The deposit is automatically extended after the end of the specified period. Deposit extension

Prolongation means extending the term of the contract. This term is used in the banking or insurance industry. You can extend deposits, insurance contracts and other contractual relationships with financial companies. As a rule, services are extended for the same period and under the same conditions. But it is important to independently study the conditions for renewal. Today we’ll talk specifically about banks, and in this article you will learn what a deposit extension is, how convenient and profitable it is, and how not to lose the interest you’ve earned.

Automatic renewal

A bank deposit implies making a profit for the client. Each deposit is placed in an account at a certain interest rate and certain period specified in the deposit agreement. In this way, you can not only keep your savings in a safe place, but also increase cash through bank interest. At the same time, having absolutely no risks, since most banks participate in the insurance program for 1,400,000 rubles.

Upon expiration of the deposit term, the depositor can make an independent decision on whether to withdraw all money, including profits, or extend the placement of the deposit at interest. In this case, the renewal service is issued on the basis of a written application from the client. An additional agreement is signed, where the conditions under which the relationship will continue are discussed.

But when placing a deposit, you can initially sign the conditions on the basis of which automatic renewals will occur, so that after the expiration of the contract, the contract will be renewed automatically without signing additional agreements or visiting the office.

When making a deposit, it is important to study the documents that the bank offers to sign. A separate clause or a separate agreement may include conditions for extension that this is included in the selected deposit product. But automatic renewal is not the client’s obligation, but his right. On the day the contract ends, you can use the money at your own discretion. When signing documents for automatic extension of a deposit, it is important to pay attention to the following conditions:

limited number of possible auto-renewals. If the agreement specifies how many times the deposit is extended, then after this amount is exhausted, the money will be transferred to a regular deposit with minimal interest rates that do not bring profit;
automatic renewal has its own terms. This means that upon expiration of the main contract, it can be automatically extended for the period specified for auto-renewal. As a rule, these terms coincide, i.e. if you had a deposit for a year, this deposit will be extended for another year in the bank;
interest rate conditions. The terms of the extension, which are specified in the additional agreement, may differ from the terms of the deposit. Thus, the interest rate may be set differently. For example, a deposit was opened at 7.5% for a year, and for prolongation the rate was set at 6%. This means that in a year your contribution will bring in less profit as a percentage;
regardless of these conditions for auto-renewal, at the time the deposit is valid, the interest rate will be the same as that specified in the agreement before completion;
capitalization of interest. The profitability of your deposit can be increased due to capitalized earned interest on the fixed assets of the deposit. This amount can be used at your own discretion. Interest can be withdrawn to your deposit account or card on the day the contract is completed. Or they can be left in the deposit, and the extension will occur with the addition of interest to the deposited funds. It is impossible to withdraw interest before and after prolongation without losing money, unless this is provided for by the conditions;
if the extension is not assigned, then the bank transfers the money along with the earned amount to a deposit account with minimum interest. All funds can be withdrawn at any time;
The bank is constantly expanding and changing its line of deposit products based on the market situation. There may be more than one of these products and the offer is for a limited time. Therefore, if the conditions for your deposit are moved to the archive, then the bank will not be able to extend the agreement and will transfer the money to the deposit.

In any case, when the closing date of the deposit approaches, it is worth checking with specialists about options for extending the validity period or inquiring about the possibility of withdrawing money.

The investor decides independently how to manage his money. The bank deposit has low profitability, but at the same time minimal risks of losing money. If the budget allows you to continue investing and you choose banking direction, then it is worth considering the advantages and disadvantages of prolongation. Let's talk about the pros first.

pros

The main advantage is that it automated process, i.e. you don’t have to contact a banking organization and sign additional agreements. It is enough to ask remote communication channels about the possibility of renewal and conditions and continue to earn bank interest.

Without auto-renewal, the money will go to a deposit account that does not generate profit. Accordingly, given the fact that it is not possible to contact the bank during this particular period, you may lose part of your profit. For example, the agreement ended in October, and to sign a new agreement, the investor will be able to contact the office only in November. Thus, you can miss out on interest for the month.

Minuses

Renewing the contract on an automatic basis assumes that on the day the deposit ends, you will make a decision on how to dispose of the earned profit. And if the interest is not collected, it will be capitalized in new contribution. After that, it will be possible to withdraw the amount only at the “on demand” rate, which will lead to loss of profit. Although, if the contract provides partial withdrawal, then this will not affect profitability.

Before expiration, we recommend that you contact the bank and find out how you can withdraw part of the money if you have plans to carry out such an operation. Some companies issue funds based on an application, which may take several weeks to process.

You should also review the renewal terms. Since the interest rate may be changed or an inconvenient validity period may be provided. Moreover, the product may simply be transferred to the archive, and the contract will not be renewed.

Before expiring the deposit, it is necessary to assess the current market situation. Bank rates are constantly changing, they depend on several factors, including refinancing rates set by the Central Bank.

If the client has an automatic extension of the deposit, then you need to clarify the assigned interest rate. And check current banking products for deposits. For example, if the rate for prolonging a deposit in Sberbank is 6%, and in the same Sberbank or other banks there are offers of 7.5%, then you can withdraw money on the day the validity period expires or open another deposit. Thus, the extension will not work.

Also, if the investor has not yet decided where to sell the funds, and the agreement provides for auto-renewal, then he can contact the branch banking organization and write an application to cancel the contract extension. The money will be transferred to a simple deposit account, from which you can then withdraw funds for your own needs.

Let us highlight the main points that relate to the issue of prolongation. A contribution is not entirely passive income. To get maximum profit, you should always select Better conditions. Taking into account inflation, the profit on such accounts may be minimal. Therefore, before deciding to prolong, assess the market situation.

Auto-renewal may not occur if the current banking product no longer works, this happens regularly. Therefore, when the expiration date approaches, check the possibility of extending the contract. It is also worth paying attention to the terms of the extension itself, so as not to lose profit in the form of interest.

