When choosing a deposit, it is not only the annual interest rate that is important.
Associate Professor of the Plekhanov Russian University of Economics Meri Valishvili shared advice on opening deposits.
In a conversation with the Prime agency, the expert recommended that investors first of all study the conditions in order to avoid risks.
The specialist noted that against the backdrop of the Central Bank’s plans to raise the key rate, banks will begin to attract depositors with special offers on the eve of the New Year and Christmas.
Among the abundance of various tempting options, it is important to be able to find the least risky ones.
First, you should look at the information about average deposit rates. This information is published on the Central Bank website.
If the rate on a specific deposit is significantly higher than the key rate, then we are most likely not talking about a systemically important bank.
This means that opening a deposit in this case is risky.
The expert also advises combining savings and fixed-term deposits.
In the first case, you will be able to quickly manage your funds, receiving interest on the balance.
And the second will allow you to receive maximum income.
If we choose one option, then the cumulative one is preferable now, since there is still no exact idea of what banks will do after the Central Bank’s decision on the key rate.
In January, term deposits may become even more profitable, so it will be possible to redirect income from a savings account to them, the expert concluded.
Author: Dmitry Bobrov
