Deposit programs that enrich the Client

Rules for banking services for individuals

Deposits are a financial instrument that allows individuals and legal entities to save and grow their funds. The essence of a deposit is that the client transfers a certain amount of money to the bank for a pre-agreed period of time. In return, the bank undertakes to return this amount, together with accrued interest, at the end of the contract term, the bank either adds it to the deposit amount or pays it to the client on a monthly basis.

Types of deposits

To choose the right deposit, it is important to understand their main types and features:

• Time deposits: deposits for a fixed term with higher interest rates. They are less flexible, but generate higher returns. The money is deposited for a certain period and is usually withdrawn at the end of that period.
• Demand deposits: deposits without a fixed term. You can withdraw funds at any time, which makes them more liquid. However, interest rates on such deposits are lower.
• Accumulative deposits: a type of term deposit that allows replenishment throughout the term and carries attractive interest rates.
• Savings deposits: another type of time deposit that usually allows both replenishment and partial withdrawal.
• Settlement deposits: universal deposits that provide full control over the movement of funds, allowing both deposits and withdrawals.

The key factor when choosing a deposit is the annual interest rate. It determines how much income you will receive from your deposit. When choosing a deposit, take into account your financial goals, the need for access to funds and the desired level of return.

How to open deposits?

To choose the best deposit, it is important to identify key criteria:

• The purpose of the deposit: clearly define why you are opening a deposit - investing, accumulating a certain amount or creating a financial cushion.
• Deposit term: choose a convenient period for keeping funds on your account.
• Interest rates
• Terms of service: analyse the duration of deposits, interest payment methods and additional options.
• Bonus programs: pay attention to the possibility of receiving additional interest.

For a detailed analysis, you should consult a bank specialist. They will help you choose the best option based on your needs. In addition, you can use an online calculator to calculate your potential profit and optimise the terms of your deposit.

There are two ways to make a deposit:

• Online via Internet banking for existing customers.
• At a bank branch.

What is a foreign currency deposit?
 

When distributing savings, three main currencies are often used: the hryvnia, the euro and the US dollar. Today, hryvnia deposits are the most popular due to higher interest rates, which makes them more profitable for depositors.

If you're in doubt about which currency to deposit in, financial experts advise you to consider two key factors: the currency in which you plan to deposit funds and the currency in which you will keep the money after the deposit maturity date. Essentially, if you don't need to convert funds from one currency to another, it's best to avoid it. Additional conversions can lead to unnecessary costs and, as a result, reduce the actual return on your investment.

Interest rate on deposits

COMINBANK offers several variants of interest rates on deposits with different terms and conditions. Interest rates vary from 8% to 14,5% depending on the type of deposit. For example, a hryvnia deposit and a deposit in euros differ. Foreign currency deposits usually have a lower interest rate. To choose the most favourable option for yourself, you can consult with a manager in the chatbot on the website or by phone to clarify the information.

How is the deposit paid out?

The Bank repays the deposit amount upon maturity of the deposit agreement. There are several ways of calculating interest, depending on the terms of the deposit:

• Monthly payments: interest accrued for a calendar month is transferred to the depositor's current account or card.
• Payout at deposit closure: all accrued interest is paid in a lump sum on the day the agreement is terminated.
• Capitalisation of term deposits: interest is accrued monthly and added to the deposit amount on the first day of the following month.

The choice of accrual method depends on the financial goals of the depositor. Capitalisation provides a higher return, while monthly payments provide a regular additional source of funds.
 

Profitable deposits from COMINBANK

COMINBANK offers a wide range of deposits that allow you to not only preserve but also increase your savings. We offer deposits in UAH, USD and EUR with competitive interest rates. For hryvnia deposits, the interest rate can reach 14,5%, which will provide you with a stable income. Foreign currency deposits also have attractive terms.

Flexible deposit terms - from 1 month to 3 years - allow you to choose the best option for your financial goals. Short-term deposits are suitable for preserving liquidity, while long-term deposits provide a higher return.

The safety of your funds is guaranteed by the Deposit Guarantee Fund. In addition, COMINBANK uses modern technologies to protect customer data and funds, including round-the-clock monitoring to prevent fraud.

It is important to note that our deposit programmes have fixed terms without the possibility of early termination. This ensures stability and allows us to offer more favourable rates. You can manage your deposits through a convenient mobile app and online banking. You can open, top up and close your deposits online, which saves you a lot of time.

In addition, on each deposit page, you will find a convenient online calculator for calculating your potential income. And if you have any additional questions, our managers are always ready to provide professional advice.