Features of demand deposits. Characteristics of time and savings deposits. Demand accounts Under what conditions can you open

If a citizen has free funds, but he does not know when he will need them, you can open a demand deposit. The service will help you preserve your capital and increase it. Opening this type of deposit will allow you not to lose access to funds. You can withdraw the amount transferred for storage at any time. The service has a number of other features that you should familiarize yourself with before transferring capital to a bank.

Definition of the concept

A demand deposit is a type of deposit that is opened for an indefinite period of time. Having transferred the funds to the company, the client will be able to pick them up at any time. There is no withdrawal restriction. The financial institution charges a small interest for keeping capital.

The deposit practically does not bring income to the client. However, in accordance with the regulations of the Civil Code of the Russian Federation, the proposal is called a contribution. When transferring money to the bank, the client must first conclude an appropriate agreement with the financial institution. Based on the provisions of the agreement, the owner of the funds has the right to make cash transactions with money, as well as make money transfers in order to replenish the deposit. This is the main difference between the service and a standard bank account. The latter is created only for the implementation of settlement and cash transactions.

Distinctive features of the offer

Having decided to open a demand deposit, a person will find out that the offer practically does not differ from other bank deposits. As with other types of deposits, the funds will be deposited with the bank. A financial institution uses capital for its own purposes and charges interest on them, which increases the amount of money on the account. However, a number of significant differences still exist:

If you close the demand deposit at any time, the loss of accrued interest does not occur. When storing time deposits, this rule does not apply. The terms of the contract usually stipulate that the amount of income will be significantly reduced.
If a person decides to withdraw money from a demand deposit, there is no need to warn the bank about this. Sometimes you can transfer capital remotely. Usually, an offer implies a need to notify the company in advance. To do this, you need to visit the office of the institution and write an application.
You can withdraw a demand deposit in the same currency in which it was deposited. Other types of deposits are paid only in rubles.

A demand deposit of Sberbank of Russia or in another financial institution is usually not opened for making money. Therefore, the amount of income for keeping capital is minimal.

It is not uncommon for people to use demand deposits to transact with large amounts of capital. The deposit allows you to access your account at any time. To boost your earnings, some financial institutions charge additional fees for withdrawing capital and depositing additional funds into an account.

A demand deposit is insured without fail. If the bank goes bankrupt, the owner of the funds will be entitled to compensation. Its provision is regulated by Article 837 of the Civil Code of the Russian Federation. If the company refuses to reimburse the lost capital, it can be returned in court.

Bank benefit

For banks, providing demand deposits is a lucrative service. The client's funds are turned over 30 to 50 times a year. This figure is the highest. The bank distributes the client's capital as follows:

most of it is used in the form of cash;
a certain amount of money is invested in securities issued by the state (short-term);
part of the funds goes to lending to individuals.

For a bank, an offer is a way to get cheap investments. However, in providing a service, a company is forced to take a certain risk. So, the owner of the deposit can apply to the organization with a demand for the return of all investments. And in this situation, the financial institution will be forced to withdraw previously made investments in financial instruments. Due to the high risks, the cost of such deposit programs is greatly reduced.

Why do individuals open such deposits?

If a person wants to make money in a passive mode, he usually opens time deposits. Demand deposits are created for the following purposes:

Protection of funds. The capital is insured against losses.
Perpetual storage of funds. A deposit is used if a person does not know when he will need capital. You can store funds for any period of time. Sometimes a demand deposit becomes a family budget. He can be inherited. To do this, the owner of the capital will need to issue a testamentary disposition.
Accumulation of funds in foreign currency. I can open a demand deposit only in rubles. Today there are dollar deposits, as well as accounts opened in pounds, euros, francs and other monetary units.
Free checking account. Typically, maintenance fees are charged for creating a classic checking account. A demand deposit allows you to carry out similar transactions without paying a fee.

Sometimes banks set additional conditions. For example, an offer from VTB24 implies a minimum top-up amount. Its size is 100 rubles.

Under what conditions will it be possible to open?

