Financial institutions, in particular banks, on the basis of a license, have the right to attract funds for deposits from individuals and legal entities. A bank deposit agreement aims to establish a legal relationship between the parties, each of whom wishes to make a profit.

This document should be distinguished from others on the basis of which finance can be raised. According to the deposit agreement, one party gives the finances, and the other accepts, undertakes to save and return with interest in the prescribed manner.

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Different deposits differ from each other; all the nuances of saving and returning funds received are stipulated in agreements governing the relationship between the parties. The main difference between the contract for individuals is the presence of a clause to ensure the return of the deposit in the event of an insured event due to the fact that it is subject to compulsory insurance at the expense of the Federal Fund.

The return of the deposit to a legal entity is also stipulated in the agreement, but the depositor is informed about how the return will be carried out.

What is this

A bank deposit agreement is an official document on the basis of which the depositor places funds in the account of a credit institution that come from him personally or in his name from a third party. The document is issued for a certain period, after which the funds are returned.

The due remuneration may, according to the terms of the contract, be returned at the end of the term or throughout the entire period. The amount placed on the account is the subject of the agreement. The actual content of the legal document can be characterized as a unilateral binding agreement.

The depositor has the right to claim, and the institution undertakes to return the finances with remuneration, which begins to accrue from the moment the transaction is concluded and ends on the day preceding the end of the deposit.

Funds can be located in national or foreign currency, as well as in several.

Articles of the Civil Code of the Russian Federation from 834 to 844 regulate the content of bank deposit agreements

Main provisions

Each deposit is placed under certain conditions. To fulfill them, the document displays the rights and obligations of the parties, depending on the type of deposit placed.

Legal basis

The legal nature of the agreement is the provision of financial services to the depositor-consumer by the executing bank, therefore the document is subject to the Consumer Protection Law (1996).

The agreement establishes relations on the basis of regulatory documents:

• Decree No. 7 (1994–1995), dealing with consumer protection in court;
• Order of the Civil Code of the Russian Federation No. 160 (1998), which clarifies issues related to the Law on the Protection of Consumer Rights;
• Federal Law No. 2, which considers amendments and additions to the Law on Consumer Rights and the Civil Code in relation to administrative offenses;
• , where it is stated that the standard deposit agreement is public, so the bank cannot refuse anyone who wants to make a deposit;
• , which states that the document can be considered as a contract of adhesion of a public nature with the conditions set out in a standard form;
• Constitutional Court Resolution No. 4-P (1999), which states that investors cannot influence the content of the contract, therefore they are the weaker party and must be protected;
• , considering the possibility of early return of funds to a legal entity engaged in entrepreneurial activities, and the impossibility of returning funds if the organization is non-profit.

A natural accompaniment of the concluded deposit agreement is the account to which the depositor transfers funds. imposes restrictions on legal entities, indicating that they do not have the right to carry out settlement transactions from the deposit.

Species Variations

Deposit agreements can be considered depending on the date of termination:

Poste restante

Based on such documents, the entire amount or part of it, together with savings, can be returned to the depositor upon first demand, i.e. the term of the agreement is not limited to any date.

They have the right to be terminated only within a predetermined period. But the client has the opportunity to withdraw the time deposit ahead of time, in this case the accumulative interest is reduced and recalculated. But legal entities do not have the right to terminate the contract early. At the same time, fixed-term contracts are divided into types: conditional, when early termination can occur on the basis of pre-agreed situations related to life issues; targeted, these include, for example, children’s deposits up to a certain age, 16–18 years old, or other.

There are also contracts:

• with a fixed or floating interest rate;
• with the possibility of changing the initial amount (replenishment/partial withdrawal of funds) or without it.

An option for drawing up contracts can be in the form of:

• a written document certified by the parties, when the first copy is given to the client, and the second copy remains in the bank;
• savings books, when transactions are possible only after presentation by the depositor;
• certificate of deposit.

It is a security and can be bearer or registered. It indicates the size of the investment and the rights of the investor, validity period, and accumulative rate. Typically, a cash certificate is issued for 1 year legal entities and 3 individuals

Basic conditions

The contract specifies the necessary conditions for placing and saving funds, the procedure for returning and much more.

