The meaning of time Deposit account
Opening a Bank account, the client chooses the conditions of the possible range of services. During the entire time of placement of funds are charged a certain percentage in accordance with predetermined conditions. Deposit accounts can be opened not only physical but also legal entities.
The amount of deposits not limited, but there are usually minimum amounts of deposits. To open such an account at any time. The main conditions of the Deposit are considered to be strictly fixed period of storage of funds and impossibility of the use of funds by the customer prior to the expiration of the contract with the Bank. The interest in this case, you can regularly remove or accumulate. Funds placed on Deposit are returned in full after a predetermined date.
Types of Deposit accounts
All types of Deposit accounts can be divided into two main categories – program terms "demand" and "urgent". Each type of Deposit has its own distinctive features, advantages and disadvantages. All the nuances of how the rule is written in the contract with the Bank. Before signing such documents it is better to carefully study all the conditions and, if necessary, to obtain additional advice from employees.
If you have savings and you want to increase your income, then the best option is to open the "urgent" Deposit account. In this case, you should pay special attention to the main condition – the money you can not withdraw during a predetermined period. Such a score is useful in case if you are sure that the funds you will need in the near future.
Deposit account Poste restante have more flexible terms, but with interest rates typically lower than urgent. In this case you place cash on your account and you can remove them completely or partially before the specified in the contract.
Features of Deposit accounts
To open a Deposit account, you can use any currency available in the circulation of the Bank. Additionally, each contributor offers insurance contribution, which implies a refund of the Deposit amount upon the occurrence of bankruptcy of the organization.
Interest received from the Deposit account are subject to tax. Such a rule is established and regulated by law. When withdrawing funds held 13%. The accrual of interest, depending on the program selected, may be monthly, quarterly or capitalization when accrued costs are included in the total amount of the Deposit account.