The conditions under which a bank demand deposit is opened are identical in almost all financial institutions. The service has the following features:

the renewal is performed automatically. The action is carried out once a year;
there is no service fee;
the client has the right to receive the capital transferred for storage at any time;
you can replenish your account without restrictions.

The bank does not impose requirements on the minimum account balance. Minimum interest rates are set on the proposal. Their size varies from 0.001% to 1.5%. Finding an offer implying a higher profit will not work. It will be unprofitable for the bank to provide such a service. A financial institution cannot make full use of the money deposited and receive income from it. However, up to 17% of the credit profile of financial institutions is formed from time deposits.

Where can I create a deposit?

Interest rates on demand deposits may vary. They depend on the internal policy of the selected bank. You can use the service by contacting:

Sberbank. An account can be opened in rubles or foreign currency. The money is deposited for an unlimited period. The minimum contribution is 10 rubles or 5 conventional units. You can add additional capital to your account without restrictions. The client can withdraw the savings in whole or in part at any time. In order for the account not to be closed, an amount equal to the minimum balance must remain on it. It is 10 rubles. or 5 conventional units. Income is accrued at a rate of 0.01% per annum. The action is performed once a quarter. Interest is capitalized.
Rosselkhozbank. An account can be opened in rubles, dollars or euros. Regardless of which currency is chosen, the amount of income will be 0.01%. Profit is accrued once a quarter. Money can be withdrawn at any time. However, at least 10 rubles must remain on the account. The storage period for funds is not limited.
Sovcombank. The company will agree to open a demand deposit if the person provides at least 100 rubles. Cash income is accrued in the amount of 0.1% per annum. If there is a need, the owner of the funds can withdraw or contribute additional capital. The contract has no validity period.
Credit Bank of Moscow. The deposit is allowed to be made for a person who is over 14 years old. The amount of income will be 0.1%. The contract can be terminated at any time. There are no restrictions on the withdrawal and replenishment of the account.

A demand deposit allows the borrower to make a profit in a passive mode. The main advantage of the service is the possibility of prompt access to funds. You can withdraw capital or deposit additional money into your account at any time. Sometimes financial institutions charge a commission for taking an action. The peculiarities of cooperation with the owner of funds depend on the internal policy of the financial institution.

Dec 26, 2017 Sergey

Bank deposit(or bank deposit) - the amount of money transferred by the depositor to a credit institution-bank for a certain or unspecified period in order to receive income in the form of interest generated in the course of financial transactions with the deposit.

A bank deposit of an individual means monetary funds denominated in Russian or foreign currency, which the depositor deposits with the bank for the purpose of storing and receiving income in the form of interest (clause 1 of article 834 of the Civil Code of the Russian Federation).

The bank deposit agreement must be concluded in writing and reflect the conditions on the amount of the deposit, the currency of the deposit, the procedure for calculating interest, the procedure and timing of the return of the deposit, and others (clause 1 of article 836 of the Civil Code of the Russian Federation).

The deposit is the bank's debt to the depositor, that is, it is subject to return.

Types of deposits

The types of deposits currently offered by commercial banks are conditionally divided into several groups, depending on the purpose of the depositor planning to place funds.

The main types of deposits offered by banks are as follows:

time savings deposits;

savings deposits;

demand deposits;

multicurrency deposits;

specialized deposits;

deposits in precious metals.

Time savings deposits

When making time savings deposits, the deposit is placed for a certain period.

The advantages of time savings deposits are the high interest rate and the ability to perform additional functions for managing the deposit:

partial withdrawal of funds;

early closure of the deposit;

interest monetization.

In addition, term savings deposits provide for the capitalization of interest, that is, every month (quarter), interest on the deposit is added to the principal amount of deposits and the next accrual takes place taking into account the amount of capitalized interest.

Savings deposits

When registering savings deposits, it is possible to accumulate the required amount of money for specific purposes.

The advantages of such deposits are the ability to replenish the deposit at any time during the period of the deposit, and the system for prolonging the deposit.

That is, if the depositor, at the end of the term of the deposit account, does not apply to the bank, the deposit is automatically extended for the same period with the rate in effect at the time of prolongation.

