Category: Banking

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Monthly interest on a deposit: save or spend?

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

We are sure that investors who place funds in deposits with monthly interest payments have at least once asked themselves: is it better to save interest or live on interest and spend it on their personal needs? Today we will figure this out.

There is no right answer to this question. Here everyone chooses their own option – what is better, what is more profitable, what fits into individual plans. The most important thing is that the answer to this question depends on your ultimate financial goals, plans and life habits.

The option to save interest, as well as the option to live on interest, have their own characteristics (advantages and disadvantages). It is worth evaluating what will suit your strategy better.

We accumulate interest:

• This option is definitely suitable if your goal is to increase your capital. Please note that the deposit terms should include not only the option of monthly interest payments, but also capitalization. With its help, the interest accrued monthly will be automatically added to the deposit amount. Thus, the income increases compared to deposits without capitalization. This is the effect of compound interest.

• We protect your funds from inflation and fraud. If you are worried that your savings are depreciating, that there may be a sharp decline in the economy, etc., you should consider a deposit as a savings instrument. Due to the interest, you protect your money from depreciation, and also keep it in a safe and secure place, while the investments will be insured by the Deposit Insurance Agency within 1.4 million rubles. In the event of an unforeseen situation, you will receive compensation.

• Develop financial discipline. Agree that the ability to save money is not inherent to everyone. For some it comes easy, for others it does not work at all, and all attempts do not end with a successful result. Opening a deposit will help develop this skill. You will not be tempted and able to "get into" savings, since, most often, the terms of deposits do not provide for the withdrawal of funds before the deposit term without sanctions for the depositor. Usually, funds can be withdrawn only if the interest paid earlier is lost. This fact will keep you from temptations. For this purpose, a deposit in Solid Bank – "Solid" is perfect. Where you can now place money at an attractive interest rate, which can become higher with capitalization. More details here.

We spend interest:

• A deposit is an additional source of income. For example, you are a pensioner, have some savings, and you do not need to use them for large purchases. By placing money in the Bank at interest, you can receive a monthly increase to your pension. This will allow you to improve your standard of living now. Our "Pension" deposit is ideal for this. You can study the conditions at the link. The option – spending interest strategically is suitable for anyone who wants to use the deposit as a passive source of income for current needs.

The most important thing for you is to know your goals and, based on this, choose financial instruments. We are always ready to consult each of you and help you choose the right options. Contact us at our offices or on the hotline: 8 800 775 56 06.

JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

VBV. SOLIDBANK.ru

8 800 775 56 06 (free call within Russia)

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Just Four Months – Russians Reveal How Long They Are Ready to Live Without a Salary

Translation. Region: Russian Federal

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How do Russians evaluate the financial “safety cushion”?

During the survey, 38% of Russians admitted to having no savings – they have no savings, so not receiving a salary in the first month will have a negative impact on their standard of living. The remaining citizens noted that they have a "safety cushion", savings are enough to live without income:

13% of Russians – no more than a month; 24% – within two months; another 12% of citizens will be able to hold out for up to six months; 7% of respondents are ready to live on savings for up to a year; only 6% of Russians have savings that will last for a year or more.

A similar picture was demonstrated by the results of a similar survey conducted a year earlier. Then, 27% of respondents stated that their savings would last up to three months, and 12% – up to six months. The typical portrait of a person with savings was a family man, holding a management position in a large city and having a higher education.

What has changed in the area of financial literacy among Russians?

Although almost 40% of Russians do not have savings, the level of economic literacy in the country continues to grow. As the results of the study showed:

78% of the population control the family budget; 80% of citizens plan income and purchases; about 50% of respondents keep track of their funds.

“Surveys show that Russians are attentive to money – many plan a budget, control expenses, and keep records,” the expert noted.

By the way, the literacy level of men is higher than that of women. Representatives of the stronger sex tend to plan expenses for a longer period – from six months: women are more likely to make impulsive purchases. Experts reminded that having a “safety cushion” for 3-6 months is the optimal solution that will allow you to survive a crisis or force majeure.

12:00 07/15/2025

Source:

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Solid Bank has joined the implementation of the Long-Term Savings Program

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Solid Bank, together with its partner JSC NPF GAZFOND Pension Savings, has launched a unique savings product – the Long-Term Savings Program. The program was developed by the Bank of Russia and the Ministry of Finance on behalf of the President of the Russian Federation. With it, citizens will be able to create capital or a financial cushion with state support. Savings are formed through personal contributions, state co-financing and the fund’s investment income.

The long-term savings program has the following benefits for depositors:

• State support in the form of cash contributions of up to 36,000₽/year for 10 years.

• Possibility of receiving a tax deduction in the amount of 13%-22% of the amount of contributions paid, not exceeding 400,000₽/year. That is, the client can receive about 52,000-88,000₽/year. This depends on the annual income of the depositor and the personal income tax rate applied to his income.

• Savings are insured by the Deposit Insurance Agency. Personal savings contributions and investment income on them are insured in the amount of up to 2.8 million ₽. And pension savings transferred from the OPS, additional incentive contributions (state co-financing) and investment income on these funds are fully insured, without any limitation on the amount.

