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The way interest is accrued also has its own peculiarities. The main question that needs to be answered before calculating the amount of expected interest on the deposit: is the capitalization of interest provided for by the conditions of the deposit? In other words, will the accrued interest be set aside (for example, accumulate on the demand account) while waiting for the depositor to dispose of it, or will they automatically be added to the initial deposit amount and will the interest be accrued on them in the next period?
Consider the various methods of calculating interest in more detail. Suppose Natalya Alexandrovna decided to open a deposit without capitalization of interest in the amount of 30 thousand rubles. at 10% per annum for a period of 3 g. As already mentioned, on deposits without capitalization, interest is accrued only on the principal amount of the deposit.
In accordance with a similar method, called calculation by the formula of simple interest, after 3 years Natalya Aleksandrovna will receive back her contribution in the amount of 39 thousand rubles. Thus, she will receive 9 thousand rubles. As interest on deposits for the entire duration of the contract, or 3 thousand rubles. For every year while the money was in the bank.
Now consider deposits with capitalization of interest. here the situation is somewhat different. In particular, interest is accrued not only on the main part of the deposit, but also on interest that was accrued
Lena earlier. In other words, if the deposit is kept in the bank for 3 years and interest is accrued every year, then in the second, and then in the third year, interest will be accrued on previously accrued interest (you can tell a friend that interest is capitalized). Let's get back to Natalya Alexandrovna. She saw another proposal, according to which the same amount (30 thousand rubles) could be put on the same term (3 years) and at the same percentage (10% per annum), but with interest capitalization. Thus, in the first year of the deposit agreement Natalia Alexandrovna interest will be accrued in the amount of 3 thousand rubles.
(30,000 rubles. • 10% = 3000 rubles.)
And added to the amount of the deposit. In the second year, Natalya Alexandrovna will accrue as interest already 3300 rubles:
(30 000 rubles + 3000 rubles) • 10% = 3300 rubles.
This income will also be added to the deposit amount. For the third year, Natalya Alexandrovna will be charged 3,630 rubles:
(30,000 rubles + 3,000 rubles + 3,300 rubles) • 10% = 3,630 rubles.
The third year is the last term of the deposit agreement; therefore, Natalya Alexandrovna will be given 39,930 rubles:
30,000 rubles. (deposit amount) + 3000 rubles.
(Interest income for the first year of the deposit) + 3300 rubles. (interest income for the second year of the deposit) + 3630 rubles. (interest income for the third year of the deposit) = 39 930 rubles.
Now you know the difference between a contribution with capitalization and a contribution without capitalization of interest, and you can easily compare these two types of interest income. On a deposit without interest capitalization, the bank will return 39,000 rubles to Natalya Aleksandrovna, and on a deposit with interest capitalization, it will receive 39,930 rubles back from the bank. (930 rubles more!). Now you understand that the bank can declare the same interest rate on deposits, but the profit you receive will be completely different. In the long term, the income from a deposit with capitalization of interest will be significantly higher than from a deposit without capitalization, and this should be taken into account when choosing a suitable deposit. Currently, almost all sites of commercial banks have calculators that allow you to calculate the amount of interest that you will receive at the end of the contract.
You also need to remember one rule that is mandatory for the bank and beneficial for you: in general, banks do not have the right to change interest rates and the method of calculating income until the expiration of the deposit agreement. In other words, if Natalya Alexandrovna entered into an agreement for 3 years at 10% per annum with interest capitalization, the bank does not have the right to change this interest rate, it does not have the right to reduce the term of the contract, and it does not have the right to change the method of calculating interest on a simple interest rate. if the bank does this, then you have every right to contact the Rospotrebnadzor, which will help you in this situation. In some cases (for so-called deposits with a floating interest rate), the bank reserves the possibility of changes in the rate, but only in excess of the established minimum level, which is guaranteed to the depositor in any case. Another question that you need to decide when deciding to open a bank deposit: in what currency do you keep your savings? The difficulty here is that foreign exchange rates (ratios in which rubles are exchanged for dollars, euros, pounds, etc.) can change significantly over time.
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