Demand deposits

Demand deposits are used by depositors who want to keep their money in the bank and at the same time be able to use their savings at any time.

Demand deposits (or term deposits) do not have a strictly specified storage period for funds, and the depositor can access his funds at any time.

The disadvantage of such deposits can be called a low interest rate in comparison with other types of deposits.

Multicurrency, "specialized" deposits and deposits in precious metals

Deposits in commercial banks can be placed in national and foreign currencies and precious metals.

Multi-currency deposits

When making multicurrency deposits, the amount of the deposit in one currency can be converted at any time at the bank's rate into the currency of another deposit.

Deposits in precious metals

When making such a deposit, the depositor buys precious metals from the bank, which are not handed over to him, but are credited to the client's deposit account.

Specialized deposits

Many banks offer their clients so-called "specialized" deposits.

These types of deposits are provided for certain categories of citizens: pensioners, single mothers, children from large families, etc.

Pension or social contributions, as a rule, have preferential conditions for placing, replenishing and saving funds: the minimum initial amount, the possibility of cashless replenishment from pension (social) accounts, an increased interest rate, etc.

Deposit storage terms

The term of deposit storage can be from one day to several years, and the longer the term of the deposit, the higher the interest rate.

Essential terms of the bank deposit agreement

The bank deposit agreement must contain the following conditions:

1. The amount of the bank deposit.

The amount of a bank deposit is the amount of money that the depositor deposits to the bank and on which interest is accrued in accordance with the terms of the agreement.

2. Term of the bank deposit.

Bank deposit term - the term during which the depositor's funds are kept in the bank. The term can be specified in days, months, or years.

Based on the timing of depositing funds to the bank, deposits are divided into "demand" and "time" deposits.

Demand deposits are not limited to the term of placement and are issued to the depositor on demand.

"Time" deposits are issued after the expiration of the term specified by the agreement (clause 1 of article 837 of the Civil Code of the Russian Federation);

3. Currency of the deposit.

Banks can place deposits in rubles or in foreign currency.

A mixed deposit is called a multicurrency deposit.

For a multicurrency deposit, the placement of funds and the return of the deposit can be made in various currencies at the choice of the depositor.

In addition, funds can be deposited in precious metals.

When opening a deposit in precious metals, the bank opens a special metal account for the depositor.

The profitability of such a deposit is determined depending on the market prices for precious metals.

4. Interest on the deposit.

The contract must indicate the interest rate on the deposit, expressed as a percentage per annum.

The interest rate is the depositor's income, which is paid by the bank for the temporary use of funds placed in the deposit.

The interest rate is determined as a percentage of the amount of the deposit for a certain period of time.

The interest rate can be either fixed or floating.

The floating interest rate depends on changes in a variable stipulated in the agreement, for example, the refinancing rate (key rate) of the Bank of Russia.

Interest on a deposit can be accrued in two ways:

Interest is calculated on the initial deposit amount without taking into account the interest accrued on it (simple interest method);

Interest is calculated on the amount of the deposit, taking into account the previously accrued interest (capitalized interest method).

At the same time, the amount of interest on time deposits cannot be reduced by the bank unilaterally (clause 3 of article 838 of the Civil Code of the Russian Federation).

On demand deposits, the bank has the right to unilaterally change the size of the interest rate, if this is not prohibited by the deposit agreement (clause 2 of article 838 of the Civil Code of the Russian Federation).

5. Procedure for the return of the deposit.

If the depositor does not return the amount of the term deposit at the end of the deposit placement period, then the agreement is considered extended on the terms of a demand deposit, unless otherwise provided by the agreement (clause 4 of article 837 of the Civil Code of the Russian Federation).

If the term deposit is returned to the depositor at his request before the end of the deposit placement period, then the interest on the deposit is paid as on demand deposits, unless otherwise provided by the agreement (clause 3 of article 837 of the Civil Code of the Russian Federation).

