Are you planning to open a deposit? Be careful!

A reasonable solution when trying to increase free money can be the opening of a deposit in the bank. This simple procedure can be complicated only by choosing a credit institution. Competition compels banks to go to all sorts of tricks in pursuit of customers. Advertising slogans excite the minds of potential investors, offering the most favorable terms. Let's try to understand what deposits are profitable and what is behind the high interest rates that appear in bank offers.

The placement of a monetary deposit has always been and remains the most popular financial instrument. In former times, only savings banks could provide safe storage and money growth. Since then, the number of banks has grown many times. The simplicity of the procedure for placing funds is ensured by the fact that no additional documents are required to open a deposit. It is enough for a Russian depositor to have only a passport with him, foreigners additionally present a migration card and registration in our country.

The difficulty for a client in investing money is only in choosing a reliable bank and the type of deposit. High interest rates, up to 11.6% per annum, are most often offered subject to long-term funds. Thus, the opening of the "FF +" deposit in the Project Finance Bank will bring the customer a profit of 11.15% per annum with a maturity of 549 days. Almost the same conditions for Ergobank with the contribution of "Amber". These two deposit products currently top the list of effective deposits, which are bank experts.

The bulk of deposits offered by banks are oriented at an interest rate of 9-10% per annum. About the receipt of a significant profit by the depositor can only be said when investing in a financial institution for a long period of time. Such a proposal, for example, is announced by the bank "Otkrytie". Deposits "Classic" to receive an interest rate of 10% set the minimum deposit amount - 3 million rubles, the placement period - 3 years. Interest can be obtained either on a monthly basis, or they can be added to the main deposit and received at the end of the contract.

However, the same experts categorically do not recommend opening a deposit for more than 700 thousand rubles for one deposit. The insurance system limits this limit to the amount of compensation when the bank is closed. Choosing a bank and a type of deposit agreement, it should be remembered that the most profitable can be opening a deposit with an average interest rate if there are the following parameters:

• Possibility of replenishment of deposit ;
• Capitalization of the deposit, providing for the accrual of "interest on interest";
• The possibility of early termination of the deposit agreement with minimal interest losses.

And the last: when investing large sums of money for an extended period of time, it is preferable to open several deposits in different currencies. Such foresight will help to guarantee an effective investment of capital and its security.