How to open a deposit in a bank
If you spend a long time in the office, working from morning until evening and with lunch breaks, quite curious thoughts begin to visit. In particular, how to start making more money, while having more free time for family and friends.
There are many answers to this question and, in fact, they are all correct. However, you shouldn’t immediately take them into service, without experience and certain skills it is very easy to get into trouble. Below we will consider one of the methods how to earn a certain amount of money, without much time and health.
Bank deposit – for beginners
What is the opening of a bank account in the bank there is no need to explain. With this concept, every person encounters at any age. In a nutshell, investments are investments of certain funds to achieve a greater result. And it doesn’t have to be cash. So, in childhood, we planted one grain in the ground, so that in the future a large tree would grow from which to harvest a good crop.
The tools are different, but the essence is the same – to invest part of their capital in order to make a profit in the future. Consider one of the investment methods – bank deposit.
To begin with, it is worth noting that this tool is almost perfect for beginner investors, since you do not need to think about which project to invest your money in, take risks. Trusting the bank, we give them the right to manage our money on the basis of an agreement – invest in various projects. In turn, we get a certain profit as a percentage of the invested amount.
Types of Deposits
There are two main types – urgent and unlimited.
1. Urgent. As the name implies, such contributions are made for a period of time. Often, it is impossible to withdraw money from such a deposit until the expiration of the period specified in the contract. The amount of income depends directly on the initial amount, as well as on the interest rate. Interest accrued during the agreed period may be paid on accrual basis or upon expiration of the term. After the deposit expires, the funds are fully returned to the investor – the initial amount plus interest for this period.
2. Deposits “on demand”. The second type of deposits is demand deposits. Initially, the storage period is not specified in the contract, or rather it does not exist at all. The contribution is quite convenient and simple. The client can replenish the account at any time, as well as withdraw money at will. Money is always available, and it can be opened in any currency.
There is a truth, one small minus – the interest rate, as a rule, for such deposits is not high. The deposit is ideal for those who want to put their capital in a safe place, but always be able to withdraw part of the amount.