6. Replenishment and partial use of funds deposited in the bank.

The bank deposit agreement may provide for the possibility for the depositor to replenish the deposit or partially spend the deposit funds.

Partial spending of funds from the deposit is carried out up to the minimum amount of the initial contribution established for this type of deposit.

If, when spent, the balance turns out to be less than the minimum amount of the initial payment, then in this case the deposit agreement will be considered early terminated.

7. Additional services of the bank.

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Deposit: details for the accountant

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...: the plaintiff's transfer of funds to the court's deposit in the amount of at least ... form - transfer of funds to the court's deposit - actually neutralizes the effect of accepting ... an amount equivalent to additional tax charges on the court's deposit. So and so, but ... 94 of the APC RF) makes the required amount to the court's deposit (which, as ...
IFRS 16 "Rent": problematic issues of the application of the standard and automation of calculations based on the SAP product
From the terms of the contract: whether the deposit is refundable after the expiration of its term ... payments. In the first case, such a deposit should be recognized as a financial asset ... in the form of a right-of-use. If the deposit is non-refundable, then its amount must ...
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Retrieved January 2020. The deposit will be registered ...
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...). Both a loan and a bank deposit (deposit) involve independent investment actions ...

Demand deposits are considered a very popular banking service, which allows you to store personal savings in a deposit account with the possibility of free access to funds. Such deposits are rarely used to increase capital, but are an excellent way to safely store funds.

If you open a demand deposit, it will be possible at any time both to replenish the account and withdraw the required amount. Such services have a number of features, advantages and disadvantages, which we will discuss in more detail below.

Such banking services can come to the rescue in several cases. He will try to consider in more detail the situations when it is worth opening a demand deposit.

Terms of demand deposits

The conditions for opening and using demand deposits differ significantly from time deposits. Such a deposit can be opened using a minimum package of documents.

In this case, the depositor can at any time extend the validity of the account. If there is a minimum limit on the amount of the balance on the account, then, in case of violation of this limit, the account may be closed ahead of schedule.

What is the difference between demand deposits and time deposits

Demand deposits differ significantly from time deposits:

the depositor's income from such deposits will be minimal, since the bank cannot predict the amount of income from borrowed funds;
the depositor has the opportunity to replenish the deposit account at any time;
you can withdraw funds from the account at any time without penalties.

If time deposits are usually used to increase capital, then demand deposits are opened, in most cases, for storage or accumulation of funds.

How to open a deposit?

This service cannot be used for the purpose of earning on interest, since the size of the rate, in the case of opening a demand deposit, is minimal.

Main advantages

Demand deposits have many advantages. This financial service is very popular with depositors for several reasons.

Disadvantages of demand deposits

Demand deposits have not only advantages, but also disadvantages, which are hidden in the features of this service.

Low interest rate. The depositor's income when using this financial service will not be large. The profit from the minimum interest rate will be practically imperceptible, but such deposits are used not to increase capital, but to accumulate and store funds.
Risk of losses due to inflation. The minimum interest rate practically does not compensate for losses from insignificant annual inflation, and in the event of significant fluctuations in exchange rates, there may be large losses. If time deposits give depositors the opportunity to insure investments against such risks, then on demand deposits such an opportunity is not provided.

Also, some programs provide for the possibility of early withdrawal with the ability to save interest. The rate in such a situation can be at the level of 4-7% per year.

Despite the low interest rate, demand deposits are very popular among clients of many Russian banks. Such deposit programs enable depositors to keep their money safe in a bank account with free access.

When familiarizing yourself with the terms of any term deposit, you probably paid attention to the words: "in case of early termination of the agreement, the interest rate is charged on the deposit amount, which is valid for the" demand "deposit." In most banks, its average rate is very low and most often amounts to 0.01-0.5%. Let's see what constitutes a demand deposit?

The essence of the deposit "on demand"

This banking product is distinguished not only by its low rate. Its main feature is that the client is allowed to withdraw his funds at any time. Those. the bank and the depositor initially agree that the values transferred by the client to the bank are stored only until the moment when the owner claims them back. And none of the parties knows in advance the time frame for this case. Therefore, a distinction is made between:

Term deposits, which have a certain storage period prescribed in the contract. The profitability of such a deposit sometimes reaches 14% per annum in rubles.