In any case, such a service is quite convenient: it can save time for investors and is provided free of charge. We also recommend using personal accounts of banking companies to always be in the know.

Opening a deposit in a bank – good way save and increase the accumulated amount. The client selects a credit institution for cooperation, suitable conditions (rate, terms) and signs an agreement. Often, as a convenient “bonus”, he is offered additional service– prolongation of the deposit. This is an opportunity to extend it on conditions similar to the original ones, without signing a new agreement.

What is extension?

Opening a deposit always implies concluding an agreement between the client and the bank, which stipulates essential conditions deposit:

sum;
interest rate;
deadlines;
other conditions (prolongation, capitalization of interest, etc.).

Prolongation is the ability to extend the term of a deposit without concluding a new agreement. The conditions remain the same as those originally chosen by the client. This service is in demand in situations where the deposit has expired, but citizens are in no hurry to go to the bank to withdraw their own funds.

Types of prolongation

Depending on the method of carrying out the procedure, it is divided into two types:

Does not require a personal visit from the client

Automatic deposit extension - what is it? A condition included in the text of the deposit agreement, giving the bank the right to extend the storage period of funds an unlimited number of times without signing any additional agreements, without obtaining the written consent of the client.

The terms of the deposit period remain unchanged, the rate varies, depending on the current tariff policy credit organization. The auto-renewal clause saves time for both the bank and the client.

Requiring the personal presence of a citizen

This is a non-automatic extension, which assumes that a few days before the end of the deposit term, the citizen comes to the bank and signs an additional agreement on its extension. This type of procedure is less in demand because it means a significant time investment for the client.

Where can I open a deposit?

At Sberbank Online, an ATM or a bank office.

Is it possible to open several deposits in my name at once?

You can open any number of deposits.

Can I open an account in the name of another person?

To open a deposit in the name of another person, you need your passport and a notarized photocopy of the passport of the person in whose name the deposit is being made.

Is it possible to open a deposit for several people at once, for example, a family?

The deposit is opened for only one person, but you can arrange for free: receiving money and account statements, replenishment and depositing, closing and transferring to other accounts. To do this, contact the Sberbank office. The power of attorney is valid for three years. The authorized person does not have to come.

In what currency can I open a deposit?

Find deposit and money

Is it possible to find out about the presence of the deceased’s contribution under the will? How can I find a deposit if I don’t know which office it was opened in?

You can fill out an application to search for accounts at any bank branch. To do this, you need to indicate personal data and regions of Russia in which you should look for accounts. If we are talking about inheritance, then such a request can be issued by a notary.

How do you know that money has been credited to your account?

You can check the credit to your account in Sberbank Online or the contact center at 900.

Close the deposit and withdraw money

How does the bank notify that the deposit term is ending?

Information about the expiration date of the deposit is in the deposit agreement, as well as in Sberbank Online.

Under what conditions is the deposit renewed?

If you have not withdrawn the money from the deposit, it is automatically renewed on the terms and at the rate that are in effect on the renewal date. Thus, the interest on the deposit may change. If the deposit is no longer valid, it is extended as specified in the agreement.

When can I withdraw my deposit if the deposit period ends on a weekend?

Go to Sberbank Online and transfer money from your deposit to your card at any time - you can use it immediately. Or come to the office on the next working day.

How to withdraw money from an account or savings book from another region?

Contact the office and submit a request for transfer from another region. In three business days the money will be in your bank.

Get income

What is interest capitalization?

Capitalization is the addition of interest to the deposit amount so that interest accrues on the interest. This is often called compound interest.

Is it possible to increase the interest rate on a deposit during the validity period of the deposit?

Yes, if this is written in the deposit agreement.

Is it possible to withdraw the interest added to the deposit amount and in what way?

Interest added to the deposit amount can be withdrawn at any time in whole or in part. Receive interest through Sberbank Online or at the bank office.

How to find out how much interest is accrued on a deposit?

Accrued interest can be checked in Sberbank Online or the bank office.

What's happened maximum amount contribution?

The maximum deposit amount is the deposit amount at the end of the day on the date of opening or prolongation of the deposit, increased by 10 times. For deposits for which the deposit amount at the end of the day of opening or prolongation is less than 100,000 ₽ / 5,000 $ / 5,000 €, the maximum amount is 1 million ₽ / 50,000 $ / 50,000 €.

What is the minimum balance?

The minimum deposit balance is minimum amount, which must be kept in your account for the duration of the deposit.

The savings book has been lost, the depositor cannot come, but I have a power of attorney. Can I get interest without a book?

To receive interest without a savings book and a depositor, contact the office with a passport and power of attorney.

Request documents

How to get a statement from a deposit account?

Can I request a deposit statement from the bank office where I opened the deposit?

A deposit statement is issued free of charge upon presentation of a passport.

Manage deposits remotely

Will I be able to withdraw money from a deposit opened with Sberbank Online in different regional banks?

If you plan to withdraw money in another region, fill out an application to request the amount at the office. After three business days you will be able to withdraw your money.

I am a citizen of another state, but temporarily reside in Russia and want to make a deposit. What documents should I provide?

To open a deposit you need a Russian passport or foreign citizen, temporary residence permit or residence permit.

I live abroad, but I have a deposit in Sberbank. What does it take for my relative to manage the deposit?

Execute a power of attorney to dispose of the deposit from a notary or a person with appropriate authority, for example, a consul.

Can I bequeath the deposit funds to my relatives?

To bequeath a deposit to third parties, draw up a testamentary disposition at the bank office where the deposit account is opened, with a notary or persons with appropriate authority.

What should I do if my savings book is with another person with a power of attorney, but I can’t come and don’t want him to withdraw money from it?

Have the application to revoke the power of attorney certified by a notary. In the application you must indicate your full name, office number where the deposit is opened, account number, details of the revoked power of attorney. Send the application by mail to the bank office where the deposit is opened.

Get compensation

Is compensation paid to investors and heirs if they are not citizens of the Russian Federation now?

