News of the Bank

Chairman of Supervisory Board Stepan Charnovetskyi says how to make money working

For modern Ukrainians it is obvious that money should be kept not at home, but on the contrary — they should work. One has just to resolve the question: what is it more profitable to invest money in — for deposit, in gold, in shares, in investment fund or real estate?

Facing choice problem, prospect client is eager to find out golden mean between two main indexes — profit from means allocation and reliability of their preservation.

Stepan Chernovetskyi, Chairman of Supervisory Board of JSCB «PRAVEX-BANK», commenting this situation, indicates deposit advantages: «From all enumerated variants of means investment deposit is the less risk as You get a guaranteed interests, fixed by agreement that allows not to depend on prices for gold and real estate or on share price change. So, despite price growth for gold, there is no guarantee such growth will keep on. Approximately the same situation is with real estate market: some experts forecast further price growth, some — that prices will fall down and others — that prices will stay at current level. It is still risk to invest means into shares due to domestic stock market underdevelopment.

Besides, unlike, for example, west-european countries where deposit rates are at low level and allow just to preserve means from inflation, in Ukraine bank deposit rates are still kept at high level, allowing depositors to get real income.

Deposit also has one more advantage — unlike means investment into gold and real estate, where income acquisition takes place one time at the moment of resource sale, You can register deposit with monthly interest payoff that will allow to have regular and stable income».

As for the question of all depositors — «What currency is it better to deposit money in?» Mr. Chernovetskyi noted that it is traditional for Ukrainians to deposit money mainly in US dollars. And it is no coincidence — it is US dollar that is the most widely used currency in the world, it is US dollar that is used for major part of settlements in the world business and it is US dollar which NBU preserves majority of its money reserves in.

Thus, depositing money in currency, which enjoys confidence,  modern man has a possibility to acquire constant guaranteed income in the way of interests on deposit which he can use on his own discretion — from actual needs till money accumulation for very important and expensive purchases».

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