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This content has been automatically translated from Ukrainian.
Due to the state of war and economic instability, Ukrainians are considering saving money and the possibility of increasing their own capital. One way to store and multiply finances is bank deposit.
This is the name of a popular service that implies that the client deposits a certain amount into an account. They can freely use it during the storage period or withdraw it after the term expires. Interest is accrued on these funds.
Advantages of Opening a Deposit
Saving money for the future is advisable both when there is a clear goal (for example, for business expansion, education, or purchasing housing) and without specific objectives. This method of investing has several important advantages:
- Reliability. The finances of depositors are protected by the State Guarantee Fund.
- Simplicity of the deposit opening process. This procedure does not take much time; at Bank Lviv, it is convenient to apply online.
- Guaranteed income. A deposit is an excellent way to earn passive income with a fixed interest rate that does not depend on the level of inflation.
- The ability to choose the currency. Deposits are available not only in hryvnias but also in dollars and euros.
A contract with the bank is concluded for a certain fixed term, during which interest is accrued on the deposited funds. Depending on the type of the chosen program, the client can top up the account at any time and increase their income.
Which Deposit to Choose
Bank Lviv offers clients deposits with various conditions:
- Term deposits for 3, 6, 9, or 12 months. The minimum deposit amount is 2500 UAH, and the maximum is 1 million (according to the currency exchange rate at the time of the contract conclusion).
- Pension deposits for 1, 3, 6, 9, 12, 18, and 24 months with monthly interest payments. The minimum amount to open is 1000 UAH; in the case of foreign currencies, this figure is 50 euros or 50 US dollars.
- Savings account. Its main feature and benefit is the availability of partial withdrawals and deposits without time and amount restrictions.
- The "Free Land" deposit allows for earning passive income and also contributes the earned funds to Bank Lviv's charity program for demining Ukraine. The contract term is similar to that of a term deposit.
Standard rates are up to 15.5% per annum for deposits in hryvnias, up to 2.5% in US dollars, and up to 1.75% in euros, respectively. The savings account provides a fixed profit of 5% per annum in hryvnias on the amount of deposits. An online calculator can be used to calculate the optimal deposit.
In conditions of an unstable economy and constant fluctuations in exchange rates, Ukrainians strive to preserve at least part of their funds with a guarantee of their safety. Deposits protected by the Guarantee Fund are a reliable option not only for preservation but also for increasing profit. Bank Lviv offers many interesting and profitable programs.
Source: Website www.banklviv.com
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