What are deposits of individuals. Types of bank deposits. Early closure of the deposit

Hello! In this article we will talk about the features of deposits.

Today you will learn:

1. What is the difference between the concepts of “deposit” and “contribution”;
2. What types of deposits are there and what is needed to open a deposit;
3. What does the annual deposit rate depend on?
4. In what cases do you need to pay tax on deposit income?

Deposit and contribution - are they the same thing?

The concept is well known to many. This is the usual way. You take your savings to the bank, which will issue them after a while with a small increase. Although, the larger the deposit amount, the more you can get from it.

Where does the bank get money from to pay interest to the client? Everything is very simple. The banking organization gives your money to other clients as loans at high interest rates.

Also, a banking organization places funds on, buying other companies or government bonds. The bank uses your funds, they do not lie idle. He pays interest for managing your funds.

There is such a thing as a deposit. Many people believe that the contribution is equivalent to it. In a general sense, this is the correct line of thinking. When you come to the bank, you will be asked to deposit the amount as a deposit, and it will be listed as such according to the documents.

However, there is a difference between the concepts of deposit and deposit that is insignificant for an ordinary depositor. The first word is used if you brought money to the bank.

Deposit – These are not only assets in monetary terms, but also securities, metal and even real estate. In other words, a deposit is a broader concept that includes various objects for savings. In our article we will use the concept of deposit and deposit in an equivalent sense.

Types of deposits

Every year brings something new to the banking industry. The deposit is no exception. New forms and different options for depositors allow you to choose a deposit according to your individual needs.

All deposits are divided into two large groups:

• Poste restante. This type of investment has no time frame. You deposit assets for any period. The rate on such a deposit is at the lowest level: as a rule, it does not exceed 1% at best. A deposit does not carry the meaning of accumulation; its main purpose is to keep funds in a safe place until the moment when they are needed. They may be needed tomorrow or in a year. For the bank, such deposits carry a high risk, since the use of funds from them in circulation is limited. In this regard, deposit rates are minimal;
• Urgent. The deposit amount is paid for a certain period, which is specified in the banking agreement. These types of savings have high interest rates. They depend on the placement period and amount. Time deposits are the “bread” of any large bank, without which it would not be able to exist normally. You can terminate the term deposit agreement at any time (and much earlier than the expiration date), however, interest in this case will not be saved.

In turn, time deposits are usually divided into three large groups:

• Short term. Such deposits are opened for a maximum of one year. Typically, deposits in banks are made for 30, 92, 182 and 365 days. This is the best option for those who deposit funds with the bank;
• Medium term. The period varies from one to three years. For a bank, this is the most reliable way to receive client assets that can be used in circulation and make a profit. However, such a deposit is not always profitable for investors, since rates may be lower than medium-term investments;
• Long-term. The storage period for funds is over three years. Usually it does not exceed five, but sometimes it drags on. It all depends on the assets and the scheme of working with the deposit. If we are talking about large objects, then investing them for a short period of time does not make sense. But it is unprofitable to store funds for such temporary periods: inflation will have a detrimental effect and the result from the placement of funds can hardly be called positive.

Opening a deposit

Before opening a deposit, you should analyze the conditions offered by banks in your city.

The features of placing funds are different everywhere: in some places there are higher interest rates and long terms, and in others there are low interest rates, but monthly interest accrual is allowed on a bank card.

For deposit purposes, choose only a large bank that has a developed network and experience in various banking operations. You are placing your own money, which must be in a reliable organization.

Do not forget that the adopted deposit insurance system in our country allows the return of deposits to individuals in an amount not exceeding 1,400,000 rubles. This will happen if the Central Bank revokes the bank’s license for non-compliance of its activities with accepted banking standards.

It is advisable to place large amounts in several banks. This way you will protect yourself from possible losses. If a large amount is placed in the account of one bank that has ceased to function, then funds over 1,400,000 can be returned through the judicial authorities.

