Co-founder of Affari Miei
9 Maggio 2024
Are you looking for detailed information on the Conto Yes?
Do you want to know how much it makes, how much it costs and how it is activated?
Today we will see together all the characteristics of this deposit account, starting from the interest rates, passing through the costs, up to evaluating the pros and cons of this investment. It is a’offer interesting from some points of view, which deserves further investigation.
All we have to do is get started: I will provide you with the necessary elements so that you can make an intelligent evaluation of the product and choose based on your investment needs.
Let’s start!
This article talks about:
Solution Bank: a presentation
Solution Bank it is a traditional bank because it offers customers traditional banking products, such as asset management, the possibility of obtaining loans and mortgages and also the opportunity to invest.
On the other hand, they are also a corporate and investment bank, as they also offer local and national companies credit support products, granted in complex and restructuring situations.
They aim to be the bank for the customer and his business, always ready to intervene in difficult situations.
The bank was established in 2003 and is based in Forlì, so its objective was to be a point of reference in the financial world in the Emilia-Romagna area.
From 29 April 2019 the bank became Solution Bank.
Yes account: is it safe?
Deposit accounts are among the safest investments, the reason is that depositors’ funds are naturally covered by the guarantee Interbank Deposit Protection Fund.
The guarantee includes the reimbursement of the deposits of each account holder up to a maximum of 100,000 euros, in the event that the Bank finds itself in serious problems and is no longer able to return the sums left in its custody.
Clearly the Yes Account also enjoys this protection, furthermore you have to feel comfortable as your savings are invested in a deposit account which has guarantees offered by a solid banking group: the CET1 ratio value is 15.39% .
Given that the value of the Common Equity Tier 1 ratio is above 7-8%, it means that the institution is solid.
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Features of the Yes Account
The yes account can be subscribed to by individuals who are adults and reside in Italy.
Interest will be paid on the sums you deposit into the account, which we will analyze shortly.
It is a time deposit accounttherefore suitable for those who do not need to make frequent withdrawals and who can therefore obtain a higher return for this very reason.
I’ll tell you right away that this account does not provide for the reduction of the duration of the bond (so if you choose to tie up your money for 24 months you will have to keep it for this time) nor for its early repayment.
You could also opt for the free deposit account, but the interest is 0.1%, so we are dealing with a very small amount.
To start tying up your money you need to know that there is a minimum amount binding, equal to €5,000.
Mainly it is an account:
Safe, as we saw before, it joins the interbank deposit protection fund;
Simple, because it can be opened online in a very short time;
Reliable, as it is a secure bank;
Flexible, because you can choose the duration of your bond from a minimum of 6 months to a maximum of 60;
Ecological, because it is a digital account and you will not need any documents to sign;
Economicwithout opening or management costs.
Interest rates
Let’s get to the most important part that an investor looks at when choosing to open a savings account. It is precisely about the returnsor the interest rates that are recognized on the sums you choose to deposit.
The rates I am about to report to you are in force on 21 February 2024 and are valid on the minimum amount which we have just seen is €5,000.
For each duration of the bond we have a different gross annual interest rate, increasing:
6 months: 3.00%; 12 months: 4.10%; 18 months: 4.10%; 24 months: 4.10%; 36 months: 4.10%; 48 months: 4.15%; 60 months: 4.15%.
However, there is no maximum overall balance limit and interest is credited annually liquidated on the expiration date of the bond.
On the bank’s website it is also possible to carry out a simulation, to quickly understand how much we will earn on the amount we choose to deposit.
For example, if we choose to tie up €6,000 for a total of 18 months, we will have a net return of €271.81, given that the gross rate is 4.10%.
The costs of Conto Yes
We have already seen before that i costs of the account are really low: there are no fees for signing up for the account, there are no fees per operation and not even any management fees.
The costs for the liquidation are equal to 0, while there is a cost of €1.50 just for having a copy of the documentation.
The stamp duty is your responsibility, and is equal to €0.20, while the withholding tax on sums is 26%.
How to open a Yes account
Opening the account is really very simple and immediate.
Just go to the official website and access the modulo online.
You will then need to fill out the form by entering your personal data. Keep your mobile phone, your email, your tax code, your identity document and the IBAN of your personal current account handy.
You can also open it with SPID or electronic identity card.
When you have opened the account you will first receive your personal credentials, then your username and password to access your reserved area and consequently your account.
You will then be able to choose the yield lines best suited to your needs and begin depositing your savings to obtain returns.
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Yes Deposit Account: My Business Opinions
Now that you know the yes deposit account offer I can try to provide you with mine opinions about this product, so you can subsequently make your own assessments on it.
Currently i interest rates they have risen compared to some time ago, in which they had dropped dramatically, but you have to consider the era in which we live, that of high inflation. In fact, if you choose to opt for this solution, you should think first of all about the cost of living which is high at the moment, and then think from a more general.
However, a savings account could be a good solution for setting aside your savings and making them appreciate over time, rather than perhaps leaving them in the current account where they lose purchasing power and don’t make you earn anything.
I can tell you that in this context the interest rates of deposit accounts have risen, and the banks are offering advantageous offers: for this very reason you may find yourself faced with many different offers, and perhaps be undecided about which one may be the best for you.
For this reason, if you take a look here you can compare the various offers and understand if there are instruments that are more suitable for you, based on the duration of your bond, the interest rate and the amount of money you are interested in tying up.
The convenience of the account is quite relative, therefore it depends on subjective needs…
Let’s try to delve deeper and see who might find it convenient to open a savings account.
The savings account is for you…
If you are looking for a very flexible account, without time constraints; If you want an online account with no activation and management fees; If you want to organize your account with small monthly recurring payments.
The savings account is not for you…
If you are looking for higher interest rates that allow you a greater profit, even spread over a long period of time; If you are willing to block a pre-established sum of money even for long periods, and you are not interested in having greater freedom because you already know that you will not need to use it.
Conclusions
At this point in the review you are in possession of all the useful information to decide whether the account in question may be convenient for you or not.
You have also read my expert opinion on this product and on the general situation of deposit accounts, now all you have to do is make your own assessments, knowing the limits of the instrument.
If you want to quickly find the most advantageous offers and the best 2024 deposit account in terms of interest rates you can use TOP Deposit Account, the best search and comparison service for all deposit accounts in Italy. Save time and do a targeted search, try it!
If you are thinking about how to invest your savings, but don’t know where to start, here are a series of resources I thought up for you:
See you soon and good investments!
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