For example, the most significant are:

• currency in which the deposit was made;
• deposit amount;
• start and end dates of the contract;
• the interest rate at which the client will be rewarded for the bank’s use of his money;
• procedure for payment of remuneration;
• how the depositor’s funds will be returned, through the bank’s cash desk, to his account or to a plastic card;
• personal data of the depositor, according to the presented passport;
• in case of opening a deposit for a third party, his data.

Additional points include:

• options for replenishing the deposit and partial withdrawal;
• the size of the minimum balance;
• conditions for early termination if the contract is fixed-term;
• how will the return of funds be ensured in the event of an insured event;
• the client has an identification document.

The contract must indicate how interest will be paid, every month, quarter, year or at the end of the term. According to some agreements, it can be carried out when interest accrued every month is added to the main deposit, thereby increasing it.

Next time the accrual will be made for an increased amount. In this case, the deposit and interest are accumulated in one account; when simple interest is calculated, they are stored in a separate account. If a minimum balance is provided, then partial withdrawals can be made, but only up to this threshold, then interest may be charged on the deposit.

The text of the agreement primarily depends on the type of deposit, but the common data for all legal documents governing the relations of the parties is identification.

The form of a standard deposit agreement provides for the following main points:

Subject of the agreement	This includes the amount of investment, the amount of accrual interest, the procedure for accepting and returning funds, accruing and transferring income.
Responsibilities of a credit institution	accept and store the depositor’s finances; formalize the contractual relationship properly, issue a document confirming the amount of investment; within the limits of the deposit amount, follow the instructions of the depositor for non-cash payments; return the deposit with accumulated interest within the period specified in the agreement or ahead of schedule.
Client rights	he can personally or through an authorized person dispose of the deposit; receive profit on the deposit in the form of accumulative interest or anything else provided for in the agreement; make non-cash payments; write a will for the entire amount of the deposit or a separate part of it, with or without interest.
Client Responsibilities	transfers funds to the bank in the amount specified in the agreement and within the established period; notifies the bank about the extension of the agreement, if this is provided for in one of the clauses of the legal document, within the prescribed period; warns the bank within the period stipulated by the agreement about the desire to terminate the deposit early.
Resolving controversial issues	if the bank fails to return the deposit and accrued interest to the depositor in a timely manner, it is obliged to pay a penalty, the amount and procedure for calculation of which is provided for in the agreement; the injured party, as a result of the other party’s failure to fulfill its obligations, has the right to claim compensation for damage, material and moral; disputes that arise are resolved in the manner established by the laws of the Russian Federation; issues that cannot be resolved within the framework of the agreement, but arise from it, are resolved in accordance with the legislation of the Russian Federation; the bank can make changes to the agreement, they will have legal force if each party agrees to this and signs it; The bank must notify the depositor in advance of changes and additions to the agreement, but it may not do this if the obligation is not provided for by the terms of the legal document.
Possibility of termination	The contract may be terminated: upon expiration of its validity period; by agreement of the parties; judicially.

The issue of reducing the interest rate is subject to special consideration. Some legislative acts state that a credit institution unilaterally does not have the right to do this, especially if it is a fixed-term agreement on a bank deposit in, for example. According to this, it is prohibited to include in the contract a clause on reducing the rate in case of inflation or others.

Details of drawing up deposit agreements with the bank

Important points that relate to the preparation of deposit agreements must be provided for at the stage of concluding and terminating documents. The main role belongs to the parties involved in legal relations.

How to conclude

When concluding an agreement, the bank opens a deposit account for the client, a legal document regulating the relationship of the parties is signed by the depositor and the bank represented by an authorized employee.

The conclusion of an agreement consists of the following stages:

• study by potential investors of tariffs in relation to specific programs;
• informing the depositor's employee about his rights and current legislation;
• signing an agreement on the terms chosen by the investor from those offered;
• depositing finances by the client through the cash desk or by transferring from account to account;
• transfer to the client of the first copy of the agreement, if the conclusion of the relationship is in writing, in other cases, a passbook or certificate.