Take into account such a feature as capitalization. The essence of capitalization is that interest is accrued on the initial deposit amount, taking into account interest for each month, six months, etc. (depending on the terms of the deposit).

Such a “surcharge” is not always beneficial. Deposits with capitalization have a lower rate, which ultimately makes the profit from them equal to that received from a regular deposit with an average interest rate.

Instructions for those who open a deposit

If you are going to open a deposit, then you have two ways to do this:

• Contact the bank directly;
• Create an account online.

Let's look at the sequence of actions for the first case. Many people still do not trust the Internet, especially older people. Opening a deposit in a bank is also suitable for pensioners.

Several steps will be required:

• Choose a suitable bank. Based not only on the place of residence, but also on profitable deposits - you can first get acquainted with the information on the Internet, through television or in newspapers;
• Take your passport, money and go to the bank;
• Check with the operator on site about the relevance of the information you received about rates;
• Fill out the client questionnaire (if you are contacting the bank for the first time). Usually this is done by the operator using your passport, and you can check the correctness of the entered data;
• Tell the specialist the name of the selected deposit;
• Transfer the amount (you will be given a receipt order to credit funds to your account);
• Sign the application to open a deposit. One copy remains for you. Save it for the duration of the deposit. This statement is an agreement that specifies the terms of the deposit.

Only those persons who already have an open account with a bank can open a deposit via the Internet. For example, you receive a card or pay a loan.

To conclude a deposit agreement online, follow these steps:

• Connect to your personal account service. You will be given a password and login for Internet banking, in which you will be able to perform various operations on existing accounts and open new ones;
• Place the amount you plan to deposit into your main account (salary or other). This is necessary for further transfer of funds to the deposit;
• Select opening a deposit in the Internet banking functions;
• Choose the most favorable tariff for yourself;
• After you click on the button to open a deposit, documents will appear in front of you that you need to familiarize yourself with;

Pay maximum attention to this step. The agreement contains important information on the terms of the deposit, in particular about the calculation of interest and the amount of possible profit.

• After reading, check the boxes confirming that you have read the data;
• Then select the account from which the amount will be transferred and indicate the amount itself.

After these steps, a deposit will appear among your accounts. By the way, many banks offer increased interest rates for those who open a deposit “online” or come from another bank after early termination of the deposit.

What affects the deposit interest rate

The interest rate is the most important deposit condition that most depositors focus on.

Few people know that there are two types of bets:

• Fixed. Do not change during the entire term of the contract. This is the most common type of bet;
• Floating. The rate may be changed several times during the deposit period. Under such conditions, deposits are opened quite rarely. Usually, an increased tariff is set for the first months, and then the percentage decreases. This is not beneficial for all clients. In addition, it will be possible to terminate the contract during the high rate only with a loss of interest.

To know what rate is set for the deposit you have chosen, carefully read the deposit agreement. This information must be indicated there. The conditions for changing interest during the validity of the deposit are also described here.

The interest rate depends on many factors:

• Deposit amounts;
• Duration of placement of funds;
• Specific deposit conditions (possibility of replenishment, partial withdrawal);
• Deposit currencies;
• Client categories (pensioner, salary client, etc.);
• The policies of the bank itself.

It is important to understand that the bank does not set the rate on its own. This action is under the control of the Central Bank of the Russian Federation. The terms of deposits depend on the refinancing rate he accepts. From May 2, 2017, it is equal to 9.25%. The refinancing rate means the rate at which the central bank issues loans to commercial banks.

Taxes and deposits

The interest received as a result of placing a deposit is your profit. And as you know, any income in our country is subject to taxes.

