Where to invest money to get the most benefit? We tell you how to choose a bank deposit and what income you can expect.
How to choose the right deposit
At first glance, it seems that a profitable deposit is one with the highest interest rate. But in fact, there are many more parameters that affect profitability. Therefore, in order to choose a suitable program, you need to start from your own financial goals.
Answer the following questions:
Do you want to receive interest regularly or would a lump sum payment at the end of the term be more appropriate?
If you are interested in regular interest payments, do iceland mobile database you plan to spend the money right away? Or do you want the interest income to be added to the total amount in the account, increasing your profit?
How much money are you planning to invest?
In what currency?
For how long?
Is there a high probability that you will need the invested money ahead of schedule?
Answers to these questions will help you choose a banking product that best suits your needs.
How do deposits differ?
The main goals of any deposit program are to preserve savings, protect them from inflation and fraud risks, and receive income from interest. Income depends on a combination of criteria: investment term, amount, interest rate, and bank terms.
When deciding where to invest your savings, rely on the classification of deposits below.