Compensations are paid only to citizens of Russia, with the exception of compensation to the heir to pay for funeral services on the accounts of an investor who died in 2001–2015. At the same time, the investor had to remain a citizen of the Russian Federation on the day of death.

What if, when paying compensation amounts, the account was closed and the savings book was confiscated?

You will receive payments even without a passbook for 1991. All deposits with balances as of June 20, 1991 are formed into permanent storage lists. You can get a certificate of balances as of this date at the office where deposits are stored.

If deposits opened before June 20, 1991 were closed, and the investor does not know the numbers of the closed deposits and the office number where these accounts were kept, can they be found?

In offices they can find closed deposits at the request of the investor or legal heir, and a notary request. The information will be certified by the signature and seal of Sberbank.

If the depositor (legal heir) does not live in the city in which he kept the deposit on June 20, 1991, what to do?

Write an application for transfer of deposit at the bank office at the place of residence of the depositor, representative, or heir. You will also need a passbook and an agreement, if you have drawn one up, to transfer the entire deposit and close the account. The money is transferred taking into account all interest and denomination dated January 1, 1998. The transfer is paid.

I am the parent/adoptive parent of a minor. What documents do I need to show to the bank to open an account for my child?

To open an account in the name of a child (provided that he is a citizen of the Russian Federation), you need to provide the bank with:

Certificate of registration with tax authority parent or adoptive parent and minor - if available;

If the parent or adoptive parent is a foreigner or stateless person, you will need a migration card and, if applicable, a permit to stay/reside in Russia.

What documents do a parent or adoptive parent need to receive money from the account of a child under 14 years of age and make debit transactions on the account?

To operate on a child’s account, a parent or adoptive parent needs:

Your passport or other identification document;

Child's birth certificate or notarized copy;

If the parent or adoptive parent is a foreigner or stateless person, you will need a migration card and, if applicable, a permit to stay/reside in Russia;

Preliminary written permission from the guardianship and trusteeship authority to receive funds or carry out expenditure transactions.

I am the guardian/trustee of a minor. What documents do I need to show to the bank to open an account for my child?

To open an account in the name of a minor, a guardian or trustee needs:

Your passport or other identification document;

Birth certificate (for a child under 14 years old), or passport (for a minor aged 14 to 18 years), or their notarized copies;

A document from the guardianship and trusteeship authority on the appointment of a guardian or trustee;

Certificate of registration with the tax authority of the legal representative and the child (if available);

If the guardian/trustee is a foreigner or stateless person, you will need a migration card and, if applicable, a permit to stay/reside in Russia.

What documents does a guardian need to receive money from a child’s account or make debit transactions?

For transactions on the child's account, the guardian must provide:

Your passport or other identification document;

Document from the guardianship and trusteeship authority on the appointment of a guardian;

If the guardian is a foreigner or stateless person, you will need a migration card and, if applicable, a permit to stay/reside in Russia;

Preliminary written permission from the guardianship and trusteeship authority to receive money from the account.

I represent the educational/medical/social organization under whose supervision the minor is. What documents need to be shown at the bank to open an account for a child?

If the legal representative of the child is an organization, to open an account the manager or trusted employee needs:

Power of attorney - for an authorized employee of an organization, issued on behalf of the organization by its head;

The charter or regulations of the organization, or their notarized copies, an extract from the Unified State Register of Legal Entities (USRLE).

What documents are needed by an organization (educational, medical, social) under whose supervision a minor under 14 years of age is in order to receive funds from the child’s account and make expense transactions on an account (other than the nominal one)?

If the depositor of the account is a child (a minor under 14 years of age), and his legal representative is an organization represented by a manager or an employee authorized by power of attorney, then in order to make debit transactions on the account opened in the name of the child, the following documents must be presented to the bank:

Passport or other identification document;

Order on appointment to the position of head of the organization or its notarized copy;

For an authorized employee of an organization - a power of attorney issued on behalf of the organization by its head;

Child's birth certificate or its notarized copy;

A document from the guardianship and trusteeship authority regarding the placement of a minor under supervision in an organization;

Constituent documents (charter or regulations) of the organization or their notarized copies, extract from the Unified State Register of Legal Entities (USRLE);

Preliminary written permission from the guardianship and trusteeship authority to receive money or carry out expenditure transactions.

Who can request a bank account/deposit statement for a minor under 14 years of age?

An account statement is issued free of charge to the legal representative of the minor - a parent, adoptive parent, guardian or organization under whose supervision the minor is placed. Can act as a legal representative individual(guardian/trustee) appointed by the guardianship and trusteeship authority or legal entity - educational/medical/social services organization under whose supervision the minor is placed.

At what age can a minor independently open a bank account/deposit?

A minor from the age of 14 can independently open a bank account.

Who can open a bank account in the name of a minor?

A deposit can be opened in the name of a minor by the following persons:

Legal representative: parent, foster parent, guardian, trustee;

The donor (third party) upon presentation of his passport or identity document, as well as a birth certificate or passport of a minor, or their notarized copies.

Who can open a bank account in the name of a minor?

An account can be opened in the name of a minor by the following persons:

For minors over 14 years of age upon presentation of a passport;

Legal representative: parent, adoptive parent, guardian.

When opening a deposit in the name of a minor, does the bank issue a savings book?

A savings book is issued at the request of the minor over 14 years of age or the person opening the deposit.

How to manage money in the account of a minor from 14 to 18 years old, including an account/deposit opened by him/herself?

Debit transactions on the account of a minor from 14 to 18 years of age are carried out by the account owner or on the basis of a power of attorney issued by the depositor at the bank or with a notary. To issue a power of attorney, you need the written consent of the legal representative and the prior written permission of the guardianship and trusteeship authority.

For a minor from 14 to 18 years of age, permission from the guardianship and trusteeship authority and the consent of the legal representative are not required to manage amounts of earnings, scholarships, unemployment benefits, funds in the form of material support, prizes awarded for winning olympiads, competitions and other events, amounts deposited in cash or transferred by the depositor himself, as well as accrued interest, with the exception of expenses on deposits opened in Sberbank Online.

