Bank deposits are safest, Bank Monetniy Dom says

13 February 2009 (14:13)

‘The citizens of the EU’s sixteen countries located within the Euro zone came to believe in the banking system at the time of a global financial crisis,’ Bank Monetniy Dom reports. According to the European Central Bank, people started to spend less and to place more money on bank deposits. By the end of December 2008, for instance, 1,795 trillion euros had been kept in the form of bank deposits within the Euro zone, which exceeded the figures for 2007 by 1.6%. A certain increase in the bank deposit volume could be noticed in Russia as well. For one, Russian people deposited over 400 billion RUR with the banks last December.

‘Under the existing circumstances, a bank deposit is the safest way of protecting one’s savings, since it guarantees you some income above the inflation rate despite the stock market’s unpredictability and the plummeting real estate prices,’ the bank’s experts explain.

Bank Monetniy Dom is a member of the deposit insurance system, whereas the insurance sum fully covers all kinds of deposits amounting up to 700,000 RUR.

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