Maximum interest on deposits in foreign currency in 2019

The content of the article

• What are the benefits of deposits in foreign currency
• Who can become an investor
• Foreign currency insurance
• Deposit Terms
• Interest rates on deposits in foreign currency
• Minimum Deposit Amount
• Where to invest at a high interest rate
• VIP Deposit Term in Bank East
• Profitable from Russian Agricultural Bank
• High Income Premium at Zenith Bank
• Profitable investment in VTB Bank
• Savings deposit in dollars from Moscow Industrial Bank
• Benchmark on the movement of BDB Bank
• Deposit Basic income from the Bank Opening
• Personal Mosoblbank deposit
• Contribution Investment income of Gazprombank
• Premium Plus from MTS Bank

The unstable ruble exchange rate and high inflation rates force citizens to look for various ways to save their own funds. One option is to open a foreign currency bank account. In many cases, the profit from it will be higher than from the ruble deposit.

What are the benefits of deposits in foreign currency

• For short-term investments (for 1-2 years) it is more profitable to arrange ruble investments.
• In the long run (from three years) for large sums, foreign currency is more convenient.
• In all cases, the client is better off not withdrawing money before the deadline, otherwise the interest rate will change to the lowest possible and investment income will be minimized.

The most common and most beneficial are foreign currency deposits in euros or US dollars. Some Russian banks offer to make investments in British pounds, Swiss francs, Japanese yen or Chinese yuan. Such investments may be less effective due to sharp fluctuations in the exchange rate. In all cases, the Bank must have a CBR license to conduct operations with currency.

Special offer for customers – multicurrency contribution. By opening it, you can easily change the monetary unit for savings (for example, convert a dollar deposit into euros) with conversion without commission. This allows you to flexibly respond to changes in exchange rates. In this case, the rate will be lower. Sometimes it is optimal to put money at interest separately in a dollar account or in euros.

Who can become an investor

It is allowed to open a deposit in foreign currency to persons over 18 years of age who have a sufficient amount for the contribution:

• Russian citizens need to fill out an application and sign the necessary documents. An identity card requires a passport. After opening an account, the client must deposit funds to it through the bank cash desk or by bank transfer.
• For foreigners acting as tax residents, the procedure is similar. From the documents it is required to present a passport and a migration card.

Foreign currency insurance

In case of bankruptcy of a credit institution, revocation of a banking license from it and other similar incidents, the client receives a refund. This is regulated by Federal Law No. 177-ФЗ “On Insurance of Individuals’ Deposits with Banks of the Russian Federation” dated 12.23.2003.

The client should know the following features:

• The amount of compensation is 100% of the deposit, but not more than 1.4 million rubles. on all accounts of a particular bank. Investments of various credit organizations are insured independently of each other. For each of them, you can get a separate refund..
• For foreign currency investments, they are converted into rubles at the exchange rate of the Central Bank of the Russian Federation at the time the bank terminated its financial activities.
• Participation in the investment insurance system is mandatory for all credit organizations raising funds from individuals.

Deposit Terms

• Transfer of a certain amount to a bank at a set rate.
• Interest on the basis of the rules adopted by the bank.
• Storage of money by a credit institution for a certain period of time. Premature receipt of funds by the client is unprofitable for the bank, as entails unplanned expenses. For this reason, the rate is reduced to the lowest possible. If the client has already managed to receive interest payments before withdrawing funds, their amount is deducted from the amount that he will receive on hand.

Interest rates on deposits in foreign currency

Given inflationary processes, deposits in dollars or euros are more profitable for saving money in the long run. Please note that in numerical terms the percentage of foreign currency accounts is less than ruble.

Accrual procedure

• Monthly or quarterly. The client, as a rule, can choose whether to receive these payments to a separate account and use them at his own discretion or add them to the principal amount, increasing its size and future income (carry out capitalization).
• End of term. The disadvantage of this option is that accrued interest on foreign currency deposits cannot be used for capitalization, that is, investment income will be less.

The size of the bet depends on the following factors:

• Account currencies. For example, the “Profitable” of the Agricultural Bank has the highest rates in dollars of 2.45%, in euros – 0.2%.
• Storage period. For example, for the same banking product when placing deposits for 91 days, the rate will be 1.05%, for 1460 days – 2.45%.
• Investment Amounts. For example, “Premium Plus” of MTS Bank applies a rate of 2.3% for accounts less than 10 thousand dollars, more than the specified amount – 2.4%.
• Capitalization. Some credit organizations do not withdraw interest, and attach them to the main investments, increasing not only the total future income, but also the rate. For example, in Otkritie Bank for a 730-day deposit with capitalization it will be 2.1%, if you transfer interest to a separate account – 2.06%.

Minimum Deposit Amount

This parameter is regulated by a specific credit institution taking into account the proposed banking product. The spread of values ​​ranges from 100 to 15 thousand dollars or euros. Wherein:

• In some cases, set a limit on the maximum amount of investment.
• Sometimes the client has the opportunity to deposit money into the account during his term. Long-term deposits with replenishment in the Russian market of foreign currency investments did not receive distribution.

Where to invest at a high interest rate

Top 5 Russian banks offering maximum dollar rates:

• Tauride Bank, “Confident Choice” – up to 3.3%.
• Asia Pacific Bank, Save – 3.2%.
• Russian Agricultural Bank, “Your Income” – up to 3.2%.
• BDB Bank, Accumulative-VIP – 3.2%.
• Novikombank, Premium Capital – up to 3.1%.

