Is it worth putting money on a deposit: risks and tips

A deposit is a classic way to keep and grow your savings. However, many people doubt whether it is worth putting money on a deposit in the current economic environment. Let's take a closer look at the features of such investments, their pros and cons, and alternative ways to save money.

Перш ніж розглядати найкращі депозити, варто зрозуміти, чи підходить цей інструмент саме вам. Ось кілька факторів, які слід врахувати:

⦁ your financial goals and the timeframe for achieving them;
⦁ the level of risk you are willing to accept;
⦁ your desired return on investment;
⦁ the need for access to funds;
⦁ the current economic situation and interest rates on deposits.

Taking these factors into account, you will be able to determine whether it is worth investing in a deposit in your particular case.

Let's look at the main advantages of deposits:

1. Guaranteed return. Banks offer fixed interest rates that do not depend on market fluctuations.
2. Reliability. Deposits are protected by the State Deposit Insurance. This system guarantees the return of funds to depositors even in case of financial problems of the bank.
3. Simplicity. You can open a deposit quickly and without special knowledge.
4. Regular passive income.
5. Inflation protection (partial).

The disadvantages of deposits include the following:

⦁ relatively low yields compared to other types of investments;
⦁ limited access to funds at more favorable terms;
⦁ dependence on the stability of the banking system;
⦁ taxation of income from deposits.

Although deposits have some downsides, their upsides far outweigh their downsides. Their reliability and guaranteed returns make them an excellent choice for conservative investors and those seeking to preserve their savings.

While deposits remain a popular method of saving and growing funds, there are other financial instruments worth considering. Among the most common:

⦁ investments in securities;
⦁ purchase of real estate;
⦁ investments in precious metals;
⦁ participation in mutual funds;
⦁ cryptocurrencies.

Each of these methods has its own peculiarities, risks, and potential profitability. However, most require specialized knowledge and more active management. Therefore, for many people, deposits remain the best choice due to their simplicity and reliability.

Here's what you should pay attention to when deciding which bank is the best to make a deposit with:

⦁ rating and reputation of the institution;
⦁ customer reviews;
⦁ terms and conditions of deposit programs;
⦁ availability of a convenient mobile application;
⦁ additional services and bonuses.

Taking these points into account will help you choose the best banks for deposits. It is worth paying attention to Globus Bank. It offers favorable conditions for placing funds and a convenient GlobusPlus mobile application for financial management.

The procedure is usually simple and does not take much time. Here are the basic steps:

1. Select a bank and deposit program.
2. Prepare the necessary documents (passport, TIN).
3. Contact a bank branch or use the online service.
4. Choose the term, currency and amount of the deposit.
5. Conclude the agreement.
6. Deposit funds to the deposit account.

Using the GlobusPlus mobile app, you can open a deposit in dollars, hryvnias, or euros in a few clicks online from the comfort of your home.

Deposits remain one of the most reliable ways to preserve and grow savings. Although they have certain limitations, their numerous advantages make them attractive to a wide range of people. If you're looking for the best place to open a deposit, check out Globus Bank's offers and the convenience of its mobile app. After weighing the pros and cons, you will be able to decide whether a deposit is right for you.