest money, and then take it back with accrued interest. Keeping savings is a lot.

On the other hand, the situation is unpredictable and the banks themselves cannot be sure what will happen. So, the head of the united company Rusal and En + Group Oleg Deripaska at the economic forum in Krasnoyarsk declared“We take the crisis of 1998 and multiply by three”: Oleg Deripaska’s most striking quotes at the KEF in Krasnoyarsk / NGS24.RU: “We have not yet faced such challenges. In three weeks it will become clear what will happen to the banks. Let's see who will remain from our partners. I think we'll be very surprised how many of them are left. We take the crisis of 1998 and multiply it by three.”

Various resolutions and orders, including those relating to finances, are signed almost daily. If we had a magic ball for answers, it would say: "The future is foggy."

To make a deposit or not depends largely on your belief in the stability of the banking system.

You can rely on the words of different experts. But the human psyche is so arranged that we we believe thosewhose opinion is the same as ours. So it all comes down to faith again. In any case, no specialist can guarantee you anything. Because experts use probabilities in their forecasts. And if they say that something is more likely, it does not mean that it will happen.

Decide for yourself. Weigh the risks, make the calculations. With the result of your actions, in any case, you will be left alone, without specialists.

Things to keep in mind if you decide to make a deposit

Choose your investment carefully

Understand the nuances before handing over your money. Due to the fact that banks are also in an unpredictable situation, they are forced to adapt to the conditions. For example, rates of 20% mainly apply to three-month deposits. As a rule, 2-3 times less will be charged on deposits from the year.

Examine the contract

In general, you should be interested in every clause of the agreement - and always, and not just in complicated situations. But now it is especially important to look for a line about whether the bank can change the rate and under what conditions. If yes, there is a risk now to invest money at 20%, and pick up exactly what was taken.

Make short term deposits

It's not just about the percentage, but also about the ability to control the situation. Deposits with high rates, as a rule, cannot be closed ahead of schedule without a complete loss of interest. By choosing short-term deposits, you allow yourself to change your mind in a few months.

Invest money that you may need soon

If the deposit has to be closed ahead of schedule, then the interest will burn out. Plus, it is not known whether banks will issue cash immediately upon request or whether they will have to be ordered and waited.

Choose insured banks

Up to 1.4 million in the bank account are insured. This means that if he goes bankrupt, the money will still be returned. Therefore, it makes sense to distribute the savings so that even after interest is calculated, they do not exceed this amount. And of course, check in advance if there are banks on the listDIS Participants /Deposit Insurance Agency Deposit insurance agencies.

Remember the tax on deposits

With income on deposits you have to pay tax. Not from all, but only from those that exceed the product of a million times the key rate at the beginning of the year. But on January 1, it was only 8,5%Key rate of the Bank of Russia / Central Bank. That is, if the income on deposits during the year exceeds 85 thousand, 13% will have to be paid from the balance.

Don't Panic

There is a risk of doing something that you will regret, but not only. In troubled times, scammers of all stripes are activated. So if someone offers you to urgently save your money, this is definitely a reason to run - but in the opposite direction, from the assistant.

Once again, you will deal with the consequences of your choice on your own. Therefore, weigh all the risks three times and make decisions based on your position. If everything ends badly, at least you will experience the satisfaction of not betraying yourself. If everything goes well, you will rejoice twice: money and your foresight.