Advantages and disadvantages of term deposits. What is a demand deposit. Distinctive features of the offer

If an individual urgently needs to earn a small amount of money, he should apply. When people seek to preserve and increase their savings, they should consider other offers from Russian banks. Most deposit products do not provide for partial withdrawals. When they are issued, depositors place a certain amount on deposit accounts, on which interest is subsequently charged. If for individuals it is important to always have free access to your savings; financial institutions offer them to draw up “On Demand” deposits.

What is the On Demand Program?

Studying other Russian cities, individuals are faced with deposit programs"Poste restante". When comparing such a product with other types of deposits, you can notice a significant difference in the amount of interest rates. Clients who decide to make a deposit “On Demand” are provided with access to savings at any time, which they can withdraw without losing accrued income. The duration of such a program is not limited. Accordingly, the money in the client's deposit account can be until he requests it from the bank.

Advice: when making such deposits, individuals should take into account one nuance. Almost all financial institutions set almost zero interest rates on them. Their size can fluctuate in the range of 0.001% -0.50% per annum. That is why many savers consider such programs only as a tool to save their savings and use them at the right time.

In accordance with the regulations of the Civil Code of the Russian Federation, the “On Demand” program is called a deposit, despite the fact that it practically does not bring income to individuals. When it is issued, an appropriate agreement is concluded between the client and the financial institution. In accordance with its terms, citizens who have opened such a deposit have the opportunity to conduct cash transactions, as well as make money transfers for the purpose of replenishment. This is what distinguishes such a deposit from bank account, which is provided for carrying out settlement and cash transactions.

Practically in all Russian banks identical terms and conditions are established for “On Demand” deposits. They may differ from each other in some respects:

1. VTB 24. To open such a deposit in this bank, an individual must have at least 100 rubles on hand. The program provides for the capitalization of interest income, which is calculated using a rate of 0.01% per annum. It is worth noting that this financial institution allows you to deposit not only Russian rubles, but also foreign currency on the “On Demand” deposit: euro / US dollars / Swiss francs / British pounds sterling.
2. KB Genbank. This financial institution has established standard conditions for placing funds on this deposit. The only difference from similar programs is the higher interest rate, the size of which reaches 0.30% per annum. Accrued income is subject to capitalization or is paid to individuals once a year.
3. Bank Orange. For elderly people who decide to make a deposit, the highest interest rate applies - 3.50% per annum. Accrued income is paid once a month or capitalized.
4. CB Renaissance Credit. Under the terms of the program of this financial institution, interest income (the rate is 0.50% per annum) is subject to monthly capitalization.
5. Mosoblbank. The annual interest rate on the "On Demand" deposit is fixed at 1.50% per annum. Accrued income is capitalized or paid to clients once a month.
6. Fundservisbank. Individuals who choose to place their savings can expect an annual interest rate of 1.00%. Income is accrued monthly, after which it is either transferred to the current or card account of the client.

Does it make sense to open deposit accounts “on demand”?

Most Russian citizens seek to find. Studying the available deposit products, they pay attention to one main advantage of the "On Demand" deposit. The financial institution undertakes to return the entire amount of funds at the first request of the client. This procedure for conducting settlements is enshrined in the Civil Code of Russia.

Advice: currently many subjects entrepreneurial activity transfer the salaries of their full-time employees to deposit accounts “On Demand”. In this case, individuals manage not only to keep their earnings, but also to increase them a little. At the same time, they can withdraw the necessary amount at any time to pay current expenses.

Today, some financial institutions, when applying for various deposit programs, automatically open “On Demand” deposits to clients. This is done in order to transfer accrued interest income to them. For some deposits, it is provided that on the last day of the agreement, the client must either prolong it or withdraw his funds. If this is not done, then all those on the deposit account cash will be transferred to the "On Demand" deposit. After that, an individual can withdraw the money at any time or leave it in storage, while a small interest income will be charged on them.

What benefit do banks derive from such deposits?