In the situation with deposits in cash equivalent, taxes are paid if:

• The rate exceeded 9%. No bank will offer such interest, and therefore investors who placed funds, for example, in dollars, can sleep peacefully. If the mark on deposits ever exceeds 9%, then you will have to pay 35% of the difference between the actual profit and what would have been obtained at a rate of 9%. This amount of tax is payable by residents. If you are not one, then you will need to say goodbye to 30% of your income;
• The rate on deposits in rubles exceeded 15%. The tax amount here is the same as in foreign currency. A rate of 15% is the sum of the Central Bank key rate and 5%. Since 2016, a single tariff has been established at rates of 10%. If this indicator increases by more than 5 points, then the tax must be paid. In this case, the bank assumes all responsibility for making the obligatory payment to the budget. You do not need to visit the tax office. At the end of the deposit period, the bank will issue the amount including tax.

It is important to understand that you will pay taxes only if you close the deposit and withdraw the funds. If your deposit is open, then no taxes need to be paid into the budget.

The same applies to contract extensions. If the terms of the deposit provide that upon completion it is automatically extended for a new term, then taxes are also not paid. In this case, in fact, you do not receive any income, and therefore there is nothing to make a payment to the tax authority.

In this article I will tell you, what does deposit mean?, what is a bank deposit. In the article you will learn what a bank deposit is, we will reveal its characteristics, and we will highlight the main things you need to know about deposits. Let us pay attention to the topic of interest rates on deposits. Let's look at a few examples of banking marketing techniques. After all, each of you will use bank deposits and make cash investments into bank accounts.

Increasing financial literacy, you need to know how one bank deposit rate differs from another. What is the difference between the selected bank deposit and the existing ones.

In previous articles we raised the topic and. What is a bank deposit with interest Each of us knows how to use it. And when cooperating with banks, you will encounter terminology that you need to understand.

The times when banks only stored money are a thing of the past. Previously, you didn’t have to think about which deposit to choose, in which bank - they knew one and it was state-owned.

Today there are hundreds of banks in the country, built as commercial organizations, which means they are worried about profits. First of all, our own, and not about protecting our money from burglars. They have dozens of offers for bank deposits. There is its own line of products and it is important to understand the features. And without understanding the terms and meanings, it will not be easy to do this, and confusion may arise.

When using the services of banks, we carry money to get our benefit. In addition to keeping them in a safe place, we want them to grow and multiply and be protected from inflation.

So, the bank and I have common goals - to get benefits, profits. The possibilities for handling money are different.

By accumulating depositors' money in deposit accounts, the bank operates it on the financial market, puts it into circulation and makes a profit. By lending to those who need money - businesses, people - at a higher interest rate than they took from you.

They are interested in attracting money to deposit accounts from individuals, you and me, by opening deposits at interest.

The bank itself lives on the difference between the interest promised to you and the interest given to others. If you misunderstand some concepts, you make mistakes.

For example, if you fail to renew a bank deposit agreement in a timely manner, you lose interest on the deposit.

What does deposit mean?

What is a deposit - it is valuables, money, securities, an item given for storage and subject to return to the owner or his representative, with payment of the agreed storage conditions, interest established according to the agreements.

Your funds are stored in a special deposit account, opened precisely for the purposes that you stipulate in the agreement.

What does it mean to make a deposit? This means transferring valuables for safekeeping to any organization that promises to return them to you as agreed.

For example, you can invest in customs, courts, auctions, and so on.

Since we are considering banking services, we most often transfer money to banks for safekeeping. And then it will be a cash deposit in the bank.

What is a cash deposit in a bank?

A modern bank offers many different services: we can use services to pay utility bills, take out a loan, exchange currency, rent a safe deposit box, and there are many other opportunities for cooperation with it.

When approaching a bank to open a deposit on favorable terms, you may hear the following expression from a bank employee: cash deposit, custody account.

A cash deposit in a bank is a deposit made in money, as opposed to any other deposit, which can be in the form of securities, coins, metal bills.

The main differences between a deposit and a deposit

The concept of deposit is broader than the concept of deposit.
For example, you can deposit money into a bank and take out a bearer savings certificate.
This will be a security that certifies the amount of the deposit that you made to the bank, determines your rights to it or the rights of the person to whom you give the certificate. Upon expiration of the term, you or your bearer will be able to receive money and interest on it at any branch of your bank.