Recently, many banks have been offering potential clients to make a deposit via Internet banking, without having to visit a branch.

To make an online deposit, the depositor just needs to connect to Internet banking, fill in the necessary information about himself and transfer funds to the bank account from his card

Parties

The Banking Law states that a bank needs a license to attract funds from depositors, but it can obtain it only by observing certain conditions. They should talk about its stability and ability to fulfill the requirements established by the Bank of Russia.

The bank must not have debts to the budget, be an organized structure, and have been operating for 2 years and others. The law does not allow non-bank credit institutions to attract funds from depositors.

A sample standard agreement that the parties enter into may contain the possibility of replacing one of the parties. This occurs on the basis of assignment of a claim or when transferring a debt, when the new debtor is also a bank.

If offenses arise between a commercial bank and a depositor, the rules of Part 1 of the Civil Code of the Russian Federation will be applied to them.

For example, if a deposit from an individual is accepted by an institution that does not have the right to do so, or errors are made during registration, the citizen has the right to demand the immediate return of the deposit with accrued interest and additional compensation for losses caused. If funds are accepted from a legal entity with the same violations, the concluded agreement will be considered invalid.

The law allows a third party to deposit funds into the depositor's account. In this case, the third party will not be able, if he wants, to terminate the deposit agreement without the consent of the depositor.

It is also allowed to open a deposit for a third party, after which it will acquire the rights of a depositor. In this case, the details of the citizen or the name of the legal entity in whose favor the contribution was made must be indicated.

If the data is missing, the transaction will be considered void. In this case, the agreement, by agreement between the bank and the person who contributed the finance, may be prematurely terminated or amended. But this can be done until the recipient of the deposit exercises his rights.

Termination

When a deposit agreement whose term has expired is terminated, the depositor has the right to visit a bank branch on the day the document was closed or on the next closest day.

At the request of the client, the contract can be extended under the same conditions, if this is agreed upon in advance by the document, then the presence of the investor is not necessary.

The client can also terminate the contract at any time, regardless of whether it is urgent or on demand. Moreover, it is not necessary to inform the bank about the reasons. If the contract is fixed-term, the interest will be recalculated and the deposit along with savings will be returned to the client.

To terminate the contract early, you must:

• come to the branch in person, having your passport and contract in hand;
• fill out an application for withdrawal of funds;
• receive the deposit with interest.

Responsibility

The conclusion of a deposit agreement implies the onset of liability on the part of the party that accepted the funds.

Therefore, the bank, based on the agreement, is obliged to:

• insure the client's deposit, fulfilling the requirements of the law on;
• pay interest;
• return the money received along with savings at the first request of the investor.

The bank may violate its obligations, for which appropriate sanctions will be applied to it in the form of a penalty and others, if:

• fails to ensure the return of the deposit on time (fails to insure the deposit);
• will lose the ability to secure;
• commits violations when concluding a contract;
• will not pay interest and will not return the deposit on time.

In some cases, the bank may lose the opportunity to return funds to the depositor if it is declared insolvent. Then he is declared bankrupt. As a result of liquidation, its assets are sold and funds are returned to investors and other creditors.

BANK DEPOSIT AGREEMENT Bank deposit agreement N Moscow " ____ " _____ 20______ Commercial bank ___________________, hereinafter referred to as the "Bank", represented by ________________ (position, full name), acting on the basis of the Charter, and __________ (full name of the depositor) , hereinafter referred to as “Depositor”, passport series ___________ N ________, date of issue _________, issued ______________, registered at the address ____________________, tel. _________, entered into an agreement on the following: 1. Subject of the agreement 1. 1. The depositor transfers to the bank _____________ rubles (in numbers and in words, hereinafter “ts-p”) on the day of concluding this agreement. 4. Responsibilities of the depositor 4.1. Transfer money to the Bank in the amount of ___________ rubles (c-p) " _________ " _____________ 20___________ 4.2. (option) Notify the bank about the extension of the period provided for in clause 1.2 no later than ________ calendar days before its expiration and, within the next five days from the date of notification, draw up an addition to the agreement on its extension.