Demand deposits that do not have a specific term. And this is one of the terms of the agreement signed by the bank and the client.

Despite the almost zero profitability, this product is nevertheless called a deposit, because a deposit agreement is signed (and not a bank account agreement, in accordance with the Civil Code), according to which the values are transferred to the bank for their savings. It has its own number (the first five digits of the account - 42301 for residents, 42601 for non-residents), which differs from the current account of a private person (starts with 40817 or 40820). Usually, payments are not made from a "demand" deposit, such as from a current account. Only transfers to the owner or cash transactions are provided.

The basic conditions for opening and keeping a deposit in different banks differ slightly. At VTB 24 bank: the minimum deposit is 100 rubles; annual rate 0.01%; capitalization monthly; deposit currency - rubles, US dollars, British pounds sterling, euros, Swiss francs. At Sberbank: the minimum deposit is 10 rubles, 5 euros or US dollars or any other currency; rate of 0.01% per year and does not depend on the type of currency; interest is added to the deposit on a quarterly basis, but is recalculated for each day. Conditions of the National Reserve Bank: the minimum contribution amount is not limited; for any currency the rate is 0.01%; there is a monthly interest payment.

There are credit institutions in Moscow where there are several higher rates on demand deposits: CB Genbank - 0.3% (paid annually, with capitalization), CB Renaissance Capital LLC - 0.5% (monthly capitalization), Fondservicebank OJSC - 1% (payment monthly, with capitalization), AKB Mosoblbank - 1.5% (payment monthly, with capitalization), Promservicebank LLC - for pensioners 3.5% (payment monthly, with capitalization).

Why do depositors open on demand?

It has already been said above about the most important advantage - the ability to withdraw your savings at any time, without time limits. With regard to the “on demand” account, the obligation of the bank to return the values to the depositor at his first request is spelled out in the Civil Code of the Russian Federation.

Imagine that you have just sold your property and are going to buy another one with the proceeds. The deal should take place in the next month or two. The exact date is not known. The amount is quite large, but it is impossible to find a bank deposit for such a short period, and money may be required at any time.

Demand deposits are funds that can be claimed at any time

This is just the right case for placing funds on a demand deposit. Your valuables will be saved, not wasted and returned on demand. Savings will also be multiplied, albeit by a small percentage, but still this is additional income.

There are many people to whom employers transfer their salaries to accounts on demand. Some of them briefly store amounts here before placing them on a term deposit or until cash withdrawals.

Elderly Russians are used to receiving their pensions through such deposits at Sberbank. In addition, Sberbank has several pension deposits with a yield of 1.5-5% and higher, which have all the signs of a "demand" deposit, i.e. the possibility of replenishment and partial withdrawal at any time without restrictions. Each day of storage brings additional income to the depositor. Pensioners withdraw part of the deposit every month, and interest is charged on the balance much higher than the usual 0.01.

Banks open such deposits not only in rubles. A credit institution can open an account in almost any currency in which it has correspondent relations with other banks. For example, a person has a certain amount in pounds sterling. He is going to pay for the child's education in the UK in the near future and has already chosen a bank to make the payment. Then the client can pre-open a deposit "on demand" in this currency until the moment when the transfer abroad is supposed. By the way, through this deposit you can make a non-cash currency exchange.

Some banks, when opening a term deposit, additionally give the client a “on demand” account. This usually happens when the terms of the term deposit do not provide for an extension. When the moment of contract closure comes, the savings not claimed on the same day are automatically credited to the “on demand” deposit. That brings the client additional small interest for each day of storage.

Why do banks need them?

The bank is essentially a commercial organization that sells an unusual commodity - cash. They buy money (in other words - attract in deposits, in settlements) from some and sell (or invest, lend, invest) to other legal entities and individuals. Therefore, like any commercial organization, income is influenced by the rate of turnover of its goods.