All financial institutions are created in order for their owners to receive profit, the amount of which will directly depend on the speed of cash turnover. If we take into account the statistical data that are available in open sources, it can be seen that the funds of customers stored on deposit accounts “on demand” are turned over by banks from 30 to 50 times a year. Today it is the highest circulation speed.

Russian banks direct all funds from On Demand deposits to various financial transactions with maximum liquidity. The distribution of money is carried out as follows:

• most of the clients' investments are used in the form of cash on hand (the bank can transfer it to its correspondent accounts opened in other financial institutions);
• part of the funds is invested in government-issued securities (only short-term);
• the minimum part of the investments of individuals is directed to lending to the population (short-term loans, overdrafts, etc.).

Based on this, we can draw the following conclusion: for Russian financial institutions, “On Demand” deposits are a way to receive the cheapest investments. They use clients' money for minimal interest - from 0.001% to 5.00% per annum. With minimal costs, banks receive maximum profit, while their own funds continue to be in circulation and bring a stable income. Naturally, there are certain risks for financial institutions that take funds from “On Demand” deposit accounts. For example, a client unexpectedly requests the return of all their investments. This scenario is quite acceptable, since the contracts do not provide for a procedure for prior notification of a financial institution about intentions to close a deposit or partially withdraw funds. In such a situation, banks are forced to withdraw their investments in various financial instruments. Due to the presence of such risks, the cost of such deposit programs is minimized.

What conditions are established for deposits "On demand"?

Demand deposits are open-ended bank accounts where individuals can place any amount of money in domestic and foreign currency. They establish the following conditions (some financial institutions may slightly adjust them):

1. There is no monthly fee for servicing the deposit.
2. The deposit can be replenished without restrictions.
3. Individuals can withdraw any amount of funds (no minimum balance is set).
4. Accrued interest income is subject to capitalization.

Note: According to statistics, Russian financial institutions form up to 17% of their loan portfolios using such termless deposits.

What benefit can individuals get from such deposits?

When issuing perpetual or in any other financial institution, Russian citizens can benefit from them in the following ways:

1. Clients' savings are under reliable protection. Many financial institutions are participants in the state deposit insurance program, so in the event of their bankruptcy, investments up to 1,400,000 rubles will be returned to individuals.
2. Demand deposits can be used as current accounts, as they are allowed to carry out expenditure and cash transactions.
3. Many Russian citizens use such deposits not only for savings, but also for accumulating funds. By replenishing them regularly, they can accumulate a large number of of money. It should be noted that such deposits can be inherited.
4. Deposits generally have a negligible minimum balance, allowing individuals to withdraw all their savings without having to close accounts.
5. On such deposits, Russian citizens can receive various payments, for example, wages, scholarships, pensions, compensations and other social benefits.
6. When carrying out settlement and cash operations, the owners of such deposits are charged a minimum commission.
7. Customers as a gift can be framed with a small credit limit and high interest charged on the balance of funds.

Demand deposit from Sberbank of Russia

Today, Sberbank of Russia offers individuals to open a termless deposit "On Demand" on the following terms:

1. Funds are placed for an unlimited period in Russian rubles and various types of foreign currencies.
2. The minimum amount of the entry fee is fixed at 10 rubles or 5 USD.
3. Individuals are allowed to make additional contributions without restrictions.
4. At any time, depositors can withdraw their savings from deposit accounts within the minimum balance, which is equal to the amount of the entry fee.
5. Interest income is accrued once a quarter at a rate of 0.01% per annum (capitalization is provided).

Advice: if Russian citizens plan to open a “On Demand” deposit in foreign currency, they should first contact the hotline operator. This is due to the fact that not all branches of a financial institution can carry out such registration.

To find out how, individuals need to either personally visit the nearest office of a financial institution, or contact its hotline. On the official website of Sberbank, they can fill out a special form that contains tips for people who do not know how to do this.

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If individuals seek to protect their savings from possible risks, they should not always choose deposit programs with the highest possible interest rates. By making deposits "On Demand", people will be able to gradually accumulate very large amounts of money, to which they will have access at any time.

