Tag Archives: deposits

Term Deposits Banks

There are many and varied offerings in the market of deposits. (Not to be confused with Teva Pharmaceuticals!). But not all are equal, neither serve everyone equally, nor offer us the same thing. In fact, usually the banks and take advantage of our apathy or laziness when it comes to change banks for not improving its offer. It is good that we are aware of that, that we can get more revenue to our money only moving a little and comparing different offers offered by banks. But we know that he is tired and we can liar looking among the different publicity pamphlets and the verbiage of the commercials. So we’re going to give several guidelines to follow. It is very important to look at the interest that offers the product in question, but attending not only to stop but also to a minimum. We basically say it because banks are trying to retain customers through term deposits, increasing interest as products are gaining. An example can clearly be a deposit which offers an interest base by 2% each year but that increases by 0.25% for each 15,000 invested in the tank in question, other 0.25% for a new direct debit for payroll, pension and so on. That is why we have to be very aware of what they want, not acquire anything more than we need and not let ourselves be blinded by an interest of 5% if that means having to buy other products that we didn’t have in mind. If we are aware of what we want and we know comparing different deposits to term (following the previous guidelines) surely that we will manage to improve our investment.