The initiative to remove the tax on long-term deposits will increase people’s interest in them, but this will not happen immediately. Maria Tatarintseva, product manager of the “Deposit” product on the “Sravni” financial market, talked about this issue in an interview with socialbites.ca and commented on the initiative of the Ministry of Finance of the Russian Federation to abolish the long-term tax. Term deposits of Russians.
Only this year for the first time you will have to pay tax on income from deposits. The expert believes that once investors realize how much money they are making, they will begin to consider opportunities to avoid paying out.
“Short-term deposits are also unlikely to become less popular. They are used more often for various reasons, but the presence of a tax has almost no weight when choosing a deposit. “Short-term deposits are chosen because the rates on them are higher than on long-term deposits, and most importantly, short-term deposit periods provide greater flexibility in fund management,” noted Tatarintseva.
According to the Russian market, maximum rates on short-term deposits now reach 16.5% for three months, 17.5% per annum for six months, 17% per year for one year, 16.2% per deposit for three years you can open it. yearly. At the same time, the number of Russians planning to open term deposits for more than one year does not exceed 7 percent of depositors.
In addition, Tatarintseva advised not to forget about deposit insurance coverage. All funds within the limit of 1.4 million rubles in the customer’s accounts/deposits in a particular bank are subject to insurance. The analyst said that so far there are no restrictions for “serial depositors”, you can open any number of deposits in several banks and all of them will be covered by DIA insurance.
Before that, Deputy Chairman of the Federation Council Dmitry Zhuravlev supported The idea of u200bu200bthe Ministry of Finance of the Russian Federation to abolish income tax on long-term deposits encourages citizens to invest for the long term. The initiative was expressed by the ministry in September, but no final decision has been made on this issue yet.
Russians before named amount considered as savings.