A bank deposit is the best tool for a financial safety net, says AMarkets analyst

The most reliable tool for creating a financial safety net is a classic bank deposit, said leading AMarkets analyst Igor Rastorguev. In a conversation with Lenta.ru, he noted that now there are particularly favorable conditions for this: short- and medium-term rates have even increased after the pause of the Central Bank (CB).

According to him, the cushion should be available at any time without loss or risk of depreciation. This does not apply to stocks, currency or real estate - they can fall in price just at the moment of force majeure. The deposit provides predictability, protection through an insurance system and a fixed return known in advance.

On September 11, the Bank of Russia kept the key rate at 14 percent, taking a pause for the first time in a year and a half after ten cuts in a row. The reason is the acceleration of inflation to 6.3 percent against the backdrop of rising fuel prices and retirement of oil refining capacity, the economist explained.

“At the September meeting, the rate reduction was not discussed in detail at all - this is a stronger signal than just a technical pause. For depositors, this means that high returns on deposits may last longer than expected,” the specialist explained.

He noted that according to Financial Services, as of September 11, the average rate on three-month deposits was 13.63 percent, on six-month deposits - 13.15, on annual deposits - 12.37 percent. The best offers from the top 20 banks reach up to 19 percent on short-term deposits for new clients. At the same time, the yield on two-year deposits dropped to 10.98 percent, and on three-year deposits - to 10.67. Therefore, it is wiser to choose deposits for 3-6 months with the possibility of replenishment. The optimal volume of the cushion is expenses for 3-6 months of life, and it is worth storing the amount in a bank that is part of the deposit insurance system, diversifying among several banks if the amount exceeds 1.4 million rubles.

Rastorguev explained that two more meetings of the Central Bank are planned before the end of the year - on October 23 and December 18. A reduction to 13.5-13.75 percent is expected, although it is possible that the rate will remain at 14 if inflation risks increase.

“For those who have not yet formed a cushion, it is wiser to fix current conditions now, rather than postpone in anticipation of higher returns,” the economist concluded.