But, out of habit and actually legally, in our country, these concepts are not divided in the context of a bank. Therefore, if you say deposit, then essentially you mean a cash deposit that you open in a bank.

A bank deposit is money given to a bank for safekeeping, at interest, on the basis of an agreement.
Your money is deposited into a deposit account that is opened specifically for this purpose. Therefore, several accounts are opened at your bank, depending on the product chosen, and not just one.

What are the main functions of a deposit?

A bank deposit is an excellent tool without the risk of saving money, not increasing it. No matter how high the interest rate on a deposit is, it is unlikely to increase your money; rather, it will protect you from inflation.

Our country has a deposit insurance system. If bad times come at your bank, the state will return your money, provided that you kept it in the same bank no more than 1,400,000 rubles. The state does not prohibits opening bank deposits and deposits, storing money in dozens of banks.

And so, we can conclude:

Now you know that the word deposit has a broader and more diverse concept than that of deposit. There are no other differences between them. Now let's figure it out

Today, the number of offers for bank deposits is varied. Attractive names, catchy promises, special conditions confuse already financially illiterate people.

Go to the bank, look at the list of offers, it will be difficult to understand the interest rates on deposits and the difference between one and the other.

They offer you special deposits for... newlyweds, pensioners, some kind of summer or a lot of other options.

I found 7 or 8 offers of bank deposits from Sberbank. But in fact, there were actually two or three working options.

Marketing rules in the banking industry. In order to avoid falling into traps, you need to structure the information for yourself according to the following parameters, then marketing tricks will not lead you astray from the desired choice..

All bank deposits can be divided according to certain criteria that are not difficult to remember:

According to the period of storage of funds:

Deposit on demand- a deposit without specifying a storage period, which is returned upon your first request. Of course, their interest rates are low.

It’s clear, because the bank doesn’t know when you’ll come for them. And he will not risk your money by investing it in his projects. But you can withdraw money when you need it, at least several times a day.

Time deposit- an interest-bearing deposit made for a specified period and withdrawn in full upon expiration of the specified period. Time deposits are less liquid for you than demand savings deposits, but they earn a higher rate of return.

You can withdraw the money earlier; as a rule, banks do not prohibit it, but depending on the terms of the concluded agreement, you may lose either all or part of the interest.

As a rule, a deposit whose terms do not imply any further changes: you cannot replenish the deposit, you cannot withdraw a partial amount, you cannot withdraw the amount at a time other than that specified in your agreement without losing interest, has the highest interest rate.

Since investors accumulate money to achieve certain goals and objectives, the next division will follow this criterion.

By type of task:

1. Savings deposit.

Often, making a large purchase takes time to save up. It’s rare that someone might want to immediately buy an apartment, a car, even diamonds, or pay for their children’s education. It is better to open a separate deposit account and make regular contributions there, thus accumulating the required amount. You can find offers in the bank that have a target name, for example: housing, automobile program.

2. Settlement deposits.

The name itself suggests that you can take money from it and top it up, but you cannot touch the non-reducing balance. There is a type of settlement deposit where you cannot top up.

3. Specialized deposits

Designed for a specific group of clients. For example, pensioners have their pension transferred to a specialized deposit account from which money can be withdrawn, but if there is a balance left, interest is charged on it.

4. Metal contribution.

Here you can store funds not in money, but in precious metals, by purchasing a certain quantity and for a certain amount. Your income will depend on fluctuations in the price of precious metals on the market, on the time when you decide to turn the metal into money.

By type of funds

Rubles– your funds are stored in rubles and interest on them is also accrued in rubles.

Foreign exchange– you choose one of the currencies and save funds in it. Interest is also accrued to you in the currency of your deposit.

Multicurrency– you can store funds in three currencies, on which strong fluctuations in the ruble exchange rate depend: dollar, euro and ruble. All your funds are in a separate deposit account, and your own rate is calculated. But, you use one account and easily convert one currency into another.

