The most profitable deposits for Russians are currently at 18-20% per annum for six months to a year. This is what Andrey Loboda, BitRiver’s economist and communications director, told socialbites.ca. He listed the main pitfalls of deposit and savings accounts.
“It is best to open a ruble deposit with the highest possible interest rate in a reliable bank. The main problem here is that in any reliable bank the highest interest rates may not be valid for all clients, for example, only for new clients or for all clients, but for “new” money that was not previously stored in this bank or vice versa, only for “salary” clients,” Loboda said.
According to him, the second disadvantage of the deposit is that it is not a fact that the deposit can be extended under the same conditions after its maturity. The economist added that for most high-rate deposits, interest is accrued only once at the end of the deposit period, and this is the third catch. So if you want to withdraw such a deposit before its maturity and transfer it to another bank, you will not receive interest. With rare exceptions, it is not possible to renew such deposits and withdraw money.
Loboda said that savings accounts are more convenient in terms of interest and withdrawal of the principal amount of savings. The economist explained that savings accounts can have the same high interest rates as deposits. At the same time, interest from the account and even part of the amount can be withdrawn at any time. However, the expert noted a certain problem with savings accounts – for example, a high interest rate will be charged to a person if he purchases a certain amount from all bank cards every month – for example, at least 10 thousand rubles. In the absence of this condition, the interest on a savings account can be half or even three times lower than the interest rate for purchases made by card.
The economist called multicurrency deposits unprofitable for Russians, given the fact that almost all world reserve currencies except the yuan are poisonous. And interest rates on deposits in foreign currency or even if such a deposit is partially denominated in rubles are very low (up to 5% per annum on average. – socialbites.ca).
Russians before named The most convenient ways to deposit money.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.