Which of the contributions to choose

Today, banks offer their customers a wide range of deposits, which differ in interest rates, terms of action, the presence of additional options to increase their attractiveness. Not only the reliability of the deposit, but also the convenience of using it depends on the conditions specified in the banking agreement. Which of the contributions to choose, so that its parameters meet all the requirements? In order to correctly answer this question, it is necessary to determine which of the conditions of the deposit is the most significant for you.

Interest rate


The yield of a deposit depends on its size. The upper limit of interest rates on deposits in Russian banks is limited to a number of regulatory documents of the Central Bank of the Russian Federation; therefore, the majority of domestic credit institutions today offer deposits to citizens at rates recommended by the regulator. In addition, with interest income exceeding the ruble deposits refinancing rate by 5 points, and foreign exchange by 9%, you will have to pay 30% personal income tax.This reduces the overall return on investment and makes such deposits less attractive.

Deposit currency


Domestic banks today accept deposits in rubles, dollars and euros from citizens. Open deposits in other currencies is quite difficult. The rates offered by banks are:
• from 8 to 12% per annum - in rubles;
• from 3 to 6% per annum - in foreign currency.
Whether these percentages are acceptable, everyone decides on his own. The official inflation rate of 7% covers ruble deposits, so it is more profitable to open them than to simply keep your savings at home. As for foreign currency deposits, there is always a chance to make money on exchange differences if the dollar or the euro go up against the ruble. This will make foreign currency deposits more profitable.

Deposit term


This clause of the agreement regulates the duration of the funds on the deposit. And almost always the rule applies: the longer the term of the contract, the higher the percentage of the deposit. Early withdrawal of a deposit entails a loss of interest, so you will have to decide how quickly the funds you plan to place on the deposit may be needed.Terms of deposits vary widely enough: you can place temporarily free money for a period of 30 days to 5 years.

Deposit amount


Of course, first of all it depends on your financial capabilities, but when placing money for a contribution, you should remember 2 basic rules:
• the larger the amount of the deposit, the greater the percentage of it offered by the bank;
• the state guarantees the repayment of deposits of up to 700 thousand rubles; savings in excess of this amount, in the event of a revocation of a license from a bank, it will be very difficult to return.
By choosing the most balanced deposit in terms of conditions, you can save your savings and get a good profit from placing them on the deposit.


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