The amounts of pensions, benefits (except for unemployment benefits), alimony, inheritance and insurance amounts, including the loss of a breadwinner, as well as amounts transferred or transferred in cash from third parties, including legal representatives, a minor from 14 to 18 years of age may receive or spend with the written prior permission of the guardianship and trusteeship authority, as well as the written consent of one from the parents (guardian).

Can a minor from 14 to 18 years of age issue a power of attorney to carry out transactions on his account/deposit?

A minor can issue a power of attorney to manage money in his account either at a bank or at a notary. To issue a power of attorney in mandatory You need the written consent of the legal representative and the prior written permission of the guardianship and trusteeship authority to issue a power of attorney for the account.

Is it possible for a minor between 14 and 18 years old to open several deposits in his name at once?

A minor from 14 to 18 years of age has the right to have any number of deposits in a bank.

Where can a minor between 14 and 18 years old open an account/deposit?

Accounts can be opened:

At the bank office;

Remotely - in Sberbank Online and ATMs, if a minor has entered into a banking service agreement.

Who can request a bank account statement/deposit statement for a minor between 14 and 18 years old?

An account statement for a minor aged 14 to 18 years can be issued upon application:

The account owner (depositor) or his authorized representative;

Legal representative of a minor from 14 to 18 years of age: parent, adoptive parent, guardian.

The deposit statement is issued free of charge.

Where can I get a certificate of the existence of an account opened in the name of a minor, incompetent, or limited in legal capacity depositor for presentation to the embassy?

To obtain information, contact the bank office. The certificate will be provided on the day of application. A fee is charged for the certificate in accordance with the bank’s tariffs in force on that day.

Can a minor, incompetent, or limited in legal capacity citizen bequeath funds in his account?

No. According to paragraph 2 of Article 1118 of the Civil Code Russian Federation a will can be written by a citizen who at that moment has full legal capacity.

Who has the right to make transactions on the account/deposit of an incapacitated depositor?

On an account opened in the name of an incapacitated citizen, transactions are performed by his legal representative - a guardian.

What documents must be presented to the legal representative appointed by the guardianship and trusteeship authority in order to receive funds from the account of an incapacitated ward?

If a legal representative (guardian appointed by the guardianship and trusteeship authority) contacts the bank to carry out transactions on the account of a ward - an incapacitated person, other than the Nominal Account, then the following must be presented to the bank branch:

Identity document of the legal representative - guardian;

Identification document of the investor (incapacitated) or its notarized copy;

A document from the guardianship and trusteeship authority or a court decision on the appointment of a guardian;

Certificate of registration with the tax authority of the legal representative and investor (if available);

Preliminary written permission from the guardianship and trusteeship authority to carry out debit transactions on the ward’s account.

Who can request a bank account statement (deposit) for an incapacitated depositor?

An account statement for an incapacitated depositor can be issued upon the application of the legal representative of the incapacitated depositor - the guardian. The deposit statement is issued free of charge.

Who has the right to manage funds in an account opened in the name of a citizen limited in legal capacity due to a mental disorder?

Debit transactions on an account (deposit) opened in the name of a person limited in legal capacity due to a mental disorder are carried out by the account owner himself or his authorized representative under a power of attorney executed by the depositor at the bank or with a notary. To issue a power of attorney, the written consent of the legal representative and the prior written permission of the guardianship and trusteeship authority are required.

For a person limited in legal capacity due to a mental disorder, the permission of the guardianship and trusteeship authority and the consent of the trustee are not required to receive from their account amounts of earnings, scholarships, unemployment benefits, funds in the form of material support, prizes awarded for winning Olympiads, competitions and other events , amounts deposited in cash by the depositor himself, as well as interest on the account.

Pensions, benefits, with the exception of unemployment benefits, alimony, insurance amounts, including for the loss of a breadwinner, inheritance amounts, money transferred by third parties, as well as money accepted in cash from third parties, including legal ones, on the account (deposit). representatives limited in legal capacity due to a mental disorder can receive (perform expense transactions) with the written prior permission of the guardianship and trusteeship authority, as well as the written consent of the legal representative (trustee).

Who has the right to manage funds in an account opened in the name of a depositor limited in legal capacity due to addiction to gambling, alcohol or drug abuse?

Expense transactions on an account opened in the name of a person limited in legal capacity due to partiality are carried out by the depositor himself (account owner), his authorized representative on the basis of a power of attorney executed by the depositor at the bank or with a notary, or by a legal representative (trustee). To issue a power of attorney, the written consent of the legal representative and the prior written permission of the guardianship and trusteeship authority are required.

With the consent of the trustee, the depositor manages in his account the amounts of earnings, scholarships, unemployment benefits, funds in the form of material support, bonuses awarded for winning Olympiads, competitions and other events, amounts deposited in cash by the depositor himself, as well as interest on the account or contribution.

With the written prior permission of the guardianship and trusteeship authority, as well as the written consent of the trustee, the investor disposes of pensions, benefits (except for unemployment benefits), alimony, insurance, including for the loss of a breadwinner, inheritance payments, money transferred or accepted in the form of cash from third parties, including legal representatives.

The legal representative (trustee) manages the funds in the account of the ward (limited in legal capacity due to bias) with the written prior permission of the guardianship authority to receive earnings, pensions, unemployment benefits, money in the form of financial assistance, prizes awarded for victory in Olympiads, competitions and other events, including sports, accrued interest on the contribution of a person with limited legal capacity.

Who can request an account statement for a limited-capacity depositor at a bank?

An account statement (deposit) of a depositor limited in legal capacity can be issued upon application:

The account owner (depositor) is a citizen with limited legal capacity or his authorized representative;

The depositor's trustee.

The deposit statement is issued free of charge.

Where can I get a certificate of the existence of an account/deposit opened in the name of a minor/incapacitated/limited depositor to present it to the embassy?

To obtain a certificate, contact the bank office that serves individuals.

