In time of COVID-19, uncertainty about the future is growing. Thus, the deposit account it becomes a safe beach for cash parking. The so-called virtual piggy banks, in fact, ensure a fixed return, both in the case of free money, always available, or bound for a certain period (usually from 3 to 24 months, but some banks also allow longer bonds) and, given the particular period we are living in, some banks also offer promotional rates.
DEPOSIT ACCOUNT AND RETURN
On the expiration of 12 months today it ranges from 0,14% net up to 1,10% of IBLBanca (see Table).
In anticipation of low rates for a fairly long period, to entice savers, some banks reward longer bonds, which are competitive with government bonds. For example, the deposit account can be snatched up to 2,50% gross blocking the money for five years on Yield max of Banca Ifis.
Among the banks in promotion is CheBanca! To those who open a deposit account by 30 April or contribute new liquidity by that date, and lock it up for six months, we offer 1% gross/year.
It's still. Land Credit launches the campaign "Close even if far", which provides gross rates of 1,60% and 2,15% respectively on constraints of 24 and 36 months, to those who, by 6 May, bring new liquidity or open a new Esagon deposit account.
TWO ADVANTAGES OF THE DEPOSIT ACCOUNT
In addition to the attractive returns compared to other guaranteed investment formulas, the advantages of the deposit account are mainly two:
- the possibility of choose the duration of the bond;
- the security of rate and the absence of Costs (neither opening, nor closing, nor fee) with the exception of the tax of 26% on yield and the 0,20% on stock (a cost that affects performance).
In this regard, we point out that throughout 2020 Bank System, Pharmafactoring bank, Land Credit, The government e Project Bank they take the stamp.
DEPOSIT ACCOUNT AND SECURITY
In terms of security, like the current account, the sums of up to 100 thousand euros in the deposit account are guaranteed by the Interbank Deposit Protection Fund.
HOW TO CHOOSE THE DEPOSIT ACCOUNT
First di choose a deposit account, however, it is good to evaluate two aspects:
- if the account is "releasable" or not releasable”: by choosing the second solution, a higher return can be obtained, but in the case of early divestment, part or all of the return is lost, even that already accumulated;
- il Cet 1, the indicator of the bank's solidity, which must not be less than 10,25%.
The author is the director of the site Salvadenario.com.