in a person acting on the basis, hereinafter referred to as " Bank", on the one hand, and in the person acting on the basis of, hereinafter referred to as " Investor", on the other hand, hereinafter referred to as " Parties", have entered into this agreement, hereinafter referred to as the "Agreement", as follows:

1. The Subject of the Agreement

1.1. The Depositor undertakes to transfer to the Bank temporarily available funds in the amount for a period of up to ""

1.2. The specified amount is transferred by the Depositor with his payment order, taking into account the necessary document flow between banks no later than ""
The actual date of transfer of funds should be understood as the date of crediting funds to deposit account N in the Bank's Operations Department.

1.3. The Bank undertakes to store the received funds in a deposit account and return them to the depositor no later than calendar days after the period specified in clause 1.1 of this agreement. The return of amounts accepted for storage is ensured by funds from the authorized and other funds of the Bank.
The actual date of return of the deposit should be understood as the date of crediting of funds to the account of Depositor N in.

2. Deposit fee

2.1. For using the deposit, the Bank pays a fee in the amount of % per annum.
If the deposit is not returned on time, that is, after the period determined taking into account clause 1.3. of this agreement, the deposit fee is paid in the amount of .

2.2. Interest on the deposit is calculated and transferred by the Bank on a monthly basis no later than the day of the month following the reporting month. The actual date of transfer of the deposit fee should be understood as the date of crediting of funds to the depositor's current account.
The period for calculating interest begins from the date the Depositor's funds are credited to the deposit account in the Bank's Operations Department and ends on the date the funds are written off from this account.

2.3. If the deposit payment is not received on time, in accordance with clause 2.2 of this agreement, the interest due from the Bank is considered as untimely paid. For each day of late payment, the Bank pays the Depositor a penalty in the amount of % of the amount of the overdue interest payment.

3. Deposit conditions

3.1. Within the term of the deposit, the Bank has the right to dispose of funds at its own discretion, including by using them as credit resources.

3.2. If the Depositor has a temporary need for funds within the term of the deposit, he has the right to receive a loan within the amount of the deposit on more favorable terms compared to other borrowers.

3.3. Other conditions

4. Early collection and return of the deposit

4.1. The depositor has the right to early undisputed collection and return of the deposit in the following cases:
- untimely transfer by the Bank of the deposit fee;
- declaring the Bank insolvent in accordance with the generally established procedure.
In these cases, the Bank, upon the first request of the Depositor, expressed in writing, returns the deposit amount within three working days from the date of receipt of this request.
In all other cases, early return of the deposit at the initiative of the Depositor is carried out by the Bank, subject to written notification to the Bank calendar days in advance. In this case, the Bank has the right to withhold a commission in the amount of % of the amount of interest paid in case of early return of the deposit.

4.2. The Bank has the right to return the deposit early on its own initiative if it notifies the Depositor of its decision in writing calendar days in advance. In this case, the Bank pays the Depositor interest for the actual period of use of the deposit.

5. Dispute resolution

5.1. Disagreements arising in the process of fulfilling the terms of this agreement are preliminarily considered by the parties in order to develop a mutually acceptable solution with the preparation of a protocol of consideration.

5.2. If it is impossible to resolve disputes and disagreements through a bilateral agreement, they are referred to the bodies of an arbitration court or court for consideration.

6. Changing the terms of the agreement

6.1. The agreement may be amended by mutual agreement of the parties. All changes and additions to this agreement will be valid if they are made in writing and signed by authorized representatives on both sides.

7. Duration of the contract

7.1. The validity period of the agreement begins from the date of its signing and ends on the date after the full return of the deposit, interest due on it, as well as commissions and penalties arising from the terms of the agreement.

7.2. The Agreement is drawn up in two copies, each of equal force.

8. DETAILS AND SIGNATURES OF THE PARTIES

Bank

• Legal address:
• Mailing address:
• Phone fax:
• INN/KPP:
• Signature:

Investor

• Legal address:
• Mailing address:
• Phone fax:
• INN/KPP:
• Signature: