Life hack: how to catch favorable terms on deposits right now
Miscellaneous / / June 06, 2022
Bank deposits are considered a conservative instrument. The yield is not very high, but you don’t need to do anything either: put the money in and forget it. But with high interest rates on deposits, it will be possible to earn no less on deposits than on buying securities. If in May 2021 the maximum deposit rate wasDynamics of the maximum interest rate (for deposits in Russian rubles) of ten credit institutions attracting the largest volume of deposits from individuals / Bank of Russia about 4.9%, now you can find deposits at both 10 and 12.5%. At the same time, profitability is guaranteed. Unlike stocks, cryptocurrencies or NFTs, where no one can promise anything, with a deposit you will receive exactly as much as its conditions stipulate. The Deposit Insurance Agency monitors the safety of funds: if something happens to the bank, you will returnFederal Law No. 177-FZ of December 23, 2003 “On Insurance of Deposits in Banks of the Russian Federation”, article 11. The amount of compensation for deposits money.
Here are the main questions to answer before opening a deposit:
- When do you want to get your money back? Not only the term of the deposit depends on this, but also the potential profitability. Interest on short-term deposits is higher than on "long" deposits. And the risk that free money will be sharply needed within a few months is lower than in the horizon of the year.
- How much can you actually earn? The same interest rate can be valid for the entire term of the deposit or change - for example, for the first three months it will be 12%, and then it will drop to 10%. Check if the conditions of the deposit provide for the capitalization of interest. With it, interest will be added to the amount that you entrusted to the bank. As the contribution grows, so does the accrued interest.
- Will you replenish the deposit? If you already have savings, open a deposit without replenishment and withdrawal - the interest on such deposits is usually higher. And if you want to save gradually, a replenished deposit will do, but the rate will be lower.
- In what currency are you going to open a deposit? Most often, deposits are in Russian rubles, dollars or euros. Rates on foreign currency deposits are much lower than on ruble deposits, and recently even large banks have stopped opening them.
Is it possible to earn more on deposits
Yes! To do this, distribute the savings between deposits for a different period. If you now open deposits for three, six and nine months, you will be able to fix high rates for all terms. If you open one short-term deposit at the maximum percentage, then in a few months, when the time comes to transfer money, there will be no such rates on the market. As deposits close, you will regularly receive free money in your hands. They can be spent or sent to a new deposit.
On the platform "financial services» it is convenient to compare offers of banks from all over the country, find favorable rates and open a deposit online. For the first deposit, the user receives a bonus from the site - up to 5% per annum to the bank rate.
«financial services»was created by the Moscow Exchange on the initiative of the Bank of Russia. This is a financial services marketplace where it is easy to collect a profitable and reliable portfolio of deposits without leaving home. You can manage deposits and monitor how the deposit amount grows in your personal account.
Assemble a portfolio of deposits