The certificate will be provided on the day of application. A fee is charged for the certificate in accordance with the bank's tariffs in effect on the day the certificate is provided.

Can a minor, incompetent, or limited in legal capacity citizen bequeath funds in his account (deposit)?

No. According to paragraph 2 of Article 1118 of the Civil Code of the Russian Federation, a will can be written by a citizen who has full legal capacity at the time of its execution.

Who can execute a will/testamentary disposition for a bank deposit or account?

The owner of the deposit or account personally draws up a will/testamentary disposition. The representative cannot do this. To draw up a will/testamentary disposition, the owner of the deposit/account must have full legal capacity.

Testamentary disposition on a nominal account for crediting social payments(hereinafter referred to as a nominal account) is not opened at the bank. In order to dispose of money in a nominal account in the event of death, the beneficiary* of the account must be of age and legal capacity and have executed a will with a notary or other persons authorized to perform this notarial action in accordance with the law.

Who cannot draw up a will/testamentary disposition for a deposit/account:

an adult account holder who has been declared legally incompetent by a court;
minor account holder;
guardian of a minor account holder or guardian of an adult account holder recognized by the court as incompetent (if we are talking about transactions on the account of his ward);
trustee of a minor (14–18 years old) or an account holder with limited legal capacity (if we are talking about transactions on the ward’s account);
account holder's authorized representative;
owner of the nominal account.

The will/testamentary disposition must be personally signed by the testator. If the testator, due to physical disabilities, serious illness or illiteracy, is unable to sign the will with his own hand, it, at his request, can be signed by another citizen in the presence of a notary (hand sign).

Where and how can I formalize a will/testamentary disposition for a deposit/account? How much is it?

The owner of the deposit/account can formalize in writing:

testamentary disposition in any office of the territorial bank of Sberbank where a deposit/account is opened (registration is free);
a will from a notary or other persons authorized in accordance with the law to perform the specified notarial act (the price is determined by the tariffs of notaries and Tax Code RF).

An adult capable beneficiary* of a nominal account can draw up a will in writing from a notary or other persons authorized by law (the price is determined by the tariffs of notaries and the Tax Code of the Russian Federation).

Is it possible to cancel or change a testamentary disposition executed in a bank? How much is it?

Can. The bank does not charge a fee for canceling or changing a testamentary disposition. If the testator wishes to change or cancel a testamentary disposition, he can contact any office of the territorial bank of Sberbank where the deposit/account is opened and submit a personally signed testamentary disposition to this effect.

The testator can also change or cancel a testamentary disposition by registering a will with a notary, which specifically indicates which testamentary disposition or order to cancel a testamentary disposition will be canceled or changed (the price is determined by the tariffs of notaries and the Tax Code of the Russian Federation).

My relative had an account in Sberbank, there were savings books, a deposit or account agreement. What should I do if the account owner or beneficiary* of the nominee dies?

If there is a will / testamentary disposition executed before 03/01/2002, contact the bank office and present, depending on the specific case:

death certificate of the deposit/account owner (for testamentary disposition);
death certificate of the owner of the deposit/account and a notarized will with a notary’s note that the will has not been canceled or amended (for a will);
a certificate of ownership of a share in the common joint property of the spouses, issued to the surviving spouse;
an agreement certified by a notary on the division of money in a deposit/account;
resolution on reimbursement of funeral expenses of the testator;

If the will/testamentary disposition was executed after 03/01/2002 or there are none, contact a notary to open an inheritance case. To do this, contact the notary at the last place of residence of the deceased or at the location of his property, if the testator did not have a place of residence in Russia. The notary will request information from the bank about the availability of deposits/accounts and testamentary dispositions on them, and then draw up documents confirming the rights to the deposit/account with the deceased’s money. Take these documents to the bank:

To receive money from the deposit/account of the deceased, in all cases you must present a passport or other identification document. Death certificate of the owner of the deposit/account or the beneficiary of the nominal account (except for the cases specified above), as well as savings book It is not necessary to present.

In what terms is the spousal or inherited share, payment for a decent funeral from deposits paid?

When contacting a territorial bank of Sberbank at the place where the deposit is kept - on the day of application, in another territorial bank of Sberbank - up to three working days. Take the following documents with you:

*if necessary additional check documents, the payment period can be increased to three working days.

You can reimburse the funeral expenses of the owner of the deposit/account, the beneficiary* of the nominal account until six months have passed from the date of death and before the money is paid to the heir (the surviving spouse according to the certificate of ownership). The amount of compensation is indicated in the notary's resolutions, but cannot exceed 100,000 rubles or the balance of all deposits/accounts of the testator.

Under wills/accounts, funeral expenses are paid to:

to a person from a testamentary disposition, which was executed after 03/01/2002, upon presentation of a death certificate of the owner of the deposit/account and an application for the payment of money from the deposits/accounts for a decent funeral.
to a person from a notarized will, which was executed after 03/01/2002, upon presentation of the will (with a notary’s note that it has not been canceled or amended), a death certificate of the deposit/account owner, a beneficiary on a nominal account and an application for payment of money from deposits/accounts for a decent funeral.
the person indicated in the notary's decree on reimbursement of funeral expenses, upon presentation of this decree and an application for payment of money from deposits/accounts for a decent funeral. Presentation of a death certificate is not required.

For deposits/accounts free from probate, funeral expenses are reimbursed:

the person indicated in the notary's decree on reimbursement of expenses for the testator's funeral, upon presentation of this decree and an application for payment of money from deposits/accounts for a decent funeral. Presentation of a death certificate is not required.

To receive payment for a decent funeral, in all cases you must also present a passport or other identification document. An application for payment for a decent funeral is completed at the bank at the time of applying for payment; the application indicates the account/deposit/card number for transferring money.

Can a trustee or legal representative of an heir, including a parent or guardian of a minor/incapacitated heir, receive an inheritance?