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Today in the CIS the most common investment instrument is. Almost every pensioner, despite the critically low pension, has bank deposits. Apparently this is a habit of the old Soviet times, when bank deposits were the only investment vehicle in the country. - "What books do you read?" - "Savings" - they joked then in the Union.

And although we know that those savings disappeared during perestroika, pensioners who are accustomed to living modestly and saving "penny for a rainy day" continue to carry their "hard-earned money" to the bank.

Indeed, where, if not in the nearest bank, can people keep their savings? Even those who invest in other instruments also use bank deposits to some extent. Who saves up to buy an apartment, most likely, does it on term deposits; who sold shares, in anticipation of the next crisis, will also not give up bank interest; renting shops or equipment, part rent destined for repair, for sure, will debug on deposit.

Yes, what to say. Who cares additional income as bank interest? While your money is waiting in the wings, let it work for you a little.

There are many people of different incomes who, in their investment activity use only bank deposits. And they grow their capital, make a profit and live on it, investing only in bank deposits. What attracts them so much in term deposits? And in general, what made bank deposits so popular among the population?

Compared to others, bank deposits (including deposits in credit unions) have a number of significant advantages. Let's try to list them.

Benefits of bank deposits

1. Simplicity. Bank deposits are the easiest investment instrument to understand. To put funds on a deposit, an investor just needs to come to the bank with money, a passport and a tax number. Bank employees will do everything themselves in 10 minutes. The investor should not have any professional knowledge or level of intelligence. You don’t need any education or special courses or a summer residence to read some kind of literature. Everyone can invest in bank deposits, whether you are a manager, a worker or an artist.
2. Availability. Almost any amount can be put on bank deposits. There is no need to save money for several months or even years to use this tool. Bank deposits can be attracted starting from $50 and even less. Such small amounts to invest, in general, there is nowhere else to invest. And since most people are not rich, they only put money in banks.
3. short term. The terms of fixed-term bank deposits usually start from one month. On demand deposits minimum terms and are completely absent. You can even make a profit by depositing money for one night, because interest is accrued on funds in the account at the end of the day. When I came on a business trip for work, I immediately deposited the issued travel allowances into my bank account. If you want to save money for summer holidays or Christmas gifts, a bank deposit is exactly what you need.
4. Liquidity. Bank deposits can be withdrawn very quickly, if necessary. When you look for an object to buy, go to the bank and terminate your deposit. You may not be paid the accrued interest on the deposit, but you can always withdraw the invested funds. If the amount is large, it may take 3-5 days to close the deposit, no more.
5. Return guarantee. The bank undertakes to return to the depositor the funds invested on the deposit. The return guarantee is close to 100%. Non-repayment of bank deposits is possible only in the event of a bank failure. But even in this case, the return of deposits is undertaken by the state and the deposit insurance agency. Perhaps, this is the main advantage of bank deposits, which distinguishes them from or, investing in which you can quite naturally lose more than half of the funds.
6. Free. You do not have to pay for a bank deposit. Not for opening, not for closing, not for renewal, not for management, not for paperwork. They pay only you, for your money.
7. income stability. Money invested in bank deposits brings its owners a stable, known income. For every professional investor who lives only at the expense of investment profits, bank deposits will give more confidence in the future. On the example of bank deposits, you can accurately calculate how your funds will grow with help in 5, 10, 20 years.

It is also important that there are branches of banks where you can deposit money on a deposit in almost every city. AT big cities they have already captured the best premises in the center and at the crossroads of the most significant streets. And in order to invest, for example, in funds or open a brokerage account, you will have to go, at least, to the regional center.

However, the advantages of bank deposits do not at all make them invulnerable. We remember what happened in 1992 when all depositors lost their savings. When investing in bank deposits, one should not forget about diversifying them with other assets. In addition, it is far from the most profitable financial instrument.