During a financial crisis, banks are short of money. When sharp fluctuations in the exchange rate occur, people who are financially illiterate run to the bank and urgently begin to take some action with their money.

For example, mass withdrawals of money from ruble accounts and the purchase of foreign currency begin. Although it is known that it is better not to store money in one currency.

Let's take the example of mortgages and loans.

In pursuit of immediate benefits, when ruble accounts had higher interest rates, many made ruble deposits. And they took out loans and mortgages in a currency where it seemed to them that the interest rate was low.

As a rule, banks take serious measures to maintain their stability and begin to actively attract funds from the population. And then interest rates on deposits increase across a whole range of banking products.

As soon as the wave subsides, interest rates on deposits begin to decline. It is clear that it is better to open a deposit account during a period of high interest rates. The question arises

As a rule, you will be required to have a passport or other document proving your identity.

If you decide to open a special deposit in the name of children or grandchildren, you may also be asked for a birth certificate, and in the case of a pension deposit, an identification card.

For military personnel - a military ID, and if you open a deposit for a large amount, you may be asked for additional documents confirming your income.

Be careful about the terms of the bank deposit agreement

Ask again, if something is not clear, ask to calculate and print out the calculations for you. And it is not at all the right action - not to take contracts from the bank with seals, not to keep them until the end of the term.

Having an agreement, try to know not only your rights, but also banking ones.

Now, when cases of revocation of licenses from banks have become more frequent, in a wave of panic and wanting to withdraw their money, banks are inventing various schemes that at first glance are convenient for you.

For example, you are asked to write an application and transfer money to another bank, or pay in installments.

But, in your agreement with the bank there are no such conditions; most likely it is stated otherwise that partial withdrawal of the deposit is not allowed. And then, you may lose your rights to the terms of the deposit and insurance guarantees.

Imagine the situation: the bank’s license is revoked, but your money has not yet been transferred to another bank. The old contract will no longer work, and your name may not be among the insured. You automatically move to third party lenders, to the end of the line of people wanting to receive money.

The same thing with cash - you took part of the amount, you may lose the right to accrue interest for partial withdrawal of money on the deposit. You will receive the remaining funds, but the payment of interest on the deposit will remain in question.

In any situation, adhere to the terms of the agreement and demand compliance with it by the bank. This is what contracts are concluded for.

Don’t panic in case of any emergency, stay calm, you will definitely receive the money through the deposit insurance agency.

Know your rights and do not neglect documents and reading the terms of the contract. In banking, papers are never superfluous.

If we reveal the meaning of this word using a translation from Latin, then a deposit is the storage of a specific thing. In the modern concept, such an object must necessarily be a value: cash or securities. One of the most common types of deposit is a deposit, hence the name “deposit”.

Deposits can be placed in the form of investments in banking institutions and commercial organizations. Depositors (investors) are both ordinary citizens and enterprises.

The main characteristics of any deposit are:

• It must return to its owner and this right must be guaranteed by contract.
• During the placement of a deposit, its owner must necessarily receive benefits in the form of interest accrual on the use of valuables.

The legislation of the Russian Federation considers all deposits under the guise of deposits, therefore the adopted laws and regulations use this name and decide:

Deposit (or deposit)– securities, funds, in foreign or national currency, placed for the purpose of maintaining or making a profit. At the first request of the depositor, the deposit must be returned in accordance with the concluded agreement.

Only Russian banks that have a license for this type of activity and participate in the all-Russian deposit insurance program have the right to accept deposits for storage.

Therefore, only banking institutions can guarantee the return of investments and timely implementation of agreements. Partnerships with non-banking institutions are considered quite risky; in this case, no one can fully guarantee the return of funds to the investor.

A sum of money or deposit transferred to a bank account is considered a financial investment. When placed, these investments are reflected by postings in their original amount, which is equal to the amount of funds credited to the deposit account.