Yes maybe. In addition to documents confirming the heir's rights to receive inherited money, it is necessary to confirm the powers of the trustee using a power of attorney to receive inherited payments. The parent needs to show a birth certificate, and the guardian - a document from the guardianship and trusteeship authority on his appointment. The payment is made to the account of the minor/incapacitated heir.

Does the accrual of interest on the deposit of a deceased investor cease?

No. The death of the depositor does not change the procedure for calculating and accruing interest on the deposit.

Payment of an inherited or spousal share for any amount leads to the recalculation of interest on the deposit in accordance with the conditions early termination and violation of deposit storage conditions. Subsequently, the bank charges interest according to the terms of the deposit.

If the heir does not want to lose interest on the deposit, then he can apply for payment after the end of the deposit period.

Note. Other issues and features of payments from deposits/accounts of a deceased deposit/account owner or beneficiary of a nominal account are regulated by the legislation of the Russian Federation. The bank may request an additional list of documents in accordance with legal requirements and banking rules.

* The beneficiary of a nominal account is an individual (minor / incapacitated / partially capable), recipient of social payments: pensions, alimony, benefits, compensation for health damage and damage incurred in the event of the death of the breadwinner, as well as other payments for his maintenance in accordance with Article 37 of the Civil Code of the Russian Federation.

IN Lately Cases have become more frequent when a person who comes to the bank to collect his deposit is surprised to hear from the institution’s employees that his finances have been automatically extended. What this is and whether it is possible to refuse the procedure, you will find out by reading this article.

What is meant by deposit extension and where are its conditions stated?

This is nothing more than an extension of the term of an expired deposit agreement. As a rule, it is carried out under the same conditions under which the deposit was opened. For those who are interested in making a deposit, it will not hurt to know that it can be automatic or non-automatic. In the first case, the client saves time on visiting the bank, but at the same time he risks a lot, because sometimes banks arbitrarily change the terms of the new agreement. Therefore, you should not blindly rely on the consciousness of the staff, but it is better to go and renew the agreement. In the second case, the client must, a few days before the expiration date of the deposit agreement, personally appear at the bank and sign an additional agreement to the old agreement or re-issue a new one.

As a rule, the conditions for prolongation of a deposit are prescribed in a separate clause of the main agreement, during the execution of which the depositor is required to be informed about the possibility of automatic re-conclusion. In addition, employees must first discuss with the client the conditions under which an extension is possible.

On what terms is the contract extended?

Those who want to be calm about the safety of their deposit need not only to know what prolongation of a deposit means, but also to have at least an approximate idea of the conditions under which it is carried out.

First of all, you need to pay attention to the renewal period of the new contract. It should not exceed that for which the original agreement was signed. Moreover new term begins on the date following the expiration date of the old deposit agreement.

The number of extensions may be unlimited or limited. In the first case, the deposit is reissued until the client decides to withdraw the money. In the second case, the number of possible extensions is specified in a separate paragraph. Moreover, after the completion of the agreed number of extensions, deposit funds are automatically transferred to Employees of a bank that does not practice contract extensions are required to remind the client in advance about the approaching expiration of the deposit term.

Is it possible to refuse to renew the contract?

Many clients, who are well aware of what it is to prolong a deposit at a bank, are interested in whether they have the right to refuse this service. According to current legislation, the investor has the right to interrupt the extension at any time. In order to do this, he simply needs to come to the bank and write a corresponding application for termination of the deposit agreement. However, before you decide to take such a step, you need to think carefully about everything. Indeed, if a deposit is closed before the next closing date, interest will be accrued according to a scheme identical to that accrued on a demand deposit. In other words, the client will receive less than 1% per annum. If the deposit is closed on the expiration date of the next period, then the interest will be received in full.

How deposit storage conditions change

Those who are trying to understand what a deposit extension is need to understand that the instability of the current market situation often forces banks to make changes. Despite the fact that this may not be beneficial to clients, the institution’s staff will not specifically notify depositors about the adjustments made. As a last resort, they can send an email. But it is not a fact that the investor will even notice the message and read it. Therefore, those who have a deposit linked to their phone can be advised to periodically inquire about the status of their account.

What happens if the depositor is unable to come to the bank?

Clients who understand must understand that, under the terms of the contract, management bank account cannot be entrusted to anyone else. If, due to some life circumstances, the depositor cannot come to the bank in a timely manner to renew or terminate the contract, then he must write a power of attorney in advance for someone close to him. This can be done at a notary's office or directly at the bank.

What happens if the depositor does not withdraw the money?

Most modern people are well aware of what prolongation of a deposit is. Sberbank usually provides for the automatic extension of time deposits in the event of the entry into force of some unforeseen circumstances prescribed at the legislative level. But in reality, each specific case must be considered separately. Such insurmountable circumstances include:

natural disasters and disasters;
situations related to the life of society (military actions, epidemics, strikes, revolutions, etc.);
prohibitions imposed by government agencies.

Is the bank obligated to issue a new agreement to the client upon automatic renewal of the deposit?

Sometimes life circumstances do not allow a person who has a good idea of what a deposit extension is to show up on time to collect his money. Often after this, branch managers refuse to give the client a new copy of the agreement, citing the fact that such a service is not provided for the automatic extension of the deposit. How legitimate are such explanations and what will happen to the deposit if the bank unexpectedly goes bankrupt? Most lawyers reassure such clients by assuring them that there is no reason to worry. According to them, the old contract, which provides for the possibility of automatic prolongation, should specify not only the expiration date deposit, but also the day until which the original interest rate is valid.

Of course, there are cases when the bank unilaterally changes the current rate. In order to avoid possible misunderstandings on this matter, experienced lawyers recommend that depositors be sure to demand from the bank that it provide them with a letter, certificate or any other informational documentation in which new data will be indicated.

In case of bankruptcy financial institution the presence of a deposit in it can be proven by presenting an agreement signed with the bank at the time of depositing funds. To confirm that the money has actually been deposited into the account, you can use another document in the established form.

When opening a new deposit in a bank, a person usually does not think about the expiration of the deposit and the need to extend the banking agreement. This is what is usually for credit institutions and write down in their contracts a clause on the possible extension of the document.

