Deposits for individuals in 2018: Interest and news on taxation for Russians
- 11 Oct 11:30
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In the last few years, the Russian economy is experiencing a severe crisis that negatively affects ruble quotes, inflation rates, social expenditures, and wage levels for various categories of working population. It is entirely natural that the economic uncertainty of theis a desire to insure its savings from potential losses. Many Russians, who have free money, consider the possibility of investing in real estate.
Others buy household appliances and cars that are considering proposals for contributions from the financial and banking sector. Deposit programs of banks have always been considered a good tool in order to insure money from inflationary processes. After all, if the percentage allows you to save the purchasing power of money, this is not bad in the current conditions. Well, if as a result, it will be possible to get some profit, then it is even more worth considering different options for deposit contributions.
Unfortunately, recently the situation in the banking sector is rather ambiguous - firstly, Russians are less believers in banks, and secondly, financial institutions themselves offer less attractive terms for placing deposits. Let's discuss this issue in more detail to find out if it's worth investing in a deposit in 2018, how to choose a reliable bank, and what tax innovations are waiting for depositors of financial institutions.
The current situation on the deposit market
In 2017, interest on deposits was revised downward. All because the recession in the country's economy led to a drop in production activity - entrepreneurs lost interest in loans, which led to a decrease in money demand and a decrease in the interest incentive for attracting deposits from individuals. However, sometimes inflation is in the hands of citizens - banks increase interest on deposits, so that at the expense of the population to replenish financial resources, but today, this situation is not observed.
2018 may change the bank's position, as Russian experts predict a stabilization of the economy as a whole and the financial sector in particular. If entrepreneurs start to take loans more actively, then the population will have a chance for a more favorable allocation of capital. However, while the market reacts to the situation in the economy to the exact opposite - deposits bring less and less income. This is clearly traceable if you examine the current offers of banks. However, we will talk about it in more detail.
How to choose a reliable bank?
The question of how to choose a worthy partner bank to open a deposit worries every responsible person. It is absolutely natural that at first it is worth looking at offers from at least 5-6 banks, carefully comparing various deposit programs and deposit conditions.
However, this is not enough - too good conditions can be a sign of the unreliability of a financial institution. Therefore, it is worth to read thematic forums and sites with reviews of real investors who tell about the quality of customer service and the likelihood of returning funds. Another important information portal, which should be looked at potential depositors of banks - the page of the Central Bank of the country, which publishes the rating of reliability of banking institutions.
Deposit Insurance If there is a problem with the bank before bankruptcy, depositors who have deposited an amount of up to 1.4 million rubles can not be worried. The law regulating the insurance of individual depositors' money deposits guarantees the reimbursement of this amount from the insurance company's fund. By the way, if your potential investments exceed this amount, you can do the following: divide them into several deposits of less than 1.4 million rubles and place them in 2-3 different banks.
Classic deposit at high interest rates can bring you profits!
Types of Deposits for Individuals
Almost any bank of Russia offers its depositors "on demand" deposits as well as term deposits. The latter, in turn, are divided into several categories, among which one should mention:
- classic - a fixed amount of money is placed on the account, which can be replenished during the duration of the deposit program. It is also impossible to withdraw a portion of the amount before the deposit program expires. Traditionally, for such deposits, banking institutions offer the highest interest rates;
- multicurrency - the account contains a certain amount of money in two or more currencies, which allows to protect the contribution from currency fluctuations;
- special contributions, the program of which is specifically designed for a certain category of citizens( students, pensioners, sailors, etc.);
- programs with capitalized interest - accrued for a quarter or month, interest is transferred to the main part of the deposit. This means that in the next month, the interest on the deposit will be charged already for a larger amount of money;
- metal - applications designed to store precious metals. In this case, interest will be charged in case of a change in the price of grams of metal;
- Savings - the amount of money that can be replenished is placed on the account, it can be removed part or all of the amount at any time, but the interest accrued on such deposit deposits is minimal.
The current situation on the deposit market
In 2017, interest accrued by banks reached its historic minimum. Most of the banks in the country offer to place funds at 7.8%.Specialists in the field of banking explain this precedent for a number of reasons, including information on lowering inflation and lowering the key rate by the Central Bank of the Russian Federation. As a result, this led to a decrease in deposit rates from 0.5 to 1 percentage point per year. Banking experts comment on the situation as follows:
- , according to Tetyana Peremyshlyna, who holds the post of vice president of one of PJSC "Promsvyazbank" branches, played an important role in lowering deposit rates, making it cheaper for people and businesses to use credit money. The rates of bank lending in 2017 were reduced to 9.75% per annum, which resulted in the revision of deposit rates.
- Alexei Kosharsky, who is the Deputy Chairman of the Board of the AK Bank, notes that interest rates on deposits in the currency fell most actively. This fact Kocharsky explains the strengthening of the ruble exchange rate;
- representative of the bank VTB24 Zarina Plukchi said that the decline in rates on ruble deposits amounted to about 0.3%, and for deposits placed in currency, this indicator decreased by 0.15%.
