Investing in foods or home appliances is pointless, Uralfinprombank says

‘Delovoy Kvartal magazine’s issue 663 as of November 24, 2008 carried an interview with Uralfinprombank’s Vice President Mikhail Martynenko.

‘Now is not the best time for taking one’s money out of a bank. The crime rate has been on the increase lately due to the economic difficulties, and keeping one’s savings at home is plainly dangerous, while investing large sums of money in foods or home appliances is pointless since these goods get depreciated very quickly. Buying real estate is no solution to the problem, either: all the analysts claim its price is only going to drop. The question is just how much it is going to plummet. The best thing to do therefore is to keep one’s deposits, get the maximum interest, and capitalization, and then invest this money as you see fit. At the moment, things tend to fluctuate a lot, so successful investing is only possible if you have a lot valid experience and nerves of steel,’ Mikhail Martynenko said to the magazine’s reporter.

Meanwhile, Uralfinprombank admitted earlier that they had to impose certain limits on cashing the customers’ deposits. If a customer wanted to cash the deposit in before the end of the deposit period, for example, he or she had to provide some grave reasons for doing so.

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