According to statistics, that part of the attracted funds, which is kept in banks on customer deposits "on demand", turns on average 30, and even happens 50 times a year. The conclusion of economists: funds "on demand" have the highest velocity of circulation. Managing their liquidity (the rate of obtaining full value), banks direct these funds into values, which are also "fast" in terms of turnover:

Most of it in cash, to your correspondent accounts with other banks, including the Bank of Russia,

A smaller part in short-term government securities,

And quite a bit in overdrafts or short-term loans, lending to borrowers.

For banks, this is one of the cheapest money that he buys for 0.001-4% per annum. The lowest rate is usually set for legal entities. Why so cheap? Because there is always a risk that the client will apply for his money to the bank at any time and the funds will be withdrawn from circulation unexpectedly. The exact date of their demand is not specified (in the agreement between the client and the bank) intentionally. The liquidity of bank assets will be sharply reduced in this case. After all, the funds that the customer-seller unexpectedly took from the bank, the bank itself cannot unexpectedly withdraw from the customer-buyer. It is for this risk that the “purchase” price has been reduced; deposit "on demand".

As practice shows, some of these deposits are not withdrawn from the accounts of their owners for a very long time, which makes these funds even more attractive for credit institutions. The share of demand deposits is very large compared to the total number of deposits with a fixed term.

See also: deposits of Sberbank of Russia - an independent review.

Oksana Lukyanets, for vkladvbanke.ru

Demand deposit - why does a depositor need such a product?

Opening a bank account and reading the terms of the agreement, you probably noticed that in case of early termination, interest will be charged at the rate of demand deposit. This is practiced in any bank in Russia, and such a rate is minimal.

Demand deposit

As a rule, such deposits bring their owners no more than 0.01% per annum.

What kind of contribution is this, and why is it needed if it is not able to bring income? Surprisingly, but, unlike many other deposit programs, "on demand" in one form or another exists in any bank. Moreover, it has always existed since the formation of the modern banking system. And this has its own meaning - this type of deposit is of great importance for the bank itself and the depositor.

Advantages

Before answering the question why, let's consider the advantages of a demand deposit

1. Perpetuity. The deposit, as a rule, has an indefinite character or is automatically renewed. This means that if a client has opened such an account at least once, it will exist for many years in a row. And when carrying out any operations (for example, when paying interest on a term deposit), the bank will not need to open a separate account.

2. An insignificant amount of the minimum balance, it can be 0 rubles or 10 rubles, as in Sberbank. This means that the depositor will not need to close the account and withdraw everything without a balance.

3. The minimum percentage. On demand accounts, very small amounts are often stored, and, given the tiny percentage, the bank does not need to spend a lot of money on such a deposit.

Why does the bank need such a deposit?

For the bank and the client himself, such a deposit, in fact, is an ordinary registered account, with the help of which any operations can be carried out. For example, a bank can:

carry out transactions of one type or another to transfer social benefits, pensions, even salaries (with the spread of social and salary cards, such a function for demand deposits is dying out);
make transfers from account to account at the request of the client;
pay interest on the deposit, if just such a form was chosen;
pay funds after the expiration of the contract or in case of early closure;
transfer funds from the sale of physical gold or gold from OMS, gold coins, stocks, mutual funds, etc.

A demand deposit is a universal account that plays an important role in carrying out a variety of transactions in the bank.

Why does a depositor need such a deposit?

Even before the introduction of salary, social, pension cards and the general spread of plastic, demand deposits were the main account of any person dealing with the state. For example, every pensioner, every adult who has a child or receives any social benefits, had a savings account of Sberbank. Today, this can be done with the help of plastic, but demand deposits remain useful. In addition to the functions listed above, the contribution will allow a private client to:

keep money in non-cash form without any obligations in terms of time;
make transfers to other accounts with a minimum commission;
receive transfers, salaries, benefits, dividends and other payments from the state, various organizations, individuals.

A demand deposit is not as convenient as a plastic card, but it is serviced completely free of charge, does not require re-issue, unlike a card, and does not need to be prolonged, unlike a deposit with a higher interest rate.

