Deposit accounts : These are restricted deposits agree to leave their money in the bank for a specific time period. If you observe a period of time deposits of banks, then take a specific interest rate. We can get our money before, but then there is a reduction in interest charged by the closed funds. Usually, the earlier "break" the deferred contract our bigger the financial loss. These savings accounts have a minimum deposit that can start from 3,000 euros but usually range in sizes of tens of thousands of euros. The duration of restricted deposits begins a week, usually three or six forward and reaches one or two years.
There are several variations futures accounts:
- Payment of interest at the start of futures. This is the best lodging and gives a margin for reinvestment in advance by multiplying the final profit of up to 1.03%.
- Monthly yield. We take the interest each month can be used as extra income or to xanaependysoume.
- Performance of interest in end of term deposits. Those are classics deposit accounts.
- With deferred fixed rate throughout the duration of the deposit.
- A staggered rate, which varies in certain periods of time, following default values. In this case we need to know the average rate for the entire period of time deposit.
- Account deposit variable rate linked to Euribor and the ECB.
Deposit accounts as a warning: In this part of the deposit acts as an ordinary deposit account. Differ at the highest rate offered and the fact that to take place we need to have warnings (written or even by telephone) a week ago, a month, etc., depending on the kind of time we have agreed. If you need emergency commitment, there is this possibility. But then we lose the preferential interest rate gives an account warning.
Current accounts: Traditional business and related companies and may be accompanied by a check book. Theoretically more traffic than ordinary deposit accounts and generally lower interest rate. Today, however, are given to individuals and sometimes have a higher interest rate than ordinary, such as G Neath the Aspis Bank. Sometimes pay bills considered by the bank as savings and not sight. The separation of sight and savings accounts very much as the bank is one way to know what bills are more movement (sight) and what less (tameftiriou)
Accounts Payroll : The deposit accounts of those who filed wage is an employee. Typically offer increased rates compared with simple bank deposit rates, but only the first 1000-5000 euro.
Guarantee deposit : A guarantee given to depositors if a bank fails to pay back the deposits. On Greek banks' deposits guaranteed by the Deposit Guarantee Fund up to 100,000 per depositor in each bank. Some foreign banks (eg Citibank), give such a guarantee (eg 50,000 pounds) from respective funds and some banks outside the European Union participate to the Guarantee Fund in Greece.
Interest rates on banks: The gross rate on an annual basis and include tax of 10%. Eg if the deposit rate is 6%, real interest rate will get the deposit is 5.40%.
Duration Year: Most banks in Greece established calculate rates based on 360 days. The same goes for bonds. There are some exceptions such as Citibank and Milennium using the year of 365 days. When it comes to filing suits us 360 days a year for a loan year of 365 days. If, for example, make a deposit rate of 7% based on a 360 day rate days are 7/360 = 0.0194%. That year, in return we will be 0.0194% * 365 = 7.10%.
ECB Interest Rate: Interest European Central Bank ( ECB refinancing rate ). This is the base rate of the euro on the basis of which is shaped, directly or indirectly, different rates of banks.
Euribor rate : Refers to specific time periods (one week a month, two months, etc.) and expresses the average interest rate at which borrowing and lending among banks for this period. With the Euribor, often identifies a bank interest rates on term deposits and mortgages.
Bond: It is a loan agreement with a fixed term and interest rate. When you buy a bond worth 1000 euros, essentially lending money to the issuer of the bond. An issuer is required each year to give us the interest (coupon) and also promised to end the bond to give us 1000 euro. Is it possible to sell to someone the bond we have in our possession prior to its expiration, but the price varies (depending on supply and demand), so there is a risk that we lost from our capital (by selling at a price lower than that bought). By purchasing a bond paying a commission fee. There is risk in investing in the event the issuer fails to repay his debt.
Repos: Repurchase agreement brevity translated as repurchase agreements. We can buy shares in repos but typically buy government securities (bonds). The difference with the direct purchase of bonds is that they sell the securities before maturity shown under the repurchase date we set. The period we reserve the repos are often smaller than one day (overnight repo) by one month, but it is rare to reach two years. As investments have risk, if the seller fails to repurchase the securities.
SWIFT Code or BIC: usually used when transferring money to and from abroad: Aspis ASPBGRA, Rural ABGRGRAA, Alpha CRBAGRAA, Attica ATTIGRAA, Cyprus BCYPGRAA, Citibank CITIGRAA, Chania STXAGRA1, Ioannina STIOGR21, Peloponnese STKPGRA1, Eurobank EFGBGRAA, Commercial EMPOGRAA, FBB FBBGGRAA, General GHBAGRAA, Greek HEBAGRAA, HSBC MIDLGRAA, Marfin MARFGRAA, National ETHNGRAA, Pan PNELGRAA, Piraeus PIRBGRAA, Postal Savings GPSBGRAA, Probank PRNKGRAA, Proton ARVEGRAA.
Treasury Bills Greek government
It is a way to borrow the state for a short period from a quarter to a year. Treasury bills can purchase and retail investors.
They have the same risk with the bonds and bankrupt if the state would not pay in full and can post-dated.
The bill normally paid to an end, but need the possibility to be sold on the secondary market at current price and losing any tax-free.
When buying a promissory note example 10,000 euros less money and we end we will get 10,000 euros which included interest on us.
If the duration is one year and the rate of 4.85%, then the current value of the bill are 9537.44. Adding the interest 9537.44 * 4.85% = 462.56 to reach 10,000. Furthermore, we calculate the commission of the bank (0.15%) of the nominal value (10.000), ie 15 euros. So the fund paying 9537.44 9552.44 + 15 = EUR 447.56 million and earn a net yield 4.69%.
If we compare the net rate of gross fixed deposit rate we must calculate how much would the interest rate if you pay tax of 10%, the gross rate would be 4.69% / 0.9 = 5.21%.
When we buy the note on the secondary market price fluctuates. If you pay more than 9552 then logically yield falls below.
θα ηθελα να μαθω αν το εισοδημα σε μια καταθεση 10.000e με επιτοκιο 5% ειναι το μηνα 500 χωρις τον φορο 10% και ποσο θα ειναι το μηνιαιο εισοδημα με τον φορο.ευχαριστω
I would like to know if interest rates, bond yields are not larger than the deposit rates, and second, whether the risk of failure of the state affects the interest rate deposits and other debt securities and thirdly, the fact that the European Central bank accepts securities as collateral Greek government, Greek banks to grant liquidity because he throws the spreads? Thanks for your time.