All funds that were placed for safekeeping in the form of a deposit can be displayed on the debit side of the following accounts:

1. No. 55, special bank accounts;
2. No., deposit accounts;
3. No. 58, deposit investments.

Accounting for interest on deposits in transactions

Interest on the deposit, which is accrued every month, is included in the section of other income of the organization. They must also be displayed in accounting on a monthly basis until the term of the banking agreement expires. According to the accounting regulations, “organizational income”:

• The accrual of interest on the deposit is reflected in the debit of account No. 76 “settlements with various creditors and debtors”.
• When creating a posting, account credit No. 91 “other expenses, income” or No. “other income” is used.

For tax purposes, the amount placed in a deposit bank account will not be considered an expense of the enterprise, just as it will not be considered income when the money is returned to the depositor.

Displaying the return of the deposit to the depositor

If the deposit period has come to an end, the bank is guaranteed to return the deposit amount back to the owner of the funds. In this case, an entry is made opposite to the receipt of money when opening a deposit, that is:

• debit () credit .

Deposit agreements may differ in terms and conditions. There are also deposits on which interest is paid after the expiration of the contract, upon return of the principal amount of funds. In this case, the accounting entries will differ from those when payments are made every month.

Account No. is kept individually for each deposit. Since the deposit is recognized as an investment, accounting can also be kept in account No. 58 (“financial investments”).

Postings when placing a deposit, calculating interest and returning the deposit

– this concept has two meanings: the basis of banking support and the protection of clientele’s finances. A deposit in simple words and in the broadest sense means a share when one party gives something valuable to the other for a certain period for storage. Accordingly, the stored object is also called a deposit. Moreover:

• the parties can be both individuals and legal entities;
• the deposited object can be stored either with or without the condition of increasing its value;
• the party accepting the deposit object for storage must be interested in such a service, i.e. the contract partner must either directly pay for storage, or the object itself can be used so that the party storing it makes a profit.

The options here are different. Thus, antiques, art objects, historically valuable documents and papers are stored with virtually no increase in value. Such items are very reliably protected from inflation, since even during periods of crisis they have a consistently high price.

Types of bank deposits by form

Another point is the legal position of the parties. The opener of the deposit can be either a private individual or a huge corporation. But the custodian almost always turns out to be a legal entity. Moreover, in 90% of all cases we are talking about a bank. After all, the concept of deposit is colloquially associated with a bank. This type of attachment can be opened in three forms:

• deposit box, i.e. a metal box in a bank vault. Clients place securities, precious stones, precious metal bars, art and antiques, valuable documents, etc. for storage in such a capsule. Banknotes are not the most common contents of such boxes;
• deposit cash account– from the name it is clear that the bank opens an account in the name of the client to which he transfers his funds under certain conditions;
• metal deposit account- the same as cash, only when you deposit currency into it, it is automatically converted into gold, platinum or silver equivalent by weight in accordance with the current exchange rate for the value of precious metals. It is important that the electronic metal account does not have a physical expression, i.e. all these grams and kilograms of precious metal are stored in the bank exclusively in information form.

The most common is a cash bank deposit, when the client opens a bank account under certain conditions. This is what we will talk about. A deposit is both a contribution and a special lending. The two-way benefit here is explained as follows.

Features of deposits and “reverse lending”

The client deposits money for a reason, but with the condition that, according to a certain scheme, interest will be added to the original amount. Thanks to this, the client will later be able to use a larger amount of money than what was originally his investment.

But it is worth keeping in mind that interest increases on deposits can hardly be considered as a way of investing, that is, increasing money capital. Such an increase can at most protect money from inflation, which is, in fact, why a cash account is opened - the client wants to have financial savings, but in such a way that they do not depreciate over time.

The benefit of the bank lies in the fact that, firstly, the client pays for opening a deposit account, and secondly, and this is the main thing, the bank has the right to carry out various operations with client deposits. What is important to the investor? So that such and such an amount of money is kept in his account within a specified period. What will happen to this money in the interim periods is not his concern.