By the way, not all deposits of this kind have such a low rate as in Sberbank. In some banks, you can get a slightly higher interest on the balance of funds - 0.5-1%.

Deposit accounts and their classification.

The main sources of attraction of funds of KO.

Russian banks can form their resources at the expense of sources:

1) attracted budget funds

2) deposits of individuals and legal entities. persons

3) funds in the settlement accounts of enterprises

4) issue of own debt obligations

5) interbank loans

6) receiving interbank deposits

7) REPO transactions

8) loans in the international market.

All resources are divided into managed and current. Managed: term deposits; interbank loans.

Current: balances on settlement, current and correspondent accounts

Deposit (lat.) - a thing given for storage.

Deposit accounts can be classified according to a number of criteria:

Certificates of deposit and savings certificates represent a written obligation of the issuing bank to deposit funds and return them with accrued interest after the specified period.

Certificates of Deposit - for legal entities persons; savings - for individuals. persons.

According to Russian legislation, certificates can be presented for repayment ahead of schedule. In this case, the certificate holder receives the value of the par value minus the discount.

Accumulated amount of debt: S = P (1 + ni);

Demand accounts are bank accounts, the owners of which have the right to receive cash from them on demand. These include:

a) funds on settlement, budget and current accounts

b) funds in settlements: funds for correspondent. accounts; deposits on demand nat. persons; budgetary and extrabudgetary funds; means for payments on plastic cards.

Features of demand accounts:

investment and withdrawal of money is carried out at any time
% on the deposit are not accrued
the client pays a commission for using the account.

Time deposit accounts involve investing money for a certain period, taking into account the agreement (up to 30 days; 30-90; 90-180; 180-year; 1-3 years; over 3 years)

Savings accounts are accounts that allow you to save your savings. You can not only withdraw, but also credit (passbook)

For term deposits and savings. deposits are paid% differentiated by amount and terms.

Features of time deposits:

1) cannot be used for settlements and settlement documents are not issued for them.

2) funds in accounts turn over slowly

3) a fixed% is paid, while the maximum level of the% rate in certain periods can be regulated by the Central Bank

4) there is a requirement for prior notification by the depositor of the bank about the withdrawal of funds

5) a lower rate of deductions to the required reserve of the Central Bank is applied

6)% rate on the account changes every week depending on the instruments of the money market.

7) the term of the deposit is not stipulated, therefore, CBs may require a notification of the withdrawal of money 7 days before withdrawal

8) deposits are insured by the state.

Therefore, in the volume of attracted funds, demand deposits occupy the largest share, so it is important for banks to determine the irreducible balance of funds on settlement and current accounts, which can be used as irreducible resources.

- average account balance for the period

- credit turnover on these accounts.

To determine the storage time of funds, the following formula is used:

- number of days of storage

- turnover for issuing deposits

SD - allows you to assess the possibility of using available funds as credit resources during the appropriate period.

- the level of sedimentation of funds. The higher the better for the bank. Along with the listed indicators, stability coefficients are used to assess the deposit base of CR:

1) the stability coefficient of basic deposits

OD - basic deposits; - the sum of all deposits

Basic deposits are deposits that are stable and revolving and are unlikely to go away:

§ balances on current and settlement accounts

Savings accounts

§ time deposits of small denomination

§ demand deposits

2) the coefficient of stability of volatile deposits

Non-permanent deposits:

§ loans in the money market (interbank loans)

§ purchase / sale (REPO) of securities

§ issue of own securities (bonds)

3) growth rates of borrowed funds (interbank loans) and deposits of the bank's clients.

Studying the conditions of the deposit offer from the bank, you can find information that in case of early termination of the agreement, the rate on the "On Demand" deposit will be charged on the deposited amount.

What is a demand deposit? Every bank in Russia has a similar offer. And the reason for this is not a desire to breed a client, but a need. The account itself acts as a buffer and is needed for many operations. The consumer of financial services may not be aware of the real role and purpose of this option.

Why do you need a demand deposit?

