The habit of saving money in cash is becoming a thing of the past. This is caused by the rapid development of the banking system. In addition, as you know, money should work and bring, albeit small, profit. Today there are several ways to place your own funds in a bank. This can be a regular deposit or a plastic card and current account at a financial institution. These products have been known to consumers for a long time.

Relatively recently, a new offer appeared on the domestic banking market - a savings account. We will talk about it further.

What is a savings account?

The very name of the product indicates that funds can not only be stored on it, but also some kind of profit can be derived from them. Which category of the population uses this offer more often? First of all, we are talking about bank card holders. Often, already in the process of applying for plastic, managers offer clients to open a savings account with a bank. What features does this product have, what differences does it have from traditional accounts? How to use it and in which financial institution is it better to open it?

Why open such an account?

Many service packages offered by banks already include the option of opening a savings account. Most often, this is how it is formatted. There are several main reasons that may prompt bank clients to open a savings account. First of all, it should be noted that for such accounts, credit institutions offer a higher interest rate charged on the funds stored.

In addition, often the terms of the agreement do not provide for the receipt of dividends on the main card account. Sometimes banks place restrictions on the maximum deposited amount. In this case, the client has the opportunity to transfer part of the funds to a savings account. Customer reviews confirm that this product can act as a kind of guarantor of the safety of money. There are frequent cases of loss of plastic cards, as well as various manipulations with them by fraudsters. A savings account gives you a feeling of security and peace of mind regarding the safety of your savings.

Creating an account without a plastic card. Account management

Surely many are interested in the possibility of creating a savings account without issuing a plastic card or concluding an agreement with a bank to provide a certain package of services. It must be said right away that not all financial institutions provide such an opportunity. For example, Raiffeisen Bank does not require a bank card to open a savings account for its clients. In addition, in this institution you can replenish your savings account or withdraw funds from it either in cash or by bank transfer.

Managing your savings account is simple and convenient. First of all, this applies to existing bank clients. They can use the Internet to remotely transfer or withdraw funds at any convenient time. You can use either a personal computer, a tablet or a smartphone.

Account or deposit?

In recent years, financial institutions have been vigorously promoting savings accounts among the population. And there are many reasons for this. This product may indeed be interesting and beneficial to many consumers. Thus, these accounts often offer higher returns compared to fixed-term deposits. How is interest calculated on a savings account, and in what amount?

The rate may be influenced by the size of the account balance and the level of prestige of the service package within which the account was issued. In addition, the interest rate is also affected by the period during which the funds were stored on it. For example, VTB Bank offers consumers a rate of up to 10% per annum.

Among the main advantages of a savings account is the absence of a fixed period for its operation. It is issued for an unspecified period, and the period of storage of funds on it is not specifically agreed upon or determined in advance. The client has the right to decide for himself when he needs to withdraw the required amount or, conversely, top up his account. But there is one caveat. The final interest rate sometimes depends on the period of storage of money in such an account.

Advantages

The terms of the savings account compare favorably with deposits that were popular at the time, which provided for the possibility of replenishing and withdrawing funds. In addition, the mentioned deposits, as before, are subject to restrictions regarding the minimum balance, the maximum amount of money that can be withdrawn, as well as the minimum amount to replenish the account. Also, for such deposits, periods are established after which funds can be replenished or withdrawn.

For time deposits, a constant interest rate is determined if it was fixed in accordance with the terms of the concluded agreement. In addition, there are deposits with variable interest rates. Its size is influenced by the key rate set by the Central Bank of the Russian Federation (Bank of Russia). During the period of storage of funds in the bank, this parameter may change, but such cases must be specified by the parties in the agreement.

The current interest rate on the savings account is known at the time of its opening. Today there is a trend towards lower rates, and they, apparently, will not rise in the near future. It should be noted that the saved funds of individuals are protected by the Russian state corporation DIA (Deposit Insurance Agency). This applies to both deposits and savings accounts.