The most profitable deposits in euros:

• Tauride Bank, “Confident Choice” – up to 1.4%.
• Promsvyazbank, “Maximum Percentage” – 1.3%.
• Ural Bank for Reconstruction and Development, “Accumulative for 390 days” – up to 1%.
• BKF Bank, “Multicurrency Premium +” – up to 1%.

The maximum interest on deposits in foreign currency is often found in small or new credit organizations. They strive to gain a foothold in the market and build up a client base, therefore they develop offers that are advantageous for investors. When the bank’s activities are suspended, the client will receive statutory compensation, but will lose interest if they are paid at the end of the term.

VIP Deposit Term in Bank East

• Maximum bid – up to 1% dollars and 0.55% – euros.
• Deposit period – up to three years.
• Magnitude – 500-25 thousand (does not depend on the currency). Accrual and receipt of interest at maturity.
• Opening method. You can make a deposit at a personal visit or by leaving a request on the bank’s website (unless otherwise specified, this applies to all investments).
• Early receipt. Allowed up to 10% of the money stored. If it is greater, then the remaining funds are charged the rate “Demand” (0.01%).

Profitable from Russian Agricultural Bank

• Maximum bid – 2.45% dollars, – 0.2% euros.
• Magnitude – from 50 for any currency. Unless otherwise specified, the maximum investment size is not limited.
• Term – from 1 month to four years for dollars, from 1.5 to four years for euros.
• Accrual and payment of interest – monthly or during account closure. Separate transfer or addition to the total amount is possible..
• Replenishment – no.
• Early receipt of money – not provided. The client cannot withdraw part of the money without reducing the amount of interest. The “Demand” rate is applied to the balance of the amount in the account..
• Features – automatic extension of the deposit term is possible. For example, if it is 91 days, this can be done up to three times.

High Income Premium at Zenith Bank

• Maximum bid – for dollars up to 1.25%, the size depends on the timing and size of investments, for euro accounts – 0.01%.
• Period – from 1 month to two years.
• Minimum investment – from 1000 (regardless of currency).
• Maximum amount – $ 75 thousand or € 65 thousand for registration at the office. There are no restrictions for deposits opened via the Internet.
• Accrual and payment of interest – at the end of the term with a transfer to a separate account.
• Opening method – in addition to the traditional options, you can apply through the mobile application.
• Replenishment – not provided.
• Features – automatic renewal is possible an unlimited number of times. Increased rate for pensioners and people over 55.

Profitable investment in VTB Bank

• Foreign currency deposit rates – 1.11% dollars, 0.05% – euros.
• Magnitude – from 3000, regardless of currency.
• Deposit period – 546–731 days for a dollar account, 181–394 – for a euro.
• The procedure for calculating and paying interest – they can be withdrawn monthly or added to the main deposit to increase the amount in the future.
• Opening method – personal visit. A similar account with online registration has a lower interest rate.
• Deposit replenishment – not provided.
• Early receipt of funds from a bank deposit – missing.
• Features – no automatic renewal. If money is stored beyond the due period (731 days), then at this interval a rate of 0.01% per annum is charged.

Savings deposit in dollars from Moscow Industrial Bank

• Maximum bid – up to 2%.
• Term – 91-730 days.
• Contribution amount – at least $ 100. If the amount exceeds 150 thousand, then only half of the put rate is calculated for the balance.
• Interest charge – monthly. They can be obtained in full or left for capitalization..
• Deposit replenishment – perhaps. The process ends 30 days before the deadline.
• Early receipt of funds from the account – not allowed.
• Features – deposit in euros is placed in a similar way.

Benchmark on the movement of BDB Bank

• Maximum bid – up to 1.8% for dollars, up to 0.85% for euros.
• Deposit amount – from 1000 (any currency).
• Term – 181-730 days.
• Interest Calculation Procedure – quarterly, payment or capitalization is allowed.
• Replenishment – not provided.
• Early withdrawal of funds from the account – allowed.
• Features – there is a possibility of extending the deposit term.

Deposit Basic income from the Bank Opening

• Maximum bid – 2.3%.
• Term – 91-730 days.
• Magnitude – from 1000 dollars.
• Interest Calculation Procedure – monthly. It is possible to transfer to a separate account or add to the total amount.
• Replenishment – no.
• Early withdrawal of funds from the account – not provided.
• Features – the maximum amount of income on the deposit is achieved with a period of 367 days and interest capitalization. You can open an account for a third party.

Personal Mosoblbank deposit

• Maximum interest rate – 2% for dollars, 0.15% for euros.
• Magnitude – minimum 10,000, regardless of currency.
• Term – 365 days.
• Interest Calculation Procedure – monthly no later than the second working day, capitalization is not provided.
• Replenishment maybe in the first 183 days.
• Early Withdrawals no account allowed.
• Features – automatic renewal and opening for third parties is possible.

Contribution Investment income of Gazprombank

• Maximum interest rate – 2.8%.
• Amount – from 500 dollars.
• Term – 91–367 days.
• Interest accrual – at the end of the term.
• Deposit replenishment – no.
• Early receipt of funds from the account – not provided.
• Features – no capitalization.

Premium Plus from MTS Bank

• Maximum interest rate – up to 2.4% for dollars, 0.01% for euros.
• Term – from 12 to 24 months.
• Magnitude – from 50 thousand, regardless of currency.
• Interest accrual – the end of the term, therefore the banking product has no capitalization.
• Replenishment – not provided.
• Early receipt – missing.
• Features – extension unlimited times.