Short-term contribution to high interest. Where are the most favorable conditions?
Bank deposits are a way to save your money from the harmful effects of inflation, as well as from thieves who can get under the pillow and steal a deferred nest egg.
And almost everyone wants to place their deposit at high interest, but how to do it?
For different benefits, the bank is ready and in different ways to pay customers
It is no secret that the basic principle of a bank is to earn more money than to spend. There are two main ways of bank earnings:
settlement and cash services (hereinafter - CSC);
lending.
If, in principle, the Bank does not need additional financial resources, then in order to lend, it needs to have funds that are issued to customers.
The main source of attraction in the business of financial resources are deposits. And even despite the different interest rates, they are all similar to each other, but, of course, they have small differences.
Deposit interest rate - a way to attract customers
In order to attract the maximum amountcash in the shortest possible time, banks offer customers to place deposits at high interest rates. And naturally, the majority of people will choose exactly those financial institutions that set the highest rates.
After all, if around the corner the bank offers more favorable conditions, then why not go there to make a deposit?
Financial advisers can, of course, starttalk about the fact that you do not need to look at the interest rate, but you need to study the rating of the bank, its connections, reliability and financial stability, especially if it is said about foreign currency deposits at a high percentage.
This has its share of truth and a certain part of the lie. In fact, with these words they are trying to play on your desire not to stay with your nose and not lose your money.
This, by the way, is a rather effective way, which allows some banks to have a wide customer base, without offering any of them to place deposits at high interest rates.
The highest deposit rate
Honestly, since 2009 most peoplelearned not to trust their money to banks, which then "burst" like bubbles. But little by little, confidence in banks is recovering, although current currency leaps make you worry. But the old currency deposits at a high percentage, of course, no longer find.
If we analyze the banking services market, we can notice certain trends that have firmly entrenched in the Russian Federation. Let's look at them.
Of course, the bank is different, and everyone leads their ownpersonal policy on deposit programs, offering deposits at high interest rates. Despite the possible significant differences in interest rates on deposits, the difference in credit and deposit conditions is basically the same.
That is, the difference between the average rate on deposits and loans in most financial institutions of the Russian Federation is at the same level.
Which deposits are best to choose in order to get the maximum benefit?
Unfortunately, current deposit conditions, evenbank deposits at a high percentage, do not really make money on their money. The clients of banks, who preferred to open deposits in rubles in the hope of a higher rate than in foreign currency, understood this very clearly.
Due to the fact that the ruble fell heavily in relation todollar, the actual capital of investors depreciated almost doubled. In the meantime, at the end of the term, high-interest bank deposits will bring no more than 13% of income. This is even if you do not take into account inflation. And those who could feel the risk and place the deposit in dollars, on the contrary, won.
Comparing the interest rates on deposits thatoffer banks in the Russian Federation with the level of European countries, you can see that banks abroad are willing to pay for monetary resources much less. Accordingly, the size of the credit premium is also much lower than in the conditions offered on the Russian financial services market.
Criteria to which you should pay attention when choosing a type of deposit account
In order to determine how to place the money in the bank as profitably as possible, it is worth considering the following points:
interest rate;
term of the deposit;
conditions of termination of the contract, the obligations of the parties;
reputation of a financial institution;
loyalty programs.
We will understand them in more detail.
Deposit terms should not be misleading.
In search of the highest interest rate, it is easy to become a victim of fraud. If the level of deposit interest is clearly different from the average market conditions, then this should immediately be alarming.
For example, this may mean that the cancritically short of cash. Such a position can lead a banking institution to a rapid bankruptcy. After all, increasing the rates on deposits, you automatically need to increase commissions and interest on loans. And it already threatens that clients can turn away from the bank.
Looking for a high interest rate for 6 months? Read the following information.
Often, the highest rates are observed in deposits that are placed for 9-12 months in national currency. In addition, an important factor is the conditions for withdrawing interest and the body of the deposit.
If you give the bank information that is notIf you withdraw your deposit ahead of time, you can count on offers with more favorable conditions. Although there are various programs for the rapid attraction of money, if the bank does not have enough working capital.
In such cases, financial institutions offershort-term deposits at high interest rates with a maturity of 1 to 3 months. But they are the hardest to earn. It only looks that you are offered as much as 15%, but this is not for the period of the contract (the period for which the money is placed), but for the whole year. So, considering short-term deposits at high interest rates, divide the proposed interest rate by the term of the deposit agreement.
Also worth noting one pattern - thanthe more a banking institution, the lower the deposit rate it can afford. Yes, on the street you can see how some unknown bank offers 15, 17, or even 20% per annum.
Should I believe that your money will be returned to you? It is very likely that this small financial agent will burst in 3-4 months, and your money will be in someone’s pocket, but not in you. Even if you want to place deposits for a month at a high interest rate, no one will give you a guarantee that any such financial institution will return the money to you.
At what level are the deposit offers today?
The rates can be changed daily, as they directly depend on the policy of the bank and the operating situation on the financial services market.
If you go to the banks today, then on average they will offer you:
term deposits in rubles - from 6.0% to 10.0%;
for the same deposits, but in US dollars - no more than 3%;
deposits with an unlimited period of validity - no more than 2%, if placed in rubles and even lower in foreign currency.
You can compare these numbers with the averageinflation in Russia, which since the beginning of 2015 amounted to (according to the official version) a little over 10.5 percent. And if we take into account the fact that the ruble exchange rate has fallen by half, everything looks even worse.
Thus, the real earn will not work on any type of contribution.
Read what you sign
There is a sad fact that, of all customers,contract read no more than 10%. A distinctive category is lawyers, who carefully read into every word, trying to find any tricks.
Often in contracts for deposits in rubles under highpercentage, as well as in any other, can be spelled out opaque conditions that come with pitfalls. For example, you are interested in a high interest rate, which is a few points higher than in other banks.
The contract at such a bank can be spelled out the payment of commission when placing or withdrawing a deposit. Or penalties for early withdrawal or something similar may be indicated.
