Co-founder of Affari Miei
5 December 2023
There are many offers of deposit accounts currently in Italy, especially in this period in which interest rates are higher and all banks are offering offers to induce investors to choose one. Today I’ll tell you about Deposit 102+il deposit account which is proposed by Government Bank and which can present a truly advantageous offer, which deserves to be analyzed in detail.
This is a savings account that also has a social impact which is good for the community, while doing what it was born to do, which is to grow your savings.
We will therefore see all of his together characteristicsfocusing above all on interests e costs which are the main aspects to consider and, subsequently, we will make some reflections on the matter.
Enjoy the reading!
This article talks about:
Guber Bank: here is a brief presentation
The government of the bank is an Italian digital bank that puts people at the center. Digital is an essential tool, useful for making banking faster and more transparent.
Digital allows us to overcome physical distances and also allow customers to be more competitive.
Their values are integrity, transparency and desire to support the economic and social development of the area.
Among their objectives there is also that of standing out in the banking sector, providing innovative and digital solutions, and placing people at the center of actions.
It is also the first Italian bank to receive authorization ex new by the ECB.
They also show, among other things, an important commitment to the future of the economy and to change to create a impact lasting and significant for the common good.
Is Deposit 102+ safe?
When choosing any investment instrument, the first thing to check and check is to see if the institution offering it is safe and, subsequently, also to check and verify how safe the instrument itself is.
Guber is a safe and solid bank: this is attested by a CET1 ratio which for 2021 was equal to 23.35%.
This is a very important index, expressed as a percentage, which is calculated by comparing a bank’s core capital, Tier 1, with its risk-weighted assets.
The index is set at a reference threshold by the ECB of at least 8%, while in Italy it is equal to 10.5%: if a bank exceeds this it is considered safe. In this case I would say we are there.
If we focus instead on the instrument, you should know that for deposits of less than 100,000 euros all banks are covered by the Interbank Deposit Protection Fund, which is to all intents and purposes a reimbursement guarantee for account holders and therefore in the event of bankruptcy there is no need to worry.
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Conto Deposito 102+ Guber Banca: The characteristics
Deposito 102 is a savings deposit subscribed to by individuals who are looking for a solution to make grow your capital without taking too many risks.
On the sums you choose to deposit, fees are recognized interestsevery six months and upon expiry of the bond, unless other particular liquidation conditions may be envisaged.
It is a time deposit which refers to constraints relating to time deadlines.
The minimum binding deposit is €5,000 while the maximum limit is €350,000 and it is important to underline that a customer can have a maximum of one deposit account.
Guber Deposit Account Returns
Let’s now look at the most important part of the deposit account, i.e interest rates and the returns that will be paid to you.
Here we must make a distinction as this deposit account has more constraints, but only in one case do we have the possibility of contributing to the community support project we talked about at the beginning.
The gross interest rates for the maturities of the deposit 102 based on the duration of the constraint are the following:
12 months: 5.05%; 24 months: 5.55%; 36 months: 4.70%; 48 months: 4.10%; 60 months: 3.60%.
The interests are as follows and I remind you that it is not possible to release the money in advance, so the sums will be unavailable until the bond expires.
If you choose to tie up your money for a period of time equal to 24 months, then you must know that you will not be able to withdraw your money after, for example, 18 months, but you will necessarily have to wait for the expiry of the period and the pre-established bond.
Deposit account 102+: the constraint and the simulation
The possibility of tying up your money and contributing to the community project that I will present to you shortly refers only to 18 month restriction.
In this case the annual nominal rate for a bond of
18 months is equal to 5.30%, with the bank recognizing 0.50% per year of the sums tied to the project.
I’ll give you an example with simulation taken directly from the bank’s official website so everything will already be clear.
For example, if you choose to tie up €10,000 for 18 months, with a gross rate of 5.30% and considering that 0.50% will be donated to the non-profit organization, then this will be what you will get:
A deposit account with social impact
This account combines savings protection with support of social projectsto help disadvantaged people become autonomous and integrated, through the creation of opportunities for the community and the territory.
In fact, Guber undertakes to pay an amount equal to 0.50% per annum of the restricted sums, precisely in favor of the project benefiting from the collection.
The project is related to the Foqus Foundation, which is responsible for creating a common home for children with cognitive disabilities in the Spanish neighborhoods of Naples.
Costs
Let’s see what they are costs to bear.
There are no costs for opening the deposit account or for its management, so there is no annual fee to pay.
There are no costs to close the deposit or to receive statements or transparency communications.
L’stamp duty it is equal to 0.20% on the sums deposited and is paid by you.
The withholding tax on accrued interest is 26%.
How to open a deposit account
Open the savings account it is very simple, as you will be asked for your personal details, contact details and a valid identity document.
You can then check all the data entered and modify them before confirming.
Then you can be recognized and carry out the recognition.
Early releases
We also see this aspect that interests investors.
In this case, as I may have already mentioned to you previously, it is not possible to release the sums before the expiry of the constraint, therefore early releases are not foreseen.
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Deposito 102+: Affari Miei’s opinions on the deposit account
We have reached the end of the review on savings account 102+so we can now draw some conclusions together and try to understand the convenience of the Guber deposit account.
In this period, interest rates have started to rise again: this offer is in line with those of other banks which are now trying to offer investors increasingly more competitive rates.
Deposito 102+ does this, and it is a valid option for those who are looking for a reliable and safe way to grow their savings.
This particular savings account also has a ethical purposeso we can say that it is an interesting solution also for this reason.
A weak point could be the non-possibility of release the money before reaching the constraint: if you are looking for greater flexibility perhaps you could think of looking at another solution.
If, however, you don’t intend to get your savings before the deadline, then you can easily choose this savings account.
Overall, the savings account 102+ presents itself as an interesting opportunity for those seeking stability and attractive returns in panorama of low-risk financial products.
If we have to stop to analyze the deposit returns 102, we see that the more the period increases the more the rates fall: in this case it seems that the deposit account is more interesting in the case of shorter deadlineswhile the same cannot be said for longer maturities.
I cannot therefore give you a certain answer: I can advise you to evaluate your financial needs well and to compare all the available options to understand which offer is best for you: in this regard I recommend you consult the deposit accounts page.
Here you will find all the reviews of the best deposit accounts currently in circulation, so you can make your own reflections and choose based on your needs.
Conclusions
We have truly reached the end: now it’s just up to you to understand and make a thoughtful choice about the greater or lesser convenience of the product.
You must decide whether or not to activate the service or whether to look for another deposit account.
If you are just interested in having an overview of multiple instruments and being able to compare them, using a convenient and effective tool, all you have to do is try the automatic account comparator, Conto Deposito Top.
Before saying goodbye, I leave you with some guides that may be useful to you to start managing your money:
I greet you, I hope you will continue to follow Affari Miei!
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