Disadvantages of a savings account

By and large, a savings account has only one drawback compared to a fixed-term deposit. Such accounts have lower returns than deposits. Some banks specifically limit the maximum amount that can be deposited on it. In addition, certain limits are set on the interest rate depending on the amount of funds deposited by the client. For example, if the amount is less than 300 thousand rubles, then 7% per annum is charged. When depositing more money, the interest rate decreases to 3% per annum. These conditions may vary between different credit institutions.

It should be emphasized that some financial institutions impose certain restrictions on the use of such an account. For example, VTB Bank provides the opportunity to replenish a savings account exclusively by bank transfer. And it will be possible to withdraw funds from such an account opened with Alfa Bank only after first transferring the required amount to a plastic card. However, no commission will be charged if the bank card is issued by the same bank.

What is a savings account in a bank and how it differs from deposits is of interest to everyone who wants to place their free funds with the greatest efficiency. This knowledge will help you make the right choice and get the maximum benefit from the deal.

This service appeared relatively recently, just a few years ago in 2012-2013. Large banks such as Promsvyazbank and Alfa Bank were the first to offer their clients to place free money in a savings account. Then they were followed by Raiffeisenbank, Unicreditbank, Binbank.

The reason for the emergence of such a service and its widespread use is quite banal - the financial crisis. Clients needed a banking product that would give them the opportunity to earn money and at the same time not block access to money. So that people can continue to withdraw their funds at any time without penalties from the bank.

By opening this opportunity to people, financial institutions were able to resolve the issue of the outflow of deposits, as well as slightly reduce the cost of the resource base for themselves. They attracted money to savings accounts at lower interest rates.

The next question that is relevant to many potential clients is about the service. savings account how it works and its features. At its core, a savings account is a symbiosis of a current account and a savings deposit. From the first, free access to money was borrowed, from the second, an increased interest rate.

In simple words, the client can both replenish the account and withdraw money from it. The bank will charge interest based on the daily balance of funds.

The main differences between a savings account and a deposit

The difference between a savings account and a deposit is the following:

• for the purpose of placing funds. A savings account is used by individuals to collect money to purchase an expensive item, but at the same time be able to withdraw it at any time. A time deposit is suitable for those who want to increase their income, savings for those who want to accumulate and maintain savings;
• acceptable financial options. For example, a savings account is replenished and provides the possibility of withdrawing money. And if we consider the conditions for placing money on time deposits, then it is very rare to find a bank where it is allowed to withdraw money ahead of schedule without applying penalties;
• interest rate. In practice, the highest returns are on deposits that cannot be replenished or withdrawn. The savings account is in the middle according to this parameter. His rate is higher than on demand deposits, but lower than on time deposits;
• duration of the contract. Any deposit is opened for a specific period, but the period of validity of the savings account is unlimited. Usually it is closed based on the client’s application;
• from a savings account money can be withdrawn at any time, if you terminate the deposit early, you will have to write a statement and wait 2-3 days (depending on the terms of the agreement) to receive the money.

Considering all of the above, it is not possible to answer the question unambiguously about a savings account or what is better. It all depends on the goals pursued by the client. If he wants to get maximum income and does not plan to use the money during the entire term of the contract, then it is better to give preference to a deposit.

But if the client does not know when he will need funds in the future, but he has a desire to place them so that they do not just lie “idle” in the current account. Then it makes more economic sense to place them in a savings account. After all, the latter option provides for the accrual of interest on the balance.

How to open a savings account

You can use this service at almost every bank. You can open a savings account in a bank in the following ways:

• directly at the department;
• online using the bank's website.

The first method is more conservative and requires additional time. However, the client can immediately receive all the answers to his questions from a bank employee. Recommended for the first time an individual applies.

Opening a savings account online is not difficult. All you need to do is fill out a small form on the bank’s website, which usually consists of the following items:

• Date of Birth;
• Contact details;
• address.

