Banking law. Bank deposit (most important)

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Banking law. Bank deposit (most important)

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39. Bank deposit (deposit)

Under a bank deposit (deposit) agreement, one party (credit institution), which has accepted the amount of money (deposit) received from the other party (depositor) or received for it, undertakes to return the deposit amount and pay interest on it on the terms and in the manner prescribed by the agreement. A party to the agreement is a credit institution (bank). The right to attract funds in deposits is held by credit institutions that have the appropriate permit (license of the Central Bank of the Russian Federation) issued in accordance with the procedure established in accordance with the law and the depositor, which is entitled to act as any legal entity or individual.

Deposits can be made both in cash and non-cash forms.

Bank deposit agreement:

1) real, since for its conclusion it is necessary to transfer the deposit to the bank;

2) unilaterally binding, since the depositor acquires the right to claim the bank for the return of the deposit amount and interest on it, and at the same time he does not have any obligations to the bank;

3) is recognized as public if the investor under the agreement is an individual. A credit institution is not entitled to refuse a citizen to conclude a bank deposit agreement, and is also not entitled to establish unequal terms of the agreement for different depositors or give preference to one depositor over another;

4) is in writing. Failure to comply with the written form of the contract, such an agreement is considered void. The written form is considered to be complied with if the deposit is certified by a savings book, a savings or deposit certificate or another document issued by the bank to the depositor that meets the requirements provided for such documents by the law, the banking rules established in accordance with it and the customs of business turnover applied in banking practice.

There are various classifications of types of bank deposits. The most common types of deposits are:

1) demand deposit (on the terms of issuing a deposit on demand);

2) term deposit (on the terms of return of the deposit after the expiry of the term specified in the agreement).

On the amount of the deposit, the credit institution pays the depositor interest, the amount of which is determined by the bank deposit agreement, which can also be changed by the credit institution for demand deposits, unless otherwise provided in the bank deposit agreement itself. If the bank reduces the interest rate, the new interest rate is applied to deposits made before the notification of the interest reduction to depositors, after a month from the moment of the corresponding notification, unless otherwise provided by the agreement. Accrued from the day following the day of receipt of the invested amount in the bank, until the day preceding its return to the depositor or its debiting from the depositor's account for other reasons; unless otherwise provided by the bank deposit agreement, are paid to the depositor at his request after the expiration of each quarter separately from the deposit amount, and the interest unclaimed within this period increases the deposit amount on which interest is accrued.

When the deposit is returned, all interest accrued up to that moment is paid.

Liability under a bank deposit agreement occurs in the following cases:

1) non-fulfillment of the obligations stipulated by law or the contract to ensure the return of the deposit; loss of security for the return of the deposit or deterioration of its conditions;

2) accepting a deposit from citizens by an unauthorized person or in violation of the legislation on deposits;

3) non-return of the deposit, its illegal deduction or non-payment of interest.

Author: Belousov D.S.

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