Multicurrency deposit - reasonable placement of funds

An increasing number of citizens givepreferences for bank deposits, gradually refusing to keep money at home. The reasons for this are logical and on the surface: increased financial literacy of the population, advertising in the media about the benefits awaiting those who have bank deposits, and so on. Yes, and the understanding that storing money in a glass jar is much less reliable because of the risks of fire, theft and other unpleasant circumstances, says the need to save money away from home.

Another advantage of a bank deposit is the opportunity to participate in various loyalty programs, including preferential credit terms.

Interest rates and risks

Мысль, что если уж отдавать деньги в пользование the bank, then under the highest interest rate on deposits, is visited by almost everyone, but apart from this desire, when choosing a deposit and a place of its opening, it is impossible not to consider other factors.

Opening the contribution, it should be borne in mind that thesehigh rates really get only if you make a large amount of money for a period of a year or more. The second trouble can be the news that this interest rate is valid only in a certain period of time, in most cases attributable to the last three months of placing money on the account.

And finally, one of the most obvious factors:The highest rates are offered on deposits in rubles, which can hardly be called a stable currency. So, another crisis may completely devalue ruble savings, which has already happened and, alas, more than once. If we talk about reliability, then leadership in this indicator definitely takes a multi-currency contribution. The average interest rate on it is likely to occupy an intermediate position between the indicators of ruble and foreign currency deposits.

The advantages of placing funds in different currencies

Multi-currency deposit in most banksassumes different interest rates for each currency included in it, but some offer a single average interest rate. Technically, when opening it, the client receives one account for each currency placed on the deposit. During the term of the deposit it is possible to transfer the funds placed from one currency to another, although the bank, as a rule, announces the minimum amount that can remain on each account.

The program "Multi-currency contribution" can be foundin almost any bank. Traditionally in Russia, such deposits can be replenished with rubles, dollars and euros, which can be made in equal shares, and in other ratios.

State insurance which in the case ofBank bankruptcy allows the borrower to return up to 700 thousand rubles, and acts on a multi-currency deposit, which certainly gives confidence in its reliability.

The fact that to open a bank deposit does not require any knowledge and a large package of documents, makes it a very attractive tool to save your savings.

Differences in deposits of different banks

In various financial and credit institutions, the conditions for opening and servicing such deposits may vary in such parameters as:

• minimum amount for opening a deposit;
• the possibility of early closure;
• the possibility of replenishment;
• terms of deposits and other conditions.

Thus, opening such a deposit as a depositmulticurrency, you can invest well with minimal risk. However, you should not get involved in transferring money from an account to an account within the deposit, since the bank's exchange rates for such operations may not be the most profitable and negate all the profits from such an investment.