It is very easy to open a savings account for existing clients of financial institutions. Typically, they have constant access to their personal account using Internet or mobile banking. And already in it, clients can perform any financial transactions, incl. open savings accounts.

By the way, having an existing bank account makes it easier for clients to make transfers from one account to another. For example, from card or from current to cumulative. Moreover, this can be either an initial payment or regular replenishment.

You can open an account in a new bank using an online application, but for transferring money from the account of another financial institution, a commission will be charged from the client.

The advantages of remote servicing are the absence of queues for an operator and the ability to carry out a financial transaction at any convenient time.

What is needed to open an account

To deposit money into a savings account, the client only needs a passport or any other identity document.

When placing money into the account, the client enters into an agreement that specifies all the main parameters of the transaction:

• validity;
• interest rate;
• deposit amount and currency;
• interest rate;
• interest calculation rules;
• possibility of replenishment and partial withdrawal;
• conditions for early termination.

And other important conditions.

By the way, every potential client should know that, like all deposits, the savings account is insured by the DIA. This means that if the bank is declared insolvent, the depositor will be able to get his money back in an amount not exceeding 1.4 million rubles.

Information about the participation of a financial institution in the DIA must be posted on the official website of the bank, as well as in each of its divisions in a place accessible to the public so that anyone can familiarize themselves with them.

Features of a savings account

When choosing a savings account, a potential client should pay attention to the following parameters:

interest rate

The rate can be fixed or floating. The first option means that the bank under no circumstances changes the terms for calculating interest.

The second provides for changes in the interest rate depending on conditions. For example, the rate increases in proportion to the contract period or when the account balance reaches a certain value.

validity

The period of operation of the savings account is unlimited. But it can close automatically if the client does not use it for a long period.

deposits and withdrawals

Banks do not limit the possibility of replenishing an account, but regarding the second parameter, there are nuances. It is difficult to find a financial institution that does not set a minimum balance - this is the amount of money that should always be in the account.

If the client does not fulfill this condition, the bank will recalculate his interest at a rate of 0.1% per annum or apply other sanctions. The minimum balance level is set by each bank independently. It may differ even within the same financial institution, depending on the deposit program or category of clients.

Therefore, before withdrawing money from a savings account, you should carefully study the terms of the agreement so as not to go below the minimum balance.

frequency of interest calculation

Monthly, quarterly. Interest can be paid to clients, or can automatically replenish the deposit (capitalization);

account currency

Most often rubles, but there are also dollars and euros.

Card with savings account

By the way, you can often find such a combination in banks as a payment card with a savings account. This combined product is designed for clients who regularly have money credited to their card, for example, participants in salary projects.

They constantly receive wages, but the bank does not charge any interest for the money being on the card. They can increase their income by transferring part of the funds to a savings account. It should be noted that many banks do this automatically based on the client’s application.

A bank card with a savings account is very similar in properties to a “piggy bank”, except that the client is charged interest. The advantage for the client is that he can earn extra money, but for the bank this is another way to attract clients, and of course, increase their liabilities.

What banks can offer clients

The best savings accounts in banks, examples:

VTB 24

Invites potential clients to open a savings account in rubles/dollars/euro for free. There are no restrictions on replenishment, however, you can deposit money into the account, as well as withdraw it, only in non-cash form through the master account.

Subject to registration with the “Savings” option, the client is accrued 10% per annum for 1 month, from 4% to 5.5% - from 2 months, from 5% to 6.5% - from 3 months, from 6% to 7.5% - from 6 months, from 8.5% to 10% - from 12 months. placement of funds in the account.

Alfa Bank

Offers to use the “Savings” account. The interest rate, regardless of the balance, is 7% per annum. You can top up your account only using the services “Moneybox for change” and “Moneybox for salary”, and withdraw money only by transferring it to your current account.