The basis of deposit resources is accounts on demand (they are also called checking accounts, transaction accounts from the English. transaction - operation). Demand accounts ' involve spending or issuing funds from them at the first request of the owner of such an account or a person authorized by the owner of the account to perform operations on the account. Demand accounts are opened so that their owners can freely receive and spend funds stored in the bank for settlements on their commercial transactions and payment of current expenses.
From their settlement and current accounts, enterprises and organizations pay their expenses associated with the implementation of settlements with suppliers, contractors, the budget and off-budget funds withdraw money to pay wages and travel employees, make other necessary payments. These accounts receive proceeds from the sale of products and services of enterprises, other payments are made to legal entities- owners of these accounts and the cash deposited by the enterprises to their bank account is credited. In addition, the amounts of loans granted to them, contributions of shareholders (members) of enterprises to their authorized capital, amounts of deposits and interest paid by banks to enterprises for the use of borrowed funds, as well as fines, penalties and other cash receipts in non-cash and cash forms.
Opening a bank account for an individual, as a rule, is carried out on the basis of a relevant application of this person and the presentation of a passport or other document proving the identity of the applicant.
As a rule, demand accounts are the lowest-yielding ones, since banks either do not charge interest on them at all, or these interest rates are significantly lower than those paid when placing funds for a certain period. In addition, the bank charges commissions for account transactions in the form of a fixed monthly account maintenance fee or a certain amount (or a percentage of the payment amount) charged for each account transaction (or each debit account transaction).
In order to provide bank account holders with a higher profitability and, accordingly, to interest them in keeping funds in a bank, credit organizations are introducing into practice other types of demand accounts. For example, the so-called "nau-accounts" (Negotial Order of Withdrawal, NOW-accounts - a reversible order to withdraw funds), common in the United States, allow the account holder to issue settlement bills of exchange (drafts) that serve as a payment instrument (similarly bank checks), and at the same time get more high percent to the balance of the bank account. In Russian practice, "nau-accounts" are not used due to the underdevelopment of the circulation of the corresponding transferable instruments.
To increase the amount of interest income received, demand accounts with a fixed minimum size balance of funds. In this case, in the agreement concluded by the bank with the client, a limit is set, below which the amount of funds stored in his account cannot fall. When the funds on the account are depleted, the depositor must replenish it in order to carry out expense transactions from the account and in the future.
To increase the interest of customers in keeping the established minimum balance of funds in the account, they may be offered preferential terms obtaining loans, reducing the amount of commissions for servicing an account, etc.
A variety of demand accounts, which is becoming more widespread, are special card accounts opened for holders of bank cards. Spending funds from special card account is carried out within the spending limit (for payment cards) or within the credit line granted to the account holder and the spending limit (for credit cards).
Correspondent accounts are another type of demand accounts. These accounts cannot be opened by individuals or businesses, they are opened exclusively for credit institutions central bank country - in its settlement network (in the RCC) or other credit institutions. The concept of a correspondent account is essentially similar to the concept of an enterprise current account.

More about Demand Accounts:

1. § 3. Liabilities of joint-stock commercial banks. - The role of own capital, deposits, rediscount and remortgage, correspondent accounts. - Funds of the treasury in the liabilities of banks. - Foreign capital in the liabilities of banks.
2. 1. Demand deposits, their purpose and features
3. Methodology for calculating adjustments for risk arising in the course of operating activities, when assessing the value of a commercial bank
4. Bank account agreement as a civil law means of ensuring non-cash payments using electronic means of payment

- Copyright - Advocacy - Administrative law - Administrative process - Antimonopoly and competition law - Arbitration (economic) process - Audit - Banking system - Banking law - Business - Accounting - Property law - State law and management - Civil law and process - Monetary circulation, finance and credit - Money - Diplomatic and consular law - Contract law - Housing law - Land law - Suffrage law - Investment law - Information law - Enforcement proceedings - History of state and law - History of political and legal doctrines - Competition law - Constitutional law - Corporate Law - Criminalistics -

Studying the terms of the deposit offer from the bank, you can find information that in case of early termination of the contract, the deposited amount will be charged a rate on the “On Demand” deposit.

What is a Demand Deposit? Every bank in Russia has a similar offer. And the reason for this is by no means a desire to divorce a client, but a need. The account itself acts as a buffer and is needed for many operations. Consumer financial services may not be aware of the real role and purpose of this option.

