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Once a very wealthy and powerful man said: "If a person needs money to exist, he is looking for work.If he wants to live, not to exist, he opens his business. "Modern financial sector presents a lot of opportunities that can be made to work not you and your money.One of them - bank deposits and deposits.What is the deposit?The Latin word «depozitum» literally means "thing Deposited".In the modern sense of the word "deposit" refers to the contribution of funds for interest in such financial institutions as banks, savings banks and investment funds.
What are the different types of bank deposits?
Currently, there are many types of bank deposits.But among them it is easy to distinguish three main:
- Term deposit.
- demand deposit.
- Conditional deposit account.
What are the differences between them?Term deposit depository brings a certain time period.It is divided into segments, after the expiration of each contributor receives a c
Deposit demand has another name - a savings deposit.It differs from the first only in that it has no clear indication of the period of storage investments.The customer can pick them up at any convenient time without loss of interest income.It is very convenient, but less profitable, since the interest in these deposits are low.
Conditional deposit account is not done by the investor, and the other person who draws it to the depositary.Terms and conditions for the management of funds invested in this case clearly attributed to the contract.For example, it lists all the circumstances in which the depositary may receive interest, to remove or increase the deposited amount at its discretion.
How to choose the best option?
After a brief educational program it becomes clear that such a contribution is to decide how to choose the best option for themselves.Experts recommend choosing the option of investing money, to pay attention to a number of fundamental parameters.It:
- terms.Demand deposits, as already indicated above, the timing is not, but then interest is charged at a rate below the market.Term deposit provides a good income on the percentage, but the amount in the account shall be circular and continuous.If there is a desire to reduce or enlarge to a finite time period, it is necessary to restructure the contribution, and thus lose interest.And it is not always profitable.
- currency.Banks offer to make a currency, and multi-currency denominated deposits.Multi-input allows you to put the money in three currencies: rubles, US dollars and euros.This option is beneficial only if you have the time to constantly monitor fluctuations.
- amount of volume.The higher it is, the greater the interest income will be able to receive the depositary.
- chance to recharge.This option gives the right to save money.
- Extension deposit - automatic extension of the agreement concluded on the same terms
- scheme of payment of interest.It is important to pay attention to how the interest is calculated (once a month or at the end of the contract).
- Do the right of partial withdrawal.If there is, you must specify in advance the minimum and maximum amount.
Where to invest money at interest?The contribution of money in banks, rather than in mutual funds, is safer.Mutual funds do not provide accurate data on interest, besides, some of them work very risky, so often unprofitable.Banks offer lower interest income, but they are reliable and stable.In our difficult time best to make deposits in state banks.How to put money in the Savings Bank?Types of deposits in the financial institution and to profit from them depend on the terms of each specific deposit.The longer they are, the higher the interest rates.After selecting the appropriate option deposit, the investor must submit an application at any of the branches of the Savings Bank of the acceptance of funds from an individual, to present a passport, and if the contribution of the pensioner draws, then the pension certificate.On the basis of these documents will be drawn up a contract of deposit discovery.