By the way, Alfa Bank has two more programs for accumulating money in an account: “Valuable Time” (3.5% per annum) and “Blitz Income” (3.25% per annum)

Tinkoff Bank

Opens savings accounts in rubles and foreign currency with a yield of up to 7.76% per annum in rubles, 2% in dollars and 0.9% in euros (subject to capitalization and a bonus of 0.5%). Minimum deposit size: 50 thousand rubles or 1,000 in foreign currency. There are no restrictions on the amount of replenishment.

Minimum withdrawal amount: 15 thousand rubles or 500 in foreign currency, but you can withdraw money no earlier than 60 days after the conclusion of the agreement. Opening a deposit online is free, at the bank office 1000 rubles or 35 dollars/euro.

Advantages and disadvantages

pros

What is a savings account in a bank? It is an alternative to a bank deposit. It is ideal for clients who cannot predict when they will need money, but still want them to work and ask for income.

The combination of a payment card and a savings deposit is similar to the familiar piggy bank. This combination increases efficiency of funds management and allows people to earn additional income.

Minuses

Regarding the shortcomings, the client should take into account that savings account interest is lower than by deposits. There are also restrictions on partial withdrawals.

Many financial institutions set irreducible minimums, below which the account balance should not fall, otherwise the rate drops to 0.1% per annum.

Well, usually, a savings account is opened to clients within the framework of a package that provides either monthly fee or one-time commission.

Alexander Babin

In a situation where a person needs to send money for storage, it appears two choices: deposit and savings account. And if the first case represents an inflexible system with restrictions but high profits, then the second is the opposite. This account is more flexible and free, but brings in less income.

A bank account, which allows its owner to deposit, withdraw, store and receive interest on funds, is a type of deposit known as a savings account.

It can be most clearly described in one word - mobility. It lies in the fact that the bank client has complete freedom of what to do with the money on him. Funds can be withdrawn and replenished at any convenient time. The limit is only a fixed minimum balance, and it is impossible to withdraw an amount below which.

The primary reason for opening a deposit is secure storage. Secondary - interest.

Advantages and disadvantages

Advantages savings deposit:

• flexibility;
• no restrictions on any period;
• complete freedom to manage funds;
• no loss of interest;
• receiving income.

However, there are also minuses:

• small interest compared to the deposit;
• interest depends entirely on the amount that is currently on it;
• insurance in a mandatory program (insurance amount 1.4 million);
• if the actual amount exceeds the insurance amount, then only the available insurance limit of 1.4 million is paid to the bank client as compensation.

However, there are not many disadvantages, but for some they are really significant.

Step-by-step opening instructions

A financial institution can open a deposit for a legal entity - resident. Moreover, it is allowed to open for an organization that has foreign investments in its capital. The person who contacts the bank must provide statement, according to the basic form, and list of documents:

• list of organization members;
• identification of the authorized person;
• confirming the consent of all founders to open a savings account.

In the case when it is opened by one person, then it is signed, accordingly, only by him without the use of any powers of attorney.

There are also several options for opening using a phone number, mobile bank, financial institution website and bank branch.

All examples, for greater clarity, are given on Sberbank.

1. By phone number. You need to call the bank's hotline - 8 800 555 55 50 . The consultant who answers the call must be asked to open the piggy bank, having previously identified his identity. After that, he will ask you to follow his instructions. Calls within the Russian Federation are free.
2. Using mobile banking. In the Sberbank Online application, select the card for which you want to connect a deposit. Then click on the “Connect a piggy bank” tab, selecting the “Accumulative” type. Confirm the operation performed, thereby completing the creation.
3. Bank website. After logging into your account, click on the “Maps” tab. Select the required debit card and click on the “Operations” menu sub-item, where you need to select account connection. Then a menu will appear where you need to select the type of deposit, the place where the funds should be taken from and where they should be sent in case of withdrawal.
4. Bank branch. Visit a bank office. Contact a consultant and write an application to open a deposit. You must have a card and passport with you. Then you need to ask the operator to activate the service.

What conditions do banks offer?

