Multicurrency deposit - reasonable placement of funds

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

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

Interest Rates and Risks

The idea that if you really give money to use the bank, then under the highest interest on deposits, visits almost everyone, but in addition to this desire when choosing a deposit and the place of its opening, you can not fail to consider other factors.

Opening the deposit, it is worth considering that these highest rates can only be obtained if you deposit a large amount of money for a period of one year or more. The second trouble may be the news that this interest rate is valid only in a certain period of time, in most cases falling on the last three months of placing money on the account.

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

Advantages of placing funds in different currencies

Multicurrency deposit in most banks assumes different interest rates for each currency entering it, but some offer a single average interest rate. Technically, upon opening it, the customer 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, however, the bank, as a rule, announces the minimum amount that can remain on each account.

The program "Multicurrency deposit" can be found in almost any bank. Traditionally in Russia, such deposits can be replenished with rubles, dollars and euros, which can be paid in equal shares or in other proportions.

State insurance, which in case of bankruptcy of the bank allows to repay the borrower up to 700 thousand rubles, also acts on a multi-currency deposit, which, undoubtedly, 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 that allows you to save your savings.

Differences between deposits of different banks

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

• Minimum amount for opening a deposit;
• The possibility of early closure;
• Possibility of replenishment;
• Term of deposits and other conditions.

Thus, by opening such a deposit as a multicurrency deposit, it is possible to invest fairly well with minimal risks. However, do not get carried away by transferring money from the account to the account within the deposit, because the bank's exchange rates for such transactions may not be the most profitable and to cancel all the profits from such an investment.