If the depositor does not ask for the money to be returned to him from the deposit immediately after the end of the concluded agreement, the validity of the deposit agreement is extended automatically - the deposit is extended. But this condition must be specified in the contract as a separate clause.

When concluding a deposit agreement, the bank informs the depositor about the possibility of concluding an agreement with extension and stipulates the conditions under which it is possible. When prolonging the contract, the term of the contract is extended for the same period or a new term of its validity must be indicated. At the same time, the conditions for calculating interest, the possibility of adding it to the deposit, and the conditions for replenishing the account remain unchanged after the extension.

Most citizens in the country, in order to at least somehow protect their money from inflation, receive additional income from savings, and for more reliable safety of their money, keep their savings in a bank.

What is a cash deposit

In order to better understand and not get confused in complex legal terminology, let’s first remember what a contribution is. A deposit is a savings account into which a bank client deposits a sum of money at a certain percentage, as a result of which the depositor receives investment profit. It is one of the types of deposit.

Basic deposit parameters:

The minimum deposit amount is the amount of money that the depositor needs to deposit in order to be able to open an account with the bank. In this case, the maximum amount is not specified and can be any;
interest rate, based on which the income received by the investor is calculated. The higher the rate, the greater it is;
payment frequency is the frequency with which the bank accrues interest on deposited funds;
the term of the agreement, it must be indicated when registering a fixed-term deposit (for a fixed amount of time). But when registering a “demand deposit” it is not indicated.

The client can withdraw funds at any time after the expiration of his contract. You can receive them at the bank's cash desk in cash or through Personal Area on the Internet, if the deposit was made through it. After settlement, the client’s account is closed and he can immediately open a new deposit.

The depositor can also extend the old contract, but at the same time, he cannot withdraw money. They must remain in the bank in the depositor's old account. If the depositor does not withdraw the money and the agreement is concluded with automatic extension, then the deposit is extended for the same period as before. At the same time, all money with accrued interest and interest is retained in full.

In Russia there are two types:

automatic renewal, the terms of which are contained in the initial agreement when opening a deposit. This procedure is carried out by the bank on the terms and within the period specified in the agreement. The presence of the client when completing such an extension of the bank deposit agreement is not required;
non-automatic extension. It is applied in the case when the investor, after signing the agreement, makes a decision on prolongation. In this case, the depositor is obliged to personally visit the bank before the expiration of the agreement. It is necessary to draw up an additional agreement to the contract or renew a new contract. This method is used very rarely by banks. It is not convenient for the customer and for the bank; it is quite complex and troublesome.

Automatic renewal

Based on the number of extensions stipulated by the terms of the contract, there are:

concluded for an unlimited number of terms. In such cases, the phrase “extension for the same period” is usually indicated in the contract in the prolongation clause;
concluded for a certain specified number of periods and allowed by the contract with extension, then these conditions must be stipulated in the contract.

It is important that during the entire extended period, the interest rate is fixed and should no longer change.

The depositor can stop the extension of the deposit at any time and withdraw the savings. This will require termination of the agreement with the bank.

What can a depositor lose by interrupting the extension on his own initiative?

The investor can interrupt the extension on his own initiative, but it is necessary to take into account possible losses income:

upon closing the deposit on the day of the required next design prolongation, the entire amount is paid with accrued interest on the deposit;
When closing a deposit after a prolongation, interest is accrued at the rate of “demand deposit” for the entire period, starting from the date of the next prolongation until the withdrawal of savings. The longer the period, the greater the loss of income;
if the extended contract is terminated early, the losses will be less if the contract is terminated after the expiration of its term, which provided for more favorable rates. Some banks offer this opportunity when concluding an agreement.

You need to monitor your investments and not particularly rely on informing the bank about the conditions provided for renewal.

Not only the depositor himself, but his authorized representative can extend the deposit. The main thing for the depositor’s representative is the presence of a power of attorney for the right to represent his interests in the bank and dispose a sum of money on this deposit. Usually, a power of attorney can be certified at a bank (free of charge) or at a notary.

If an agreement is concluded with a prolongation, the investor has the right to refuse it. In fact, it may not be beneficial for the depositor at the time of completion of his contract with the bank.

Please note that a deposit with a rollover and not renewed at the client’s request is most profitable to transfer to a new savings book or a new account on the day of rollover. Otherwise, the deposit will be considered extended.

To open a new deposit, you need to visit the bank and conclude a new agreement. You will need to present a passport or use another document confirming your identity. Many credit institutions now provide the opportunity to open bank deposit online through Internet banking.

Prolongation conditions

In most cases, the conditions under which the deposit was originally opened are preserved. However, it is necessary to take into account possible changes certain conditions, both specified in the contract, and possible changes in the external financial situation or various unforeseen circumstances. Sometimes they turn out to be not very profitable for the investor or even very negative, for example, an unexpected revocation of a banking license or economic crisis in the country, the personal circumstances of the depositor.

Basic conditions:

deposit term, the contract is usually extended for the period for which the contract was originally concluded. In some cases, the period may differ for extensions and is specified in the contract. From the next day, namely from the next calendar date after the last date specified in the contract, a new period begins to count with the same or new conditions;
the deposit amount, which usually increases over the main term of the agreement, by the amount of accrued interest. An automatic increase in the deposit amount occurs only if the agreement provides for capitalization by this contribution, that is, the bank automatically adds interest to the principal amount you previously paid. In the new period, interest is added according to the same pattern. Please note that the deposit amount does not change if the capitalization of interest is not provided for in the agreement. Accrued interest is transferred to the client’s card or current account;
interest rate, usually the deposit is extended not at the original rate, but at the rate in force at the time of extension;
interest on the deposit account for the duration of the agreement on placing your money in the deposit, according to standard banking conditions, are calculated taking into account capitalized interest for the previous period. That is, the accrual occurs on the amount that includes the initial deposit, plus the interest that has accrued on it. But such a scheme only works if the depositor does not withdraw his deposit, in whole or even part of the money, when the money remains untouched in the bank. Interest accrual is the most important condition prolongation. It may turn out to be unprofitable for the investor. Sometimes the extension of the term is carried out at the rate of a standard “demand deposit”, with the most low interest rates. Typically, during one extended rollover period, the rate does not change by the bank. It corresponds to the current one at the time of renewal.