For crediting funds to a term deposit. It is quite true for a new savings account and for a deposit that is rolling over. Some banks use the deposit "On Demand" before the receipt of money on the deposit. Sometimes such storage is needed to renew the contract. The client is given 1 to 3 days to confirm the renewal or closing of the account.

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

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

For other financial transactions. We are talking about the conversion of electronic money, the accrual of interest on deposits and securities. Also, a similar deposit is used to transfer money from the sale of stocks, precious metals and other values.

Terms of the deposit "On demand"

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

The minimum amount for opening 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 to be able to continue using the service. Otherwise, the account will be closed.
There are no time limits. The account can be closed at the request of the client.
Partial use of funds is allowed. You can withdraw any amount at any time. But you need to leave an irreducible balance on the deposit. Some banks require large amounts. Withdrawal requests must be submitted well in advance. Sometimes there is a commission for partial withdrawal of funds and cashing out from the On Demand account, for example, at UniCredit Bank (1-5%). At the same time, the client can transfer money to the card and use it without additional costs.
The interest rate is almost always set at a minimum. Usually 0.01%. Some banks, such as B&N Bank, offer 0.001%.
Interest is paid, in almost all cases, on a quarterly basis.
The bank can change the interest rate unilaterally, without notifying the client.
Opening of currency deposits "On demand" is available. Most often, the minimum amount is from 0 to 5 dollars / euro. For example, Sberbank allows keeping 9 more currencies on the account. However, they are not available in all branches.

Some banks offer deposits that, in terms of their terms, are similar to the demand deposit.

Usually these are various pension and salary projects. They usually work with the Russian ruble.

These financial institutions include Sberbank and Tinkoff Bank.

The Ural Bank for Reconstruction and Development offers two types of demand deposits.

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

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

Russian Standard on demand deposit offers a 6% rate. This percentage is valid for an amount of 30,000 rubles.

Advantages and disadvantages of the deposit "On demand"

Among the advantages are the following.

Indefinitely. The deposit can be opened once to use it for any period of time.
Partial withdrawals with almost no restrictions. Savings are available to the client at any time (business).
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 bank's right to unilaterally change the size of the bet.

The best materials

Is it possible to live on interest from the deposit
To put money on a deposit and live on interest - a dream or a reality? Find out the opinions of investment experts. We will also answer the question of how much you need to invest in order for passive income to allow you not to work.
Signs that it is time to withdraw the deposit from the bank
In Russia, deposits of individuals in the amount of up to 1.4 million rubles. protected by the Deposit Insurance Agency. But the return of their hard-earned money after the revocation of the bank's license is not a pleasant thing. How to understand that it is time to play it safe and take money from the bank, we will tell in the article.
Long-term investment: forming a financial reserve for the future
One of the main parameters of bank deposits is the term for placing funds. In this article, we will tell you about the features of long-term deposits and about when it is advisable to open them.
Deposit or mutual fund: choose where to invest money and calculate income
The agony of choosing an investment object is familiar to almost every owner of free money, especially if there is a lot of the latter. In this article, we will compare bank deposits and mutual funds as tools for generating income.
Where to invest 10 thousand, 100 thousand and 1 million rubles
In 2019, investors are advised to pay attention to gold, silver, as well as long-term Russian government and municipal bonds. But what should a person with no investment experience choose? We interviewed experts and found out what to do with the amounts of 10 thousand, 100 thousand and 1 million rubles.
Deposit + mutual fund: what a curiosity?
When opening an investment deposit, part of the client's funds go to the deposit, and part to the investment product. The most common are deposits with investment and endowment life insurance, but there are also deposits with mutual funds on the market. What it is and is it worth investing money there, we will tell in the article.
Is it possible to close a deposit in "Sberbank Online"
The presence of a personal account in Sberbank Online enables customers to perform many operations remotely. We will tell you how to close a deposit in Sberbank online in this article.
Goals from Sberbank: Towards a Dream
Sberbank has made the accumulation process even more convenient. In addition to the contribution, you can create a goal and save up for repairs, travel, purchases, etc. We will tell you how this tool works in the article.

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