среда, 13 июля 2011 г.

What is a deposit and why do you

The word "deposit" means money deposited with the bank and be returned at a certain time under certain conditions.

Depending on the term deposits are divided into two categories: the first of which includes deposits "on demand" and the second - term deposits.

Deposit "on demand" are those funds that a depositor at any time can take away from the bank - moving them to another person or organization, or turning into cash over the counter or ATM. This category belong to the funds on your currentaccount.

Among fixed-term deposits, in turn, there are three types: short, medium and long term. The former is traditionally include contributions for the period from 1 to 3 months, the second - for the period from 3 to 9 months, the third - for a longer period. Deposits in this category, you can get back only after a certain period of time.

What is the meaning of the transfer of its funds on deposit to the bank?

Without discussing the issues of safe storage of cash in the closet, the toilet tank and under the mattress, we go straight to the point.

For the use of depositors' funds (which are transformed into loans to other customers), the bank pays them compensation in the form of interest. Thus, the funds on deposit generate revenue to its owner. Methods of interest are different: at the end of the period and with a certain period, with and without capitalization. Let us examine these points in detail.

Interest accrued at the end of the deposit, simply added to the deposit amount, before he returned to the client. For example, placing the 300 raccoons for 1 year at a rate of 10% per annum, you will receive in a year 300 + (300 * 10%) = 330 raccoons. Similarly, accrued interest on the funds that you hold on your checking account. Once a month or once a day at the same time information system verifies the bank how much money is left in your account, and charges them interest on the basis of the current for current-account interest rate (it is substantially lower than rates on term deposits). The total amount of interest accrued on the account appears, usually once a month.

Interest on term deposit can also be transferred to your checking account every month, quarter or year. The sum of the contribution does not change, but you get him a regular income. For example, in the example above, under the same conditions of the deposit, but with monthly interest payments, the investor will receive (300 * 10%) / 12 = 2.5, raccoons every month, and at the end of the deposit - and their 300 raccoons.

The described examples refer to the method of interest calculation, without capitalization. With capitalization of interest is a monthly, quarterly or yearly addition of accrued interest to the deposit amount, and in the next period, interest is charged is already on the overall amount. That is, if you use the same example with the capitalization of interest on a quarterly basis and the disbursement of funds at the end of the deposit, we get:

1. 300 + (300 * 10%) / 4 = 307.5 raccoons at the end of 1st quarter
2. 307.5 + (307.5 * 10%) / 4 = 315.18 raccoons at the end of 2nd quarter
3. 315.18 + (315.18 * 10%) / 4 = 323 raccoon at the end of third quarter
4. 323 + (323 * 10%) / 4 = 331.07 raccoons at the end of the deposit.

The difference in the 1.7 compared to the raccoon variant without capitalization is insignificant, but when your very raccoons fatness, it could be substantial.

There are also deposits, which allow dovlozhenie means of contribution. In this case the interest amount will be increased proportionately.

The only thing under any circumstances do not make a deposit - this is to take it early. Typically, in this case, the income from it will be approximately equal to the income from its equivalent in the current account. So, before you allocate some money on this investment, make sure that during this time she did not need you urgently.

It is also necessary to remember the following important point. The maximum interest rate on deposits in rubles in the Russian Federation should be less than the amount, called the refinancing and established the Central Bank. Its size can always be found on the website of the Central Bank or of special documents. If the interest rate on your contribution exceeds this amount, the difference you have to pay a tax of 35%. So, if you place a deposit for a year at 11% for the refinancing rate of 10%, then your real income will be 10.65% (11 - 1 * 0.35)

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