Date: 10 months ago   Category: Financial

Rates on deposits don't grow, and hryvnia exchange rate falls. How now to earn from deposits?


We understand how to squeeze out of deposits at most of income despite the growing dollar exchange rate and inflation. What happened? A deposit remains almost only opportunity to protect the money from inflation and to increase savings. But here a problem — in 2018 banks don't increase a rate on deposits, besides, according to the forecast of National Bank, inflation of hryvnia this year will eat 8,9%. It is natural that investors look for new ways to gain as much as possible income from deposits. The Bonus to Deposits program which the website about investments and finance has organized Ministry of Finance comes to the rescue. Her essence simple: if before bringing money to bank, to issue the application on the website minfin.com.ua, then the client receives a bonus to 2% per annum from the contribution sum and also participates in a draw of monetary prizes. From where do bonuses undertake? Who and why them distributes? Banks aren't liked to be told about it, but in their model of business money for involvement of new clients is put — to receive the client, financial establishment needs to spend for advertizing. If the bank didn't need to spend money for advertizing, it could pay on deposits couple annual interest rates bigger. On it the website Ministry of Finance has constructed the bonus program for investors. Ministry of Finance agrees with banks about what those will receive clients without publicity expenses, and the saved money will give to the investor. Deposit bonuses enjoy popularity. In 6 months 2018 clients who have received a bonus from Ministry of Finance have brought 0,5 billion hryvnias of deposits in banks. How many money can be earned? The size of a bonus is tied to the sum of a contribution and differs from bank to bank. For example, investors of OTP of Bank can receive 1,5% per annum in addition to a standard rate of bank. Clients receive the Station wagon of Bank and Forward bank to 2% per annum of a bonus. For 4 years of work of the Bonus to Deposits program Ministry of Finance has paid to clients of banks 6 million hryvnias of bonuses. In what banks it is necessary to carry a deposit for receiving a bonus? Now bonuses can be received, having placed a deposit in one of eight banks: The versatile person of Bank Globus Konkord VTB Bank Bank Forvard Kristalbank OTP Bank Bank Alliance the Clients of Monobank who have placed the application through Ministry of Finance in October will play among themselves prizes for 12 000 hryvnias. Investors of six more large Ukrainian banks will play 14 monetary prizes, and the winner will win the first prize of 20 000 hryvnias. Here list of these banks: Alfa Bank VTB Bank of OTP Taskombank Ukrgazbank Ukreksimbank Vse Bank banks which participate in the program are members of Fund of guaranteeing deposits of individuals. And it is possible to receive a bonus if a deposit in dollars? Almost in all listed banks there is a bonus from 0,5% to 0,9% per annum to deposits in dollars and euro. Average interest rates for deposits in dollars don't exceed 3% per annum therefore an increase in 0,5% per annum — very notable. For participation in a draw of money it is enough to place a deposit in any currency. For receiving a bonus it is necessary to strain somehow? The application for a bonus is made out on the website minfin.com.ua, and bonus money comes on with

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