Why do you need a deposit "On Demand"?

For enrollment financial resources for a term deposit. Quite true for a new savings account and for a deposit that is being rolled over. Some banks use the deposit "On Demand" before the receipt of money on the deposit. Sometimes such storage is needed to prolong the contract. The client is given from 1 to 3 days to confirm the renewal or closing of the account.

In the absence of prolongation, the funds are credited to the deposit at 0.01%. Sometimes financial institutions warn that the “On Demand” deposit will be opened in such a case.

To transfer funds. Quite often, various enterprises use this tool for payroll, bonuses, pensions and other things. The buffer is often used by banks when money transfers, including from card to card.

For other financial transactions. It's about conversion. electronic money, interest on deposits and securities. Also, a similar deposit is used to transfer money from the sale of shares, precious metals and other valuables.

Terms of deposit "On demand"

You can open it in any bank. And the requirements in all financial institutions are the same, with the exception of some points.

1. The minimum amount to open an account is from 0 to 10 rubles. In some cases - 100. This is also an irreducible balance. That is, the client must leave the specified amount in order to be able to continue using the service. Otherwise, the account will be closed.
2. There are no time limits. The account can be closed at the request of the client.
3. Partial use of funds is allowed. You can withdraw any amount at any time. But you need to leave a minimum balance on the deposit. Some banks issue a requirement for large amounts. Withdrawal requests must be submitted in advance. Sometimes a commission is provided for partial withdrawal of funds and cashing out from the “On Demand” account, for example, in UniCredit Bank (1-5%). At the same time, the client can transfer money to the card and use it without additional costs.
4. The interest rate is almost always set at minimum level. Typically 0.01%. Some banks, such as Binbank, offer 0.001%.
5. The payment of interest, in almost all cases, is carried out quarterly.
6. The bank can change the interest rate in unilaterally without notifying the customer.
7. Opening available currency deposits"Poste restante". Most often, the minimum amount is from 0 to 5 USD/EUR. For example, Sberbank allows you to keep 9 more currencies on your account. True, they are not available in all branches.

Some banks offer deposits that are similar in terms of terms to the "On Demand" deposit.

Usually these are various pension and salary projects. They work, as a rule, with the Russian ruble.

Among these financial institutions include Sberbank and Tinkoff Bank.

The Ural Bank for Reconstruction and Development offers two types of deposits "On Demand".

1. A rate of 0.1% is available for a regular account.
2. For recipients of pensions, wages and social benefits, a rate of 4% is offered.

Citibank offers a savings account. All the benefits of the "On Demand" deposit are retained. But the interest rate on the account is 3-7% (rubles) or 0.01-0.05% (US dollars).

"Russian Standard" offers a rate of 6% on the "On Demand" deposit. This percentage is valid for amounts from 30,000 rubles.

Advantages and disadvantages of the deposit "On demand"

Among the advantages are the following.

• Perpetuity. The deposit can be opened once to use it for any period of time.
• Partial withdrawals are almost unlimited. Savings are available to the client at any time (working).
• Low limit of the minimum opening amount and minimum balance (from 0 to 10 rubles / 5 dollars or euros).

The disadvantages include:

• low interest rate (0.01% or 0.001%);
• the right of the bank to unilaterally change the rate.

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Deposit programs of banks differ in terms and terms of attracting funds. For getting maximum income the contribution is placed on long term without the possibility partial withdrawal or replenishment.

However, there are situations when funds simply need to be saved, but they can be needed at any time. Then it is better to place funds in the “on demand” deposit, which is offered by all credit institutions and has its own advantages and disadvantages.

A demand deposit is an investment of funds into a bank account without a fixed period, with the possibility of replenishment and withdrawal at any time and in any amount at the request of the client.

Such programs are not the most popular in credit institutions because it is not possible to receive income from the transaction. The maximum amount of interest accrued on the account is 1% per annum. The account is usually opened in rubles, it is possible to deposit funds in dollars or euros.

