What motivates depositors to arrange deposits exceeding 200 thousand hryvnias despite the fact that they are not covered by the guarantees of the Individual Deposit Guarantee Fund? What methods do the banks apply to attract such customers? Prostobank.ua has asked the experts.

Nikita Malyasov, Head of Deposits Unit at FUIB

The main reason is that there is almost no alternative to classic time deposits because of the insufficient development of the stock market in Ukraine (for individuals) and other investment channels, low level of financial literacy of the general public. As for working with other, more complex financial instruments, it is necessary to have special education and constantly monitor the relevant market trends.

Moreover, the majority of banking institutions of Ukraine offer to the person arranging a large deposit various forms of their loyalty: higher interest rate, overdrafts secured by this deposit, discounts for other banking products, premium bank cards for reduced fees.