An expert spoke about the advantages of bank deposits

A bank deposit is a sum of money that a person deposits in a bank for a certain period of time and then takes back. Capital Lab partner Evgeny Shatov told Izvestia on December 29 about the advantages of bank deposits.

"As long as [depositors'] money is held by the bank, it can dispose of it for its own purposes. For example, to issue loans to clients, to trade on stock markets and currency exchanges, which will bring commercial income to the bank. Banks are ready to pay for this opportunity to use the invested funds, so at the end of the deposit term the depositor will get his money with interest," the expert said.

According to him, for depositors a bank deposit is an opportunity to secure their savings, keep them and even increase them, and for credit organizations - a way to get free funds that will work and bring income.

Deposits differ by several parameters. By term. A deposit is opened for an agreed term or for an indefinite period of time. In the first case - it is a term deposit, in the second - demand or perpetual. The most profitable are term deposits with a long term of placement - for them banks offer the highest interest rate, explained Shatov.

In addition, deposits come in different interest rates.

"The rate is the bank's fee for using the client's money. It can be fixed or floating, that is, constant throughout the term of validity or changing depending on the parameters specified in the contract. Demand deposits may have a combined rate. The effective rate is charged by the bank on the balance of the first day of the month, provided that the money was not withdrawn. And if there were operations, the interest is calculated at the demand rate", - said the expert.

In addition, you can open a deposit in rubles, in one foreign currency or in several, but the last option is not provided by all credit organizations. Foreign currency deposits usually have lower profitability than ruble deposits, as they carry more risks for the bank due to exchange rate fluctuations.

There are also different replenishment and withdrawal options. Some types of deposits can be replenished during their term, others cannot be replenished, the same applies to withdrawals. The bank may also set a minimum amount for replenishment or introduce limits on withdrawals, the expert said.

"The listed parameters can be combined in different ways in the offers of different banks. The final choice of deposit type depends on the depositor's goals: whether he wants to earn money on deposit or just save money, whether he is ready to entrust the bank with money for a long period of time or whether it is important for him to be able to withdraw it if necessary", - said Shatov.

He noted that as of November 1, 2024, the total amount of individuals' money stored in banks reached a colossal amount of Br52.63 trillion. According to him, the popularity of deposits is due to the growth of the key rate and the increase in deposit rates. Thus, the average maximum rate on deposits of ten Russian banks in the first ten days of December reached 22.08% per annum, having updated the historical record, according to the Central Bank of Russia. At the same time, the largest banks have been actively raising deposit rates since the beginning of December. According to the expert, the conditions offered by credit institutions are attractive for depositors, as well as for investors, who, in turn, are trying to avoid or minimize losses due to trading on the stock market, where increased volatility persists. The deposit provides an opportunity to earn, while bearing minimal risks (deposits are insured by the state for 1.4 million rubles).

"However, the latest meeting of the Central Bank, at which the regulator left the rate unchanged, may be a reason for banks to start lowering rates in the future. The first step was taken by TCS. In the near future we may see other banks reducing deposit rates as well. But in general the dynamics will be determined in January by signals from the Central Bank", - concluded Shatov.

The information in the material is not an investment recommendation.

Earlier, on October 25, the head of the center of brokerage operations of MTS Bank Julia Gorokhova said that you can start investing with 100 rubles. However, one should not invest large sums at once. The optimal attitude to money is to form a portfolio, which is rebalanced depending on the market situation and a person's needs, she specified.