Therefore, the bank uses these funds for its own investment, for playing in the securities markets, for currency conversion. That is, everything that can and does bring financial profit. It turns out that clients, as it were, lend their money to the bank for a while, with the help of which it earns money for itself.

And clients’ reward is a moderate increase in deposit finances, which protects their savings from depreciation. This is a two-way benefit. To some extent, this is reminiscent of a “loan in reverse,” when the client is the lender and the bank is the borrower. “What does the bank have as collateral?” - an inquisitive reader will ask like the old Indian from the joke.

Of course, the bank cannot provide collateral in the full sense of the word, but there are bank and government guarantees to preserve funds up to a certain threshold. Thus, in the event of a bank collapse, the state can return 1 million 400 thousand rubles to the client, but we must remember that this amount also includes interest.

Therefore, if a client opened a deposit for 1 million 400 thousand rubles, and a year later the bank “burned down,” then when he contacts the government services, he will receive back 1 million 400 thousand rubles. In order for the required interest income to be included here, the initial deposit had to be less, for example 1 million 325 thousand rubles.

Types of deposits by maturity

How are bank cash deposits classified? First of all, by time intervals, i.e. for what period the account is opened and when the client has the right to withdraw money from it:

1. Poste restante. The most flexible, but also the least suitable option for accumulating cash savings. The client deposits money into the account, after which he has the right to withdraw it at any time - even every other day, even every year. The interest income of such a deposit is very small, since there is no benefit for the bank. The bank cannot use such deposit savings to increase its own profits - suddenly the client suddenly appears and demands to cash out the entire account.
2. Time deposit. A very common option with a good interest rate. When a client deposits a certain amount into such a deposit account, it will be unavailable for a certain period. It will be impossible to cash out or top up, even partially. But within the period specified in the contract, significant interest will be added to the original amount. By regularly opening such deposits, you can protect your growing savings from inflation. Banks are interested in time deposits because they know for sure that during a certain period they are completely unavailable to customers, which makes them an instrument for the bank’s financial transactions.
3. Savings deposit. A type of urgent, only with more flexible conditions. For example, you can only withdraw money on specified dates. And on the agreed dates, interest accrues. In addition, there is almost always a condition for maintaining a certain small balance in the account. The savings option is used by those who do not want to get into credit bondage, but prefer to slowly save up on their own for a new home, car, etc. Banks even introduce special offers, for example: a savings deposit for the purchase of real estate, a car deposit, etc.

Types of deposits by purpose

Another classification involves dividing deposit investments according to their intended purpose:

1. Cumulative. Already mentioned above. It is worth adding that the interest rates of a savings deposit are still lower than those of a fixed-term deposit.
2. Settlement. In most cases, it is similar to a demand deposit, but there is one mandatory restriction - you cannot spend a certain minimum account balance. It is these balances that banks can also use for their own operations, so the interest here is higher than that of a demand deposit.
3. Special. It happens that a client wants his salary or pension to go into the account. For this purpose, banks have developed a whole line of deposits specially tailored for such needs.
4. Metal. The name speaks for itself. The electronic account of this deposit is equivalent to the real mass of some precious metal. The client can convert the hypothetical metal into foreign currency at any time or strictly on schedule. If the prices for gold, platinum and silver begin to jump (which does not happen very often), then experienced investors have a good profit from transferring the metal into money and back.

Foreign currency deposits

It is clear that the absolute majority are occupied by deposits working with rubles, US dollars and euros, i.e. the main currencies for the Russian Federation. Interest is paid in the same currency in which the account is opened. The most productive are multi-currency options that support all three currencies.

The client is free to carry out conversions by playing on fluctuating exchange rates. Although the interest rate is a key concept in the field of deposits (as in the field of mortgages), it does not indicate the absolute guaranteed benefit of the deposit. To make the optimal choice, you need to not only understand the features of deposits, but also exercise basic care.

