Deposit account yield: is it still worth investing?

 

Deposit account yield: is it still worth investing?
Is the deposit account a tool from which you can still get great returns? Let's find out together. 


The deposit account is a particular type of bank account, from which it is possible to obtain returns: it is characterized, in fact, by the application of an interest rate in the case of deposit of some sums, for more or less long periods of time. 

It can be distinguished between:

  • classic deposit account , which is what you subscribe to at the physical branch of a bank;

  • online deposit account , that is the one that has an online current account as a support base. 

From what has just been said it therefore emerges that a deposit account requires a current account, from which the sums to be deposited on it are withdrawn, and into which they are paid in case of closure of the same, or transfer of funds. 

The question to which we will try to answer in the next lines is the following: are the returns on a deposit account so high as to allow for really interesting gains? 

Discover the best online current account offers

What are the advantages of a deposit account

Opening a deposit account is even easier than opening a current account: you must be of legal age, already hold a current account (even online) and present an identity document and your tax code. 

The reasons for putting a portion of your savings into a savings account are very simple. The first is the yield which, albeit minimal, is still present: this means that it will be possible to obtain something from the savings deposit (while in the case of the current account it is much more likely that they will suffer erosion). 

The deposit account is a safe investment tool : it differs from other activities, such as investing in the stock market, for the fact that there is no real risk of losing one's capital. 

The latter is also covered, up to a maximum amount of 100,000 euros, by the Interbank Deposit Protection Fund , which represents a real guarantee against any bank failure. 

In addition, please note that:

  • there are neither opening costs nor closing costs;

  • the taxation is not excessive (there is a stamp duty and a 26% which is applied to any returns). 

Deposit accounts are different from each other: interest rates are often linked to the so-called constraint, which we will analyze in the next paragraph. 

Activate an online current account with a deposit account

Difference between restricted and non-restricted deposit accounts

In addition to the offline and online deposit account, it is also possible to distinguish between:

  1. escrow account;

  2. unencumbered deposit account. 

The first makes it possible to obtain the highest returns: the fact that deposits cannot be touched until the end of the bond allows for higher interest rates to be applied . In the event that a bond were to be released, the accrued interest could be lost, or a penalty would have to be paid to the bank. 

In the case of an unencumbered (or free) deposit account, the interest that you can earn from your deposit will be lower. However, it will be possible to withdraw the deposited amounts at any time and freely dispose of them again, instantly transferring them to your current account. 

The choice of the best deposit account is linked, more than to objective factors, to completely subjective reasons: the wisest suggestion is to sign up for an online current account with a convenient associated deposit account . 

Best online deposit accounts: the ING Direct proposal

ING Direct offers one of the best online deposit account offers among those available on the market today, which can be accessed by customers who have chosen to activate the Orange current account . 

The latter provides for the cost of the fee and the associated credit card free for one year , for all subscriptions that will take place by 31 March 2022. In addition, it allows access to:

  • SEPA transfers up to € 50,000 online and over the phone free of charge;

  • cash withdrawals in Italy and Europe without commissions;

  • 1 check form per year. 

It is an online current account, 100% digital, which can be managed in full remote mode, from a PC and from the app, and which also includes a zero euro MasterCard debit card, in addition to a free credit card for 1 full year. . How does the Arancio deposit account work?

The ING deposit account is called the Orange account and is characterized by the following services:

  • absence of constraints : you will have your money always at your disposal, you can transfer it to your current account and withdraw it at any time;

  • absence of expenses , as all the opening, management, transfer and closing operations are free;

  • maximum freedom even from mobile , as it will be possible to manage money 7 days a week, 24 hours a day, via computer and smartphone.

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