Short-term Deposit at high interest rates. Where the most favorable conditions?

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2018-03-19 06:26:17

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Bank deposits are a way to save your money from the debilitating influence of inflation as well as from thieves who can get under the pillow and steal deferred nest egg.

Almost all want to place their contribution at high interest rates, but how to do it?

The different benefits the Bank is ready and different ways to pay customers

It's No secret that the basic principle of operation of the Bank is to earn more money than you spend. The main ways of banking there are two earnings is:

  • Settlement and cash servicing (further - SCS);

  • Lending.

If RKO Bank, in principle, do not need additional financial resources, in order to lend, they need to have the cash that is issued to clients.

contributions under high percent

The Main source of attraction in business financial resources are the deposits. And despite the different interest rates, they are all similar, but of course have small differences.

Deposit Interest rate - a way to attract customers

In order to attract the maximum amount of funds as soon as possible, banks offer to customers to place a Deposit at high interest rates. And of course, that the majority of people will choose those financial institutions that establish the highest rates.

After all, if the corner Bank offers more favorable conditions, why not go there to register a Deposit?

Financial advisors can, of course, start to talk about the fact that you don't need to look at the interest rate, and it is necessary to examine the rating of the Bank, his connections, reliability and financial stability, especially if we talk about foreign currency deposits at high interest rates.

foreign currency deposits at high interest rates

This has its own truth and some lies. In fact, these words they're trying to play on your desire to stay with the nose and not lose your money.

This, incidentally, is a pretty effective way, which allows some banks to have a broad base of customers by not offering any of them to place a Deposit at high interest rates.

The highest Deposit rate

Frankly, since 2009 most people have learned not to trust their money to banks that then “burst” as bubbles. But little by little, confidence in banks is restored, although the current jump of the currency raised concerns. But the former foreign currency deposits at high interest rates, of course, can not be found.

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If you look at the banking market, we can see certain trends that are firmly established in the Russian Federation. Let's look at them.

Certainly, the Bank Bank the strife, and all its personal conduct policy on Deposit programs, offering a contribution at high interest rates. Despite the potential for substantial differences in interest rates on deposits, the difference of Deposit and credit conditions are basically the same.

What is the difference between the average interest rate on deposits and loans, most financial institutions of the Russian Federation is on the same level.

What are the contributions it is better to choose to get maximum benefit?

Unfortunately, current Deposit conditions, even Bank deposits at high interest rates, really don't do much to earn their money. This is clearly understood by Bank customers who prefer to open deposits in rubles in the hope of a higher rate than foreign currency.

Bank deposits at high interest rates

Due to the fact that the ruble has fallen dramatically against the dollar, the actual capital of the investors has depreciated by almost two times. Meanwhile, at the end of the period Bank deposits at high interest rates will bring no more than 13% of revenue. Even if not to take into account inflation. And those who were able to experience risk and to place a Deposit in dollars, on the contrary, had won.

Comparing interest rates on deposits offered by banks in Russia to the level of European countries, we can see that overseas banks are willing to pay for monetary resources much less. Accordingly, the size of the credit premium is also much lower than the terms offered in the Russian market of financial services.

Criteria to which you should pay attention when choosing the type of Deposit account

In order to decide how to most profitable to place money in a Bank should consider the following points:

  • Interest rates;

  • Time of Deposit;

  • Termination of agreement obligations of the parties;

  • The reputation of the financial institution;

  • Loyalty program.

Let's Understand them in detail.

Terms of the contribution should not be misleading

In search of the highest interest rates it is easy to become a victim of fraud. If the level of Deposit interest is clearly different from the average conditions, it should alert.

short-term deposits at high interest rates

For example, this may mean that the Bank is critically short of cash. This position may allow the banking institution to quick bankruptcy. After all, higher interest rates on deposits, automatically need to increase fees and interest on loans. And this is the risk that the customers may turn away from the Bank.

Search for deposits at high interest rates for 6 months? Please read the following information

It Often happens that the highest rates are found in deposits that are placed for 9-12 months in national currency. In addition, an important factor is the conditions of withdrawal of interest and Deposit.

If you specify the Bank information that you will not withdraw contributions early, you will be able to rely on offers with more favorable terms. Although there are various programs for fast attraction of the money supply if the Bank does not have enough working capital.

In such cases, financial institutions offer short-term deposits at high interest rates with maturity from 1 to 3 months. But they are the hardest to earn. It's just like what you offer as much as 15%, but it is not for the period of the contract term (which are money), and for the entire year. So, when considering short-term deposits at high interest rates, the proposed level of share interest for the term of the Deposit agreement.

the deposits for the month at high interest rates

Also worth noting is a pattern - the more a banking institution, the lower the Deposit rate it can afford. Yes, on the street you can see some unknown Bank offers 15, 17, or even 20% per annum.

Should you believe that you will get your money back? It is very likely that this small financial agent will burst in 3-4 months, and your money will be someone in the pocket, but not you. Even if you want to place the deposits for the month at high interest rates, nobody will give a guarantee that any such financial institution will return the money.

At what level are today Deposit offers?

Interest Rates can change daily, since they directly depend on the policy of the Bank and the operating situation on the market of financial services.

If you're going to the banks, on average, you will be offered:

  • Term deposits in roubles - from 6.0% to 10.0%;

  • For the same deposits, but in US dollars - not more than 3%;

  • Deposits with an unlimited term of validity - not more than 2%, if you place in rubles, and even lower in foreign currency.

You Can compare these figures with the average level of inflation in Russia since the beginning of 2015 was (the official version) slightly more than 10.5 percent. But if you consider the fact that the ruble has fallen by half, it looks even worse.

deposits at high interest rates for 6 months

Thus, the actual money did not succeed on any kind of Deposit.

Read that sign

There is a sad fact that of all customers, the contract read no more than 10%. A distinctive category is made up of lawyers who carefully read every word, trying to find any pitfalls.

Often in contracts on deposits in rubles at high interest rates, as well as in any other, may be prescribed non-transparent conditions, which come with pitfalls. For example, you are interested high interest rate which is several points higher than other banks.

deposits in rubles at high interest rates

In the agreement, such Bank may be prescribed payment of fee when placing or removing of the Deposit. Or can be specified penalties for early withdrawal or something like that.

...

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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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