Russia (bbabo.net), - Bank deposits rarely make money. But they help to protect their money - from thieves, their own extravagance and, most importantly, from inflation. Maksim Kvasha, an expert at the Center for Financial Literacy of the NIFI of the Ministry of Finance of Russia, told Rossiyskaya Gazeta about what to do in the face of rising rates, as now, when the Bank of Russia raised the key rate to 9.5% per annum.

The key concept for the investor is the real interest rate (nominal rate minus inflation). Either established when it comes to evaluating past investments, or expected when you think about them. If the real rate is positive, money can be saved from depreciation and even earned a little, negative - alas, no, but the losses are less than if they were under the mattress, emphasizes Kvasha.

Recently, real interest rates on deposits have been rather negative. Inflation turned out to be higher than expected. In general, those who opened deposits a couple of years ago, somewhat lost to inflation. The tightening of monetary policy has led to the fact that nominal rates have risen sharply, now real rates on deposits are close to zero or even higher.

"And now the question is - what will happen to inflation next? If you think that it will be possible to return it back to 4% - the goal of the Bank of Russia, then deposits at current rates are profitable, they will show a real yield of 3-4% per annum, which is a lot for this It makes sense to fix this profitability - to open a deposit for the longest possible time, "Kvasha advises. If you think that inflation will continue to grow, your strategy is short term deposits, the expert continues. It will be possible to keep the real rate near zero, to minimize losses. And here, according to Kvasha, one of the most convenient tools is a deposit card with interest on the balance or a savings account attached to it, the interest on which varies depending on the situation.

Always keep in mind that the terms of the deposit are not only the interest rate that the bank focuses on in its advertising, the expert warns. In such products, extremely significant nuances are masked. For example, in advertising and marketing materials, a rate of 8% per annum may be mentioned, but in small print it is indicated that it is valid only for the first six months, and then, say, it turns into 5%. "Recalculated, it turns out that this is one of the worst offers on the market if you invest money for a year. Sometimes an increased rate is given only to those clients who draw up an investment or insurance product. For them, money is frozen for a long time, and income is not guaranteed," - the expert points out.

According to Kvasha, the nuances of the deposit, which reduce its attractiveness, can be as follows: interest can be accrued quarterly, not monthly; the rate can be floating and tied to the monthly amount spent on the card of the same bank; replenishment or withdrawal of money from the account may be limited - taking into account this condition, a deposit with a lower nominal interest rate, but with monthly capitalization of interest, may turn out to be much more profitable, especially with long-term savings planning.

How to make a deposit financially competently

1. Check the presence of a credit institution in the register of banks participating in the compulsory deposit insurance system.

2. Do not sign the contract immediately after talking with the manager. Take a break to fully understand its terms. Sometimes credit organizations offer under the guise of a contribution ILI or other complex financial products: mutual funds (mutual investment funds), investments in securities, non-state pension agreements, IIS (individual investment account). Nobody argues that all these instruments can potentially be more profitable than a deposit, but few of the managers tell the client that the risks for them are incomparably higher than for deposits (all deposits up to the amount of 1.4 million rubles are insured by the Deposit Insurance Agency) . It is possible that the contract may also contain penalties if you withdraw funds ahead of time, and also provides for a difficult procedure for terminating the contract - you will not be able to immediately withdraw your money if you suddenly need it promptly.

3. Understand what is the minimum guaranteed rate and what are the conditions for obtaining a higher interest rate.

4. Compare the basic data on the deposit with the offers of several other large banks.

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