• There are no mandatory contributions – replenishment is optional.

• Payments are not taxed if the contract was in effect for at least 5 years, the participant had no more than 3 contracts at the same time, the amount of payments exceeds the amount of contributions by no more than 30 million ₽ for each contract in each tax period.

• Low risk level.

• Legal protection from claims of third parties.

• Possibility to appoint a successor.

• A minimum guaranteed return is established for the first 3 years of the contract.

• Possibility of transferring pension savings under the OPS to the PDS.

Who is eligible for the program?

The program is available for all ages: from youth to seniors, from 18 to 69 years old.

What purposes is the program suitable for?

• Creating capital for future large purchases or a financial cushion.

• Increase your existing capital with minimal risks.

• Investing with minimal risks.

• Protection of savings with minimal risks.

• Ensuring financial stability now or in the future.

How does the program work?

– You need to make a down payment of 30,000₽.

– You can top up your account at any time with an amount from 1000₽.

– You receive state co-financing – 36,000₽/year.

– Apply for and receive additional tax benefits.

– Choose a payment format that is convenient for you – one-time or regular.

For the convenience of clients, online services have been developed that allow you to track the status of your account in the PDS, top it up without a commission via the SBP, and receive the necessary package for processing a tax deduction.

For detailed consultation and registration, please contact Solid Bank offices.

Registration of PDS is available throughout the Bank's network in: Almetyevsk, Blagoveshchensk, Vladivostok, Yekaterinburg, Elizovo, Izhevsk, Irkutsk, Kazan, Krasnoyarsk, Moscow, Novosibirsk, Petropavlovsk-Kamchatsky, St. Petersburg, Tula, Ufa, Khabarovsk, Yakutsk.

 

JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

VBV. SOLIDBANK.ru

8 800 775 56 06 (free call within Russia)

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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07/16/2025 the site may be unavailable in the first half of the day Vladivostok time due to an update

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Dear customers!

We inform you that on 16.07.2025 the bank's websiteVBV. SOLIDBANK.rumay be unavailable for approximately 3 to 72 hours – technical work is being carried out to update the official website of JSC Solid Bank.

For any information about the bank's products, we recommend that you contact the Bank's toll-free hotline: 88007755606.

We also recommend that you save tabs with links to Internet banking and install the SolidPAY mobile application:

Solidpay 

bank2 for legal entitieshttps://ib.solidbank.ru:8443/ibank2/

We apologize for the inconvenience! We strive to become better for you!

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Measures will be tough – the Central Bank warned banks against imposing conditions on deposits

Translation. Region: Russian Federal

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Why did complaints arise about additional conditions for deposits?

Russian investors complain about the behavior banks, which lure customers with higher rates, but require a number of actions to be taken to obtain generous terms. Among the banks that have requirements for high rates on deposits:

Yandex Bank – the 21% rate is valid only with the Plus subscription and once for 62 days;
VTB – 21.5% for 3 months, available only with MiXX subscription;
Sovcombank – a surcharge to the deposit rate of up to 4% is provided for purchases using the “Halva” card with the “Ten” subscription;
MTS Bank – the maximum rate is provided for card transactions over 90 thousand rubles per month;
Sberbank – the best conditions apply to “new money” that has not been stored in accounts for more than two months, as well as when connecting a subscription.

“It is becoming increasingly difficult to simply open a deposit – clients have to study a ton of conditions and meet dozens of criteria in order to receive a favorable interest rate: at the same time, the increased rates are valid for a limited period,” the expert noted.

Banks require depositors to connect paid subscriptions, turnover on cards, keep certain balances, receive salaries into an account – it is much more difficult to calculate the real profitability of such deposits, not to mention convenience and transparency for the client.

How does the Central Bank of the Russian Federation plan to combat the imposition of conditions on deposits?

The Bank of Russia is closely monitoring the situation on the savings products market – credit institutions have been recommended to honestly inform citizens about the terms and conditions and to abandon the practice of putting forward numerous requirements to receive a higher rate. If the recommendations are not followed, the regulator will have to develop amendments to the legislation or create a banking standard to restore order in the industry.

Let us recall that the high key rate has led to a surge in the popularity of deposits – this year, balances on individuals’ accounts have grown by 6%, amounting to over 61 trillion rubles: by the end of the year, the figure could reach 70 trillion rubles. However, after the key rate was reduced (from 21 to 20%), banks began to massively revise the terms of deposits for the worse, but the demand for deposits and savings accounts remains high.

12:00 08.07.2025

Source:

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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07/08/25 the bank's office in Khabarovsk is operating in a limited mode due to an Internet provider line failure

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Dear customers!

We inform you that as of 07/08/25, the Internet provider line failure has not been eliminated, therefore, on 07/08/25, the office of JSC Solid Bank in Khabarovsk continues to operate in a limited mode. The time frame for eliminating the consequences of the failure is unknown, therefore, the resumption of the office's work will be announced separately. The office operates in consultation mode.

Please take this information into account when planning a visit to the bank office.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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