It is in the interests of the depositor to monitor the bank’s offers and choose the most favorable conditions.

the number of possible extensions may be initially specified in the contract or not specified, and therefore unlimited. Unlimited prolongation is any number of extensions of a given initial deposit, on the same conditions and for the same period, and it is valid until the client comes and takes the savings from the bank. The conditions and number of extensions are usually at least somehow prescribed in banking agreement. After all extensions have been completed, the money is usually automatically transferred to the “demand deposit” terms, and the deposit account receives the status of a current bank account.

Some banks do not provide for the possibility of prolonging the agreement; they immediately transfer the depositor’s funds to a regular current account or, without changing the status of the account, simply designate it as a “demand deposit” with minimal interest, immediately after the end of the agreement without notifying the client in any way.

are indicated in the deposit agreement and certain additional conditions, for example, the frequency of accrual of bank interest, the detailed procedure for their accrual is prescribed, the terms and procedure for paying interest accrued by that time are specified, the possibility and procedure for replenishing the account is indicated;
Typically, the extension automatically occurs on the next calendar date, that is, after the expiration of the main agreement for this deposit.

Please note that you should not hope for the bank to notify you that the expiration date of the agreement on your deposit is approaching, it is simply not very profitable for them, and it is also an extra hassle. Banks sometimes stop accepting certain types of deposits and transfer all unclosed deposits to the “demand deposit” category. On the eve of a possible extension, you need to check the term of the deposit and ask whether it has changed initial conditions and what is current rate according to the current deposit.

For information, you can call or visit the bank, or look at the bank’s official website.

The main advantages include:

obvious convenience. The depositor may simply not remember when his deposit agreement ends, especially if there are several of them in different banks. He does not need to visit the bank or collect new documents. The deposit period will automatically be extended if the client does not yet need the money and does not withdraw it from the bank;
benefit. On the day the contract ends term deposit, it will be technically and automatically extended. At the same time, not a single day will be lost for the calculation of client interest on a bank deposit.

The main disadvantages include:

possibility of significant downward change interest rate during prolongation (however, it can sometimes increase). The deposit can be extended on conditions that are not favorable to the client. At the current moment, the rate may be significantly lower than when concluding the contract.

To protect yourself from the risk of a decrease in your income, you need to ask the bank in advance what the conditions are for this moment act on deposit of this client. If the conditions do not suit the investor, terminate the contract.

when a client withdraws money from a fixed-term bank deposit interest is lost, that is, all additional income. When the contract is renewed again and subsequently terminated, interest for the second term is usually not paid in full. Interest accrued for the first term must be paid in full, regardless of whether capitalization is provided for or not.

When signing a contract, remember:

it is necessary to carefully read the contract and study all the terms of the document, including those relating to its extension, i.e. prolongation. Carefully monitor the number of remaining extensions (if their number is indicated), do not lose sight of the expiration dates of the deposit and documents;
convert Special attention and on a deposit with an unlimited number of extension options. This deposit may be withdrawn from the bank's line. In this case, the money will go to the “demand deposit” current account.
termination of the contract after the extension is regarded as early and usually the minimum interest is accrued, at the rate of the demand deposit;
when a certain number of automatic extensions of terms is indicated in the agreement, then the agreement for this deposit is already extended on the terms of a “demand deposit”;
if, on the expiration date of the agreement, the bank has already excluded the client’s deposit from the offer, then in this case the bank must notify its depositor of the need to renew the agreement. Often banks send an SMS message or letter. If the depositor was supposed to come to the bank in person and did not come, then his deposit agreement is reissued as a “demand deposit”. The client's written consent is not required;
current profitable offer at the moment may be limited in time, have a promotional or seasonal nature - the promotion has ended and is not expected to be automatically renewed. When placing your money in such cases and on such deposits, it is important to pay attention to their expiration dates. After the expiration of the term, the offer is closed, and often no interest is accrued. The client loses his profit. It is necessary to clarify the terms of the extension as of the expiration date of your deposit;
according to current rules, in general, banks are required to notify their depositors about the approaching expiration of the contract (SMS message, on email, by telephone, by mail). In practice, the rule is observed quite rarely. Reasons: the message is not beneficial to the bank, the bank a large number of depositors, unavailability of the client (change of telephone number, place of residence) or the depositor himself missed the message. The depositor should not rely on the bank's actions;
Before any closure of your deposit, it is advisable to notify the bank managers of your desire. To receive cash you must have the required amount at the bank's cash desk at the time of the visit. If the deposit agreement has already been extended if it is late, the bank usually offers to personally write a handwritten application to terminate the agreement on your initiative, i.e. about termination of your contract;
if the contract has expired, extension is not provided for in the contract, and the client had to come in person to the bank’s office and did not come to renew the deposit, then the yield will be 0.01% (applied to “demand deposits”);
extension of the agreement by the bank may be prohibited. Most often, this is possible when concluding preferential or seasonal, promotional deposits with higher rates.

Conclusion

Typically, extension occurs in automatic mode, if the depositor client did not demand the return of his money, he did not submit a corresponding written application to receive the money within the time period established by the agreement. Such extension of the deposit significantly saves time for both the depositor and the bank, and does not require re-issuance of the agreement.

By observing the terms of the agreement with the bank and following the advice of experts, you can take advantage of all the benefits of a deposit with extension. In this case, the bank client’s income will not decrease due to possible lost profits, that is, loss of part of the interest or extension of the deposit agreement on unfavorable terms.

Renewal is beneficial in many cases and the number of contracts with automatic renewal is constantly increasing. More and more investors feel the benefits of such deposits.