The National Bank of Ukraine changed the inflation forecast, the Ministry of Finance launched new issues of government securities for the population within the framework of the Program Treasury May-June 2023. People with a low appetite for risk usually pay attention to bank deposits and government securities (demand for the latter is quite high, according to the authorities).
* This text is not an investment recommendation.
Suppose a person has 2,000 lei and wants to protect himself from inflation. This is predicted by the BNR at the end of the second quarter of 2024 at the level of 5.2%. Thus, the investment should bring at least 104 lei.
*The following examples refer to a deposit amount of 2,000 lei. Don’t forget that if you have more money and earn more than 6 minimum wages per year, you will also have to pay CASS in addition to income tax (ie file a single return).
*Bank offers have been removed from the platforms Finzoom.roand Conso.ro
Investments for 1 year: treasury and deposits
The best interest rates on bank deposits are 7-8.45%. After paying commissions and income tax, the profit is 64 – 152 lei.
As for Tezaur, the interest rate is 6.5%, which means 130 lei.
It should be noted that no income tax is paid on government bonds.
Do not touch the money for 3 years
As for the 3-year offers, bank interest rates range from 7.25 to 8.5% per annum, giving a real profit of 134 to 459 lei. If you capitalize the interest, it is approximately 350-480 lei.
In Tezaur, the state offers 7.5% per annum, which means a total profit of 450 lei. As for interest capitalization, it is still unknown what interest the state will offer in the coming years.
When you’re looking at banks, it’s not just the high interest rates that should catch your attention, but the fees along with the income tax. In addition, you should check whether the percentage depends on such a package: bring us your salary and you will receive X percentage.
The new BNR forecast shows that at the end of the year we may have inflation of 7.1% (+/-1.4 pp) and at the end of 2024: 4.2% (+/- 2.4%).
Photo source: Dreamstime.com
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.