Banks do not have many basic conditions. They are mainly expressed:

• free financial management (withdrawal, replenishment) without loss of interest rate;
• arbitrary amount of replenishment with the only exception: the amount that goes to the deposit should not be 10 times more than what is on it;
• interest payments, according to the minimum balance that is on the account during the specified period.

These three conditions are present in any financial institution.

What is the difference from a deposit

The main difference between an account and a deposit is Liberty. For most, the ability to withdraw money from the deposit at any time is a decisive factor when registering.

How to open

Opening a savings type deposit represents almost automatic procedure. You just need to press a couple of buttons (when opening remotely) and you're done.

In the case of a deposit, it is necessary be in a bank branch(if the discovery occurs for the first time). It is also necessary to sign contracts and provide a basic package of documents.

How long do they last?

Validity period of the savings deposit is not limited. The owner can close it at any time and keep it active as long as he likes.

On the contrary, the deposit period limited. The apogee of the minimum and maximum period is 2 and 5 years, respectively. Banks charge a certain fine for early closure.

How to manage money

Using a savings deposit, money can be withdrawn and replenished at any time. Their use is not limited in any way.

In the case of a deposit, withdraw money you can't freely. In theory, this can be done, but you will have to pay a certain fine, which is set by the bank. As for replenishment, this may or may not be allowed on the deposit. It all depends on the bank's conditions.

Are you insured?

If we talk about insurance of savings accounts and deposits, then by default (for individuals) they are insured up to 1.4 million rubles.

As for legal entities, there are restrictions and, in some cases, lack of insurance. More detailed information can be obtained from the bank.

What to choose

First of all, it is necessary to build on the goals and amounts of available funds. If the goal is to “occupy” a free, but small, amount of money with business - a deposit with accumulation. This will help you make a profit, albeit a small one.

If there is a lot of money and you need to “borrow” the money with something, earning it if possible - a deposit. It is worth noting that small amounts in deposits do not work and there is no need to send them to it.

What banks offer: comparison

Using the simplest method of storing funds, oddly enough, requires the best bank for this. That is why it is necessary to compare them.

When choosing a deposit, you need to focus on the following parameters: the estimated period of use, the amount of funds available, the need to replenish the deposit.

Sberbank

One of the most popular banks in the country has three main tariffs:

1. "Recharge online". The tariff is available exclusively to those customers who have a card. It can be opened remotely. The interest rate, which depends on the term and funds, is generally between 3.95% and 5.12%. The account itself is valid for up to three years, and the minimum amount is 1000 rubles.
2. "Replenish".It is similar to the previous tariff with the exception of two nuances: it can only be opened at a branch and the interest rate is in the period from 3.7% to 4.62%.
3. "Manage (online)". Mixed tariff, allowing you to open a deposit both online and in the branch. The maximum term is three years, and the interest rate ranges from 3.25% to 4.82%. The minimum payment is 1000 rubles.

Thus, the “nationality” of the bank completely justified due to these tariffs.

VTB

The second most popular bank in the country. Has one flexible tariff available. TO VTB savings account conditions applies:

• transfer from a card to a deposit of a specific amount on a specific day;
• accrual of interest on the remaining amount;
• cash withdrawal without loss of interest.

Valid for an indefinite period, and opening and maintenance are free. As for interest, it depends on the term - 4%, 5%, 5.50% and 7% for 1, 3, 6 and 12 months, respectively.

Alfa Bank

1. "Activity". A specific tariff created for owners of fitness bracelets. So, for 1 meter, from 1 to 50 kopecks are transferred to the savings account. Thereafter it has 5.8% per annum.
2. "Airplane". Suitable exclusively for those who have issued an Aeroflot card. Instead of accruing interest and money - miles. However, this happens provided that there is up to 50,000 rubles on the card linked to the deposit.
3. "Savings". Money comes from the “Piggy Bank for Salary” or “Piggy Bank for Change” cards. The entire balance is charged 7% per annum.
4. "Blitz income". There is no restriction on withdrawal or replenishment. The interest rate is directly proportional to the amount:

• 2.5% - up to 999,999 rubles;
• 3% - from 100,000 to 499,999 rubles;
• 5% - from 500,000 to 999,999 rubles;
• 7% - from 1,000,000 to 4,999,999 rubles;
• 8% - from 5,000,000 rubles.