In general, bankers note a significant decline in the growth of new deposits as of early 2017, banks were able to attract 523.3 billion rubles from the population, and growth rates dropped from 25% per year to 4.5%!It was also noted that Russians prefer to make deposits in rubles( an increase of 5.5 percentage points was registered for this type of deposit).At the same time, foreign currency deposits grew by only 1.9 percentage points.
Nevertheless, if the revaluation of deposits, taking into account the strengthening of the ruble position, the market for foreign currency deposits showed a negative dynamics. Bank experts point out that the population of the country does not believe in the stability of financial institutions, therefore, increasingly chooses short-term investments from 90 to 180 days. The share of such deposits in 2016 accounted for about 34.5% of all attracted deposits from individuals, in 2015, when citizens of the country more attracted long-term programs, this figure was 4.9% less.
Priority financial products are investments in the national currency, which guarantee a fixed income. The crisis has led to the fact that most of the Russians do not have any savings at all - if in 2015, money deposits placed about 55% of all citizens of the country, today the owners of deposits is not more than 40%.Specialists in the field of banking explain this worsening welfare and a noticeable decrease in household incomes.
Today, Russians trust banks less and do not want to invest in
Citizens who have enough money, less trust in banks, so they prefer to spend money on purchases immediately. However, some large federal banks say an increase in the number of deposits - some Russians are not sure that they will be able to save work and current income levels in the future. That's why they open deposits to create their own airbag in case of release. Separately, there is an increase in overdue loans and arrears on loans taken by Russians.
The majority of depositors are retired - this category of Russians is conservative and used to save money on books still in the time of the USSR.The young generation prefers to use bank cards to store their finances, so banks try to increase the loyalty of this category of Russians through programs that guarantee them a high percentage of the balance on the account. By the way, these percentages are often much higher than deposit rates.
Experts say that the Russians changed the approach to choosing an institution to place deposits - previously, the main criterion was proposed by the bank interest, and now most of the Russians do not look at the level of return on the deposit, but on the reputation, stability and financial position of the institution.
In addition, residents of the country are increasingly terminating customer relations with medium and small regional institutions, moving to large banks with branches throughout the Russian Federation. For example, if in 2016 the share of federal banks in the amount of deposits of the population amounted to about 58%, then in 2017 it increased to 62%.Regional banks today hold about 10.3% of all deposits( in 2015 - 17.8%), while small banking institutions were able to attract only 9.4% of deposits( in 2015 - 14.2%).
What are the predictions?
According to experts, the situation in 2018 is most likely characterized by a further decline in interest on deposits. Not so long ago, the Central Bank of the Russian Federation once again revised the key rate towards its decline, so that many banks will revise deposit programs, lowering the level of income guaranteed to customers. Specialists in the field of banking believe that already in early 2018, when statistical offices once again indicate a decrease in inflation rates, the deposit rate will decrease.
Another fact in favor of such a scenario: the banks note the weak demand for credit resources. Probably, as a result, the percentage of deposits from individuals will fall by another 0.55-1.0 percentage points. On average, experts predict that a ruble deposit for a period of one year or more will be able to get the highest income( from 7.5 to 8%), and for short-term investments - from 7 to 7.5% per annum.
Proposals of major players in the banking market
If we talk about the specific terms of deposit programs offered by individual Russian banks, it should be noted that the most favorable terms of placement of money now offers "Baltiinvestbank", in which you can place a ruble contribution at 10.2% per annum. The minimum interest is offered by the Savings Bank of the Russian Federation, which guarantees ruble depositors only 6.85%.The deposit program is designed for a year, and it is impossible to withdraw money early( or vice versa).
However, banks in Russia offer a variety of deposit products, and you can choose the one that will bring you the expected income. Unfortunately, the forecast for the decline in deposit interest rates on deposits is already beginning to come true. This can be seen if you consider the bank offers for 2018.
