Expert names the most favorable deposit term for Russians
The founder of the Kredchek service, Elman Mekhtiev, revealed the most favorable term of the deposit.
He stated that now it is best to open a deposit for a period of 7-8 months.
In the context of further growth of inflation, the increase in the key rate will make deposits more profitable, the article of the Prime agency emphasizes.
With stable inflation, the deposit rate will depend on the term. The longer the term, the higher the rate.
Now the rates are high for short terms and fall for long ones, the expert emphasized, speaking about the most favorable term of the deposit.
Mekhtiyev also called for having a financial cushion. Savings that exceed six months' expenses can be placed on deposit.
The expert advises choosing accounts where interest is accrued daily.
He also reminded that the state guarantees the safety of only up to 1.4 million rubles.
Therefore, when choosing the term of the deposit, you need to take into account your financial capabilities and current market conditions.
Frequently Asked Questions (FAQ)
What is a bank deposit?
A bank deposit is a sum of money transferred by a person to a credit institution in order to receive income in the form of interest.
What is the most profitable deposit term now?
At the moment, experts recommend opening deposits for a period of 7-8 months.
Why is the term of the deposit important?
The longer the term of the deposit, the higher the rate. However, in unstable conditions, it is better to choose short terms.
What is the key rate and how does it affect deposits?
This is the rate at which the Central Bank provides loans to banks. Changes in the key rate affect interest rates on deposits.
What is a financial cushion and how does it help?
A reserve of money for about six months to help with unexpected expenses