Accrual occurs monthly, and withdrawal and replenishment of funds has no restrictions.

1. "My safe". A type of account whose terms are closely related to the services. So, this tariff is most suitable for people who use “Comfort”, “Optimum”, “Maximum”. The interest rate range is from 1% to 1.8%, and the minimum contribution is 1 ruble.
2. "Valuable Time". The minimum deposit to the account is 100,000 rubles, and the annual interest rate can be increased to 7.5%. Use is available only to those clients who have activated the “Optimum”, “Maximum +”, “Comfort” or “Alpha Private” services.

Thus, if you need to choose a special deposit, then Alfa Bank will be the leader

Tinkoff

Tinkoff Bank has the only type of savings account, where all the most unique things are collected. VC quality of conditions speakers:

• cash withdrawal up to 3,000 rubles without commission;
• free service if there is an amount on the account of more than 50,000 rubles;
• annual interest rate - 6%;
• withdrawal of money from the deposit does not entail loss of interest;
• there is no minimum and maximum amount threshold;
• Account opening is allowed only in rubles.

The bank focuses on remote control, and therefore the main method of opening is the Internet. If you open a deposit at a branch, a commission of 1000 rubles is charged.

Is it possible to use a savings account without a card?

Theoretically - yes. However, most banks do not allow this. This is due to the fact that the deposit represents an addition to the main service, rather than a separate part.

If you still managed to find the use without a card, you need to make sure that Withdrawing money through the cash register is free.

Additional comparison information is provided below.

→ What is more profitable: a bank deposit or a savings account?

What is more profitable: a bank deposit or a savings account?

For citizens who prefer not to spend all their earned money at once, but to create savings, it is, of course, more advisable to keep savings in a bank. However, the traditional time deposit, which has a number of disadvantages and does not provide for the possibility of daily management of funds, has a very convenient alternative - a savings account. In this article we want to look at this type of placement of funds in a bank in more detail.

Cases when opening a bank deposit does not make sense

If a potential investor has a strong desire to accumulate a specific amount of money, say, to make a large purchase, and at the same time he is confident that current income will be enough for him to live on, then a deposit in this case will be the optimal solution. This method of storing and accumulating money involves placing funds for a period specified in the contract. During this period, the bank uses the depositor’s funds for investment, and the owner of the deposit is guaranteed to receive the agreed interest. A completely different situation develops if the investor often enough applies for money placed in a bank account. In this case, a fixed-term deposit is not the most profitable solution.

If, due to a number of circumstances, the depositor suddenly decides to withdraw his funds before the period specified in the deposit agreement, then he will lose a fairly significant amount when recalculating interest charges on the deposit, and in some cases he will be left without interest at all. Most deposits, under the terms of which the client has the opportunity to use the funds in the account, provide for the calculation of charges based on the minimum balance.

Even if the client withdraws money for just a few days, the interest payment upon closing the deposit will be insignificant. Moreover, many set the amount of the “minimum balance”, which cannot be withdrawn without closing the deposit.

Some deposit offers do not provide the possibility of replenishing a time deposit, which is another disadvantage.

When is it more profitable to open a savings account?

As we have already said, a savings account is a worthy alternative to a fixed-term deposit. Owners of most of these accounts have the opportunity to: freely withdraw funds in any amount; top up your account at any time without restrictions; receive interest payments on the “minimum balance” for the billing period.

Many banks offer as a “bonus” an increase in the interest rate depending on the time the funds are in the account. Moreover, the larger this amount, the higher the interest rate.

Money from the savings account can be used to pay for purchases and services; funds from the savings account can be transferred online to other accounts, etc.