In case of early termination of the deposit agreement, interest is accrued on the “demand deposit”, i.e. this is the minimum amount of income that the depositor can receive when placing funds in a bank account.

main destination

The purpose of these investments is to preserve savings and be able to use them at any time. For example, a client has sold his own apartment in order to purchase a new one, but has not yet chosen the purchase option.

The proceeds are placed in the bank, this ensures their safety and security. When making a deal to buy a new home, money can be transferred to the seller's account or withdrawn in cash at any time.

The only restriction will be the need to apply in advance for the withdrawal of a large amount of money. Usually, the application is submitted the day before the operation.

Funds can be invested not only in demand deposits. The alternative are:

1. Rent safe deposit boxes. The client rents a cell in the bank and stores any documents, money in it, i.e. disposes of it at his own discretion. The service is provided for a fee, while the credit company pays for the placement of money in the account.
2. Investments in deposits with the possibility of partial withdrawal or replenishment. Restrictions on the use of such programs is the need to ensure a minimum balance on the account in the range of 10-20 thousand rubles, replenishment is also made not less than the amounts specified in the contract.
3. Using a savings account. Owners debit cards have the opportunity to receive up to 7-10% per annum on the balance of funds in the savings account. Banks also set restrictions on the use of the account: it is necessary to have a permanent balance in a certain amount.

The only option to place funds without conditions, without paying Additional services, with the possibility of accumulation or withdrawal, is the opening of a deposit "on demand".

Differences from classical contributions

The principles for placing funds in deposits in banks are determined accounting policy companies, in general they are the same for all structures. The procedure for accruing interest does not differ from standard deposit programs, the beginning of accrual is the next day after the placement, the end is the day the funds are fully withdrawn from the account.

The frequency of accrual is determined by the credit institution, it can be monthly, quarterly, semi-annual. As a rule, interest is attached to the body of the deposit.

The main difference between placing funds in a demand deposit from classical deposit programs is the fact that the bank does not restrict the depositor's rights to manage the account. He has the right to replenish and withdraw money from him in any amount, at any time.

This right is defined in Art. 837 of the Civil Code of the Russian Federation:

Funds on the accounts of individuals, regardless of the type of placement, are insured with the Deposit Insurance Agency. The safety of investments is equally ensured.

What is the demand rate on a deposit?

The program works in commercial banks and credit institutions with state participation. The deposit rate starts from 0.01% per annum, regardless of the placement currency.

Conditions for large banks:

1. Sberbank. The rate is 0.01%, taking into account capitalization. The value of the minimum balance is 10 rubles, 5 dollars, 5 euros, or their equivalent in other currencies, interest is calculated quarterly.
2. VTB. Interest 0.01%, minimum account balance is not set, replenishment is unlimited, unlimited. Interest is capitalized on 91 days. The Bank does not provide for the possibility of a separate opening of a deposit, the program works only within the framework of existing deposits in case of early termination of contracts.
3. Rosbank. The rate on the deposit is 0.01% per annum, the currency is rubles, dollars, euros. Interest accrual period – annually, registration via internet bank is possible.
4. Alfa Bank. Interest is charged at the rate of 0.01% per annum, not provided in all regions of the Russian Federation. The deposit allows you to make payments and transfers, currency conversion. It is possible to open in 5 currencies: rubles, euros, dollars, yen, British pounds.
5. Gazprombank. Interest 0.01% per annum, opens in three currencies. There is no limit on the maximum term, the amount of replenishment and withdrawal. Interest is calculated quarterly.

By banking offers it becomes clear that it will not work to receive income from placing funds in a demand deposit. Young commercial structures may offer a higher rate on demand deposits in rubles, but the profitability and necessity for the client of such a transaction is an ambiguous point.

An example of calculating and calculating interest

To calculate the estimated income, you can use the calculators that are posted on the websites of banks. You will need to enter the amount of investment, the period, if necessary, the frequency of replenishment and withdrawal of funds.