- Oschadbank offers several programs at once. The highest percentage offers a "Savings Certificate", which gives an opportunity to get 11.5% per annum, but at a high rate this product does not insure losses from loss. The program "Save OnL @ dn", which allows you to get 9.52% per annum, requires the placement of money for a three-year term, and can not be replenished or removed beforehand. Deposit "Deposit" at a rate of 9.07% per annum is also three years old and without the possibility of replenishment. Individual bank programs are offered to pensioners and orphans;
- Post Bank offers its clients to place money on several deposits. For example, the contribution "Capital" gives an opportunity to get from 7.4 to 7.9% per annum, placing amounts from 50 thousand to 1.5 million rubles and more for six months, a year and 18 months. Contribution "Profitable" implies that the client will contribute from 500 thousand to 1.5 million rubles a year, receiving 7.35% per annum, or will place in the bank more than 1.5 million rubles, receiving 7.5% of income."Accumulative" contribution is replenished and gives an opportunity to get 6.85% per annum, placing the amount from 5 to 500 thousand rubles. Pensioners are offered a bonus of an additional 0.25% for all types of deposits;
- Alpha Bank offers to open deposits: "Victory"( rubles can be placed at 5.88-9.39%, euros - 0.6-2.59%, dollars - 0.85-2.7%), "Award "(rubles can be placed under 5.85-8.3%, euros - 0.65-2.5%, dollars - 0.65-2.6%)," Line of Life "(rubles can be placed under 7,6%), "Premier"( rubles can be placed under 5.1-6.8%, euros - 0.4-1.6%, dollars - 0.4-1.8%), "Multicurrency"( rubles can be placed at 4.4-6.4%, dollars and euros - 0.2-1.8%).By terms, deposits have a duration of 3 months to 3 years, and the minimum amount for an investment is 10 thousand rubles, 500 euros or dollars. Separate programs for pensioners are not foreseen;
- Nomos Bank guarantees clients deposit insurance, however, stipulates that it will be possible to receive no more than 700 thousand rubles. Among the ruble deposits, it is possible to note "Nomos-maximal"( without the possibility of replenishment, for 3 months, 6 months, 1 or 2 years with the opportunity to receive from 6.3 to 8.82% per annum), "Nomos-accumulative"( for 3 months, 6 months or 1 year with the opportunity to receive from 5.65 to 8.35% per annum), "Nomos pension deposit"( from 7.9 to 8.05% for a term from six months to a year), "Nomos-multicurrency"(for 3 months, 6 months or 1 year with the opportunity to receive from 4.9 to 7.05% per annum).Minimum contributions are 5000 rubles or 200 units in foreign currency. With regard to dollar deposits and deposits in the euro, then the bank offers from 0.2 to 3.19% depending on the specific program;
- The Moscow Credit Bank offers deposits "Savings"( from 2.5 to 10.5% when placing an amount of 1000 rubles or 100 foreign currency units for 6-12 months), "Savings"( from 2.75 to 10% perplacing no more than 1000 rubles or 100 units of foreign currency for 3-12 months with the possibility of replenishing the account), "Calculated"( from 1,5 to 9% when placing an amount from 20000 rubles or 400 units of foreign currency for 6-12 months);
- Unicredit Bank offers deposits "Click Deposit"( the amount of 15 thousand rubles with the possibility of replenishment, but without the ability to withdraw funds ahead of schedule at 4.5-6.5%), "Spring Bonus"( up 8.5% when placed on12 months), "Classic"( under 5.8-7.6% for the period from month to three years), "Accumulation"( amount from 10 thousand under 5.6-6.2%).The same contributions in dollar terms will bring depositors from 0.4 to 1.75%, subject to placement of sums of $ 500 for a period of from month to year 3;
- Promsvyazbank offers 7.5-7.9% on ruble deposits of 10,000 rubles and 2.1-2.3% on foreign currency deposits of $ 300 on the deposit "My benefit", 6.38-6.7% on the amount50000 rubles and 1.51-1.82% for the amount of $ 1,000 for the deposit «My income», 7.34% for the amount of 3000 rubles and 2.02% for the amount of $ 500 for the pension contribution.
As a result, it can be concluded that in order to receive at least 7.5% per annum, it is necessary to place in the bank an amount of not less than 50,000 rubles for a term of 3 years, which is unlikely to decide a large part of the Russians.
In order to get significant benefits, you will have to trust the bank about 50,000 rubles for a long time without the possibility to remove them before the term
To the question of taxation of contributions
Particular attention deserves attention to the introduction of a tax on bank deposits of natural persons. Not so long ago, representatives of the Ministry of Finance expressed the need to introduce PIT for income received from the deposit. According to Ilya Trunin, who holds the post of deputy head of the Ministry of Finance, if the tax is levied even from small salaries of 10 thousand rubles, then why not levy fees on income in the form of received bank interest.
Appetites of the financial department are understandable - only in 2016 the volume of deposits of individuals was calculated in the amount of 24 trillion rubles, which is approximately 25% of the total gross national product. A simple calculation shows that the taxation of 13% tax can bring to the treasury an additional 3 trillion rubles, solving the issue of budget deficits.
However, while experts say the government is unlikely to take a similar step( at least until the election).The volume of deposit deposits has declined substantially, and if you start to tax this money, then the people of the country will simply take away the money invested, which threatens the financial system of Russia by deepening the crisis. There is also a different opinion that the rumor of the taxation of deposits was launched intentionally. His only goal is to increase the interest of Russians in "popular bonds."
Recent polls showed that about 80% of citizens prefer traditional deposits and are not going to buy paper-based Treasuries, and only 7% of Russians are considering the possibility of such a purchase. The potential opportunity to pay a deposit tax may lead to the fact that some residents of Russia will prefer to keep money in bonds that are not subject to taxes.