Thus, banks use a common technique when tempting large interest rates are actually charged, but... only once after the first quarter or year. After which interest charges become completely normal. And the disappointed client will remember how, upon seeing 15% annual charges instead of the expected 7%, he was so happy that he forgot to read the fine print at the very bottom of the deposit agreement.

Capitalization and its advantage over a fixed high interest rate

Particular attention should be paid to such an important factor in increasing profits as capitalization of interest (compound interest). When concluding a contract, be sure to find out whether there is a capitalization condition. And, no less important, what is the frequency of capitalization - once a month, quarter, six months, year.

What does this mean in the deposit? The meaning of capitalization is that each subsequent interest is calculated from the new amount in the account. This means that at a constant interest rate, more and more will be added, because the amount in the account will grow.

For example, 10% of 10 thousand rubles is 1,000 rubles, and from 20 thousand is already 2,000. This simple calculation is shown for clarity, however, in banking practice, compound interest is calculated in a slightly different way using a special formula:

Y = X*(1+S)N

where Y is the calculated current amount of money in the account, X is the amount of the initial cash deposit, S is the interest rate, only divided by 100 (percentages in the form of a number from 0 to 1), N is the years (or months, or quarters) while it is valid deposit. Let's say the conditions are:

• the client deposited 100 thousand rubles;
• interest rate 8% (i.e. 0.08);
• capitalization takes place once a year, and the client wants to know how much money he will have on deposit in 3 years.

Calculation: 100,000 * (1 + 0.08) 3 = 125,971.2 rubles.

Although it is easy to calculate in a simple way without this formula. After 1 year the amount will be 108 thousand rubles. 8% of this amount is 8,640 rubles, therefore, after the second year it will already be 116,640 rubles. 8% of this amount – 9,331.2. It turns out that after the third year the client’s account will have 125,971.2 rubles.

A strict savings regime, hard work, an inheritance or a gift can help you have a free amount of money, which can be used in a variety of ways: hide the money in a secret place, invest in a business, buy real estate, etc. Recently, deposits in Moscow have become increasingly popular. They allow you to guarantee the preservation of capital, including through state insurance, as well as receive additional income in the form of interest paid.

Deposit rates in Moscow banks

Since interest on deposits in Moscow largely determines how much of the deposit will be added to the original one, many consider them the most important condition for the deposit and, on this basis, make the choice of program and bank.

Of course, deposit rates have a big impact on the profitability of deposits in Moscow, but not only they can reduce or increase your profits. Thus, the type of deposit itself can greatly affect the profitability of the entire deposit program:

• time deposits with a strict limitation on the storage period for savings are characterized by the highest interest rates;
• permanent or short-term deposits are usually accompanied by lower rates on deposits in Moscow banks.

Thus, if you want to open a deposit at high interest rates, then try to plan your budget wisely in order to be prepared to comply with certain restrictions:

• a ban on closing a bank deposit in Moscow before the deadline;
• prohibition on partial withdrawal of funds placed on the deposit.

Violation of these rules for deposits in Moscow banks may lead to penalties from the bank and a reduction in the initial rate.

In addition, you can choose the interest payment period. There are several options:

• daily;
• once a week;
• once a month;
• once a quarter;
• only at the end of the term.

All interest on deposits of individuals in Moscow is accrued daily, but may differ from each other by the presence of capitalization.

Which bank in Moscow is better to open a deposit in?

In 2019, many banks are working with deposits: Sberbank, VTB, Rosselkhozbank, Post Bank, Alfa Bank, etc.

To open a deposit in Moscow on the best terms, you will have to spend time studying all current options, making calculations, and consulting with specialists.

The deposit calculator on this page will help you quickly obtain all the necessary information on current deposits:

1. Enter your deposit requirements.
2. Get a complete list of current deposits in Moscow banks updated for today.

After this, you will be able to make an informed choice, as well as immediately submit an online application for the selected deposit program.