As an example, the deposit calculator in Sberbank is given:

Thus, with an investment of 1 million rubles. per year, the income from the transaction will be 100.27 rubles. This value not only does not allow to make a profit, but also to compensate for inflation. Therefore, it is not advisable to place funds for a period of more than 3-4 months on a demand deposit.

The best option is to conclude a fixed-term contract at an increased percentage. If an early withdrawal of the deposit is required, the depositor will be provided with income at the “on demand” rate. Either way, he has nothing to lose.

Demand deposit - advantages and disadvantages

For banks, these programs have good advantages - they get the opportunity to use the placed funds of individuals almost free of charge. Due to the fact that the term of the contract is not defined, credit companies cannot place resources in the most liquid operations, but they are provided with a stable, low income.

For depositors, the programs also have their advantages and disadvantages.

Advantages

The investor, placing his own funds, ensures their safety and security. In any case, he will be provided with income at the “on demand” rate, even in case of non-compliance with the terms of the contract, with any investment program.

Product advantages:

• the possibility of unlimited withdrawal or replenishment at any time of the contract;
• the contract is concluded indefinitely, it does not need to be re-executed, prolonged, etc.;
• there is no minimum opening threshold;
• online registration is possible;
• from the account you can make money transfers, make payments;
• depositors' money is insured by the state.

Flaws

This product is not an investment income program, so a low interest rate cannot be called a disadvantage. These are the conditions for placing and maintaining the client's savings. Higher interest rates are offered by not entirely reliable structures.

The disadvantages include the fact that not all banks accept funds by separate program, often an account is opened simultaneously with a term deposit and it is impossible to simply deposit money into the account “on demand”.

Features of a savings account in a bank for legal entities

An analogue of settlement accounts for enterprises and organizations are accounts with interest on the balance. They have the same capabilities: you can make transfers from them, withdraw cash, replenish by any means.

At the same time, interest will be accrued on the minimum balance of funds. Their value is in the range of 1-5% per annum. This service is not offered by all credit companies.

The owner of the account uses it at his own discretion, carries out any kind of operations without restriction. But in order to accrue interest on the balance, certain conditions must be met. For example, Rosbank charges interest on a daily balance on a current account over 300 thousand rubles, an interest rate from 0.25 to 1.50%. Sobinbank's rate is 1-2.25% per annum.

Young businesses may offer more high stakes, but before opening an account, it is necessary to compare the risks of the operation: the funds on the accounts of legal entities are not insured by the state, therefore, if the bank has problems, the enterprise may be left without its own resources.

Additionally, when connecting to income-generating current account programs, you should analyze the fee for their maintenance. As a rule, an increased tariff is offered for such services.

If a legal entity has free funds, it is better to place them in deposit programs of credit companies.

Answers on questions

How is interest calculated on the account balance for legal entities?

The method of calculating interest is chosen by the bank. Three options are possible:

1. Accrual on the minimum minimum balance for a certain period, for example, for a month, quarter, etc. The bank will determine the amount of money that is permanently on the account and accrue income interest on it.
2. The balance at the end is taken into account business day for a specific time (3, 6, 12 months). If during this period the balance drops below the set amount, no interest will be accrued.
3. Interest is accrued when the daily minimum account balance is exceeded.

What documents are required to open a demand deposit for individuals?

To conclude a contract, only a passport is required. If the client is not in the bank's database, the SNILS number and contact details may be required.

How can I open a deposit?

Today, you can open a deposit at a company representative office or online. Opening via the Internet is available for registered users.

Must have Personal Area on the bank's website with a card linked to it, from which funds will be transferred. In some banks, you can open a deposit by calling the Customer Support Center and going through the identification procedure.

Conclusion

Demand deposits in Russia are not a way to earn money or receive passive income. Their goal is to save money and ensure its safety. Useful investment for short term, no more than 3-5 months.

If the money is not needed for more than 6-8 months, it is better to use term deposit programs, especially since even with early termination of the contract, the depositor will receive funds with a minimum income.

For legal entities, it is important to open settlement or other accounts in reliable and stable banking structures, regardless of what additional services and possible profits are offered by the credit institution.