Is the T-Bank savings account a good option for value for money?

It can be, but you've got to be careful not to get burned by the fees they charge

Can I withdraw my money at any time?

Yes, you can take out your money at any time, no questions asked

Is the account FDIC-insured?

Yes, the account is FDIC-insured, so your money is protected

How long does it take to transfer money to my card?

It only takes a few seconds to transfer money to your card

Can I open multiple accounts?

Yes, you can open multiple accounts for different purposes

What happens if I exceed the balance threshold?

You'll get hit with a huge fee if you exceed the balance threshold

Is the Pro subscription worth it?

It depends on your balance and usage - it's not worth it for everyone

Can I close the account at any time?

Yes, you can close the account at any time without losing out on interest

What's the interest rate like?

The interest rate is ridiculously high, making it a great option for saving

Can I withdraw and deposit money?

Yes, you can withdraw and deposit money whenever you need to

Is the account easy to use?

Yes, it's super easy to close or open the account as needed

What happens if I don't pay the fees?

You'll get hit with penalties and fees if you don't pay the fees on time

T-Bank Savings Account Review: Is it a Game Changer?

Hello to everyone who's been following my review!

I'm still holding onto the hope that I'll trade in my car soon and start cruising around in a shiny new BMW, Audi, or Mercedes. But for now, I'm just saving up and waiting for the right moment.

This summer, something unexpected happened with my T-Bank account. They froze a large sum of cash, citing some pretty shady stuff about 'abuse of privileged programs.' To be honest, I've pretty much stopped using my T-Bank cards, but I did leave my savings account and deposit intact – thank goodness they're insured, so nothing can go wrong with them.

I was also planning to switch to a new mobile provider and cancel my Pro subscription, but I've put that on hold for now.

I've got a Pro subscription with T-Mobile, and the accumulated balance is actually more beneficial. But what's really getting under my skin is that I have to pay 299 rubles every month for it. It's totally ridiculous, especially considering that they charge me for just one day of storing 1 million rubles in my account.

My T-Bank deposit is doing okay, but it's nice to have both a deposit and a checking account, where I can withdraw cash if I need to. And right now, T-Bank's checking account has the most attractive terms.

Opening a checking account

To open a checking account with T-Bank, you just need to be a client. It takes seconds to open an account through the T-Bank app.

You can open multiple accounts, but there's no point in doing so, since this account is the one that gets topped up.

The minimum balance for the checking account is 1 ruble, and you can only open a deposit in rubles.

The app has all the conditions for the tariff, and they're super transparent and beneficial for clients.

How to open and top up your account

Your deposits and accounts are insured in accordance with Federal Law No. 177 "On Insurance of Deposits in Banks of the Russian Federation".

If the bank's license is revoked

Compensation is paid by the Deposit Insurance Agency in the amount of 100% of the deposit, but not exceeding 1.4 million rubles per depositor in one bank.

So, 1.4 million is the maximum amount of insurance compensation that applies to all products in one bank (debit cards, deposits, accounts).

Right now, the maximum interest rate on a deposit with an active subscription to Pro is 13% per annum.

I've tried Ozone accounts, and the maximum interest rate is 23% for the first two months, then 17% if you meet the conditions, but I've stopped using it. For me, it's the least profitable account because interest is only accrued on the minimum balance in your account during the month, and I constantly top up my account. I don't want to constantly open and maintain multiple accounts. Plus, to get 17%, you need to use the Ozone card constantly, and I think it's not worth it.

And here's 13% with no conditions - just 299 rubles.

You can open a deposit for any term.

I had a period when there was no money on my account, but I didn't close it - it doesn't ask for bread, and the service is free.

How can you benefit from putting money on a deposit?

With T-bank, you can deposit money on any day of the month. The interest you earn will be credited to your account on your calculation day.

I've got 6th as my calculation day. I deposited 700,000 rubles on December 2, and on December 6, I earned almost a thousand. That's not bad, if you ask me.

I've found that topping up my account is super easy - I can do it through T-bank ATMs by transferring the funds to my debit card and then into the app, or through Sberbank, transferring the funds to my debit card and then to my account.

The debit card account isn't linked to my savings account, so the interest gets credited to my savings account, not my debit card account.

The interest is calculated daily, but paid out monthly.

Let's say I deposited 1 million on the 1st, withdrew 500,000 on the 15th, received my salary on the 25th and topped up my account with another 200,000 on the 26th, and then withdrew 100,000 on the 26th. I can top up and withdraw as I see fit, and I'll still be in the black!

I've tried a lot of different accounts, but this one is a real winner!

Tariff

The account management is free, and opening the account is free too.

One thing I wish they'd do is show me how much I'll have in rubles at the end of the month, since the account is both a deposit and withdrawal account.

The monthly interest capitalization is a huge plus - it means my interest gets calculated based on the current balance, not the initial deposit.

I've opened 12 accounts, but I only really need one - why bother with multiple accounts?

Opening a 13th account would require a trip to the bank, and it'd cost me 1000 rubles.

The maximum balance I've had on this account is just over 1 million.

I didn't keep track of the exact amount I earned, since I was both depositing and withdrawing, and most of the time my money was still sitting in my T-bank account. If I hadn't left that million alone, I'd have earned around 11,000 rubles in a month.

I also had a pretty decent interest rate on my account

Account Closure

The account is open-ended. Every month, interest is added to the account, and it's automatically renewed.

I don't see a need to close the account – you can withdraw your money and leave the account empty. I actually had it that way for a while.

You can close the account at any time without losing your accrued interest. Even if you close it before the end of the calculation period, your accumulated interest will be transferred to your debit card at the end of the period.

If you withdraw money and then deposit it again, you won't lose anything.

My Experience with the Product

Of course, I'd prefer a T-bank account with a 23% annual interest rate, but I also have this account because I tend to transfer large sums for purchases, and it's clear you can't do that with a savings account.

This is the most profitable account I've had. After depositing 700,000 rubles just four days ago, I've already earned almost 1,000 rubles.

I'm guessing the interest rate on the account will increase in December, since the central bank's rate is sure to go up.

This account has no conditions or hidden pitfalls.

One of the features I really appreciate in the app is the ability to instantly get a statement about my account balance - super convenient. Plus, I can order a statement about transaction history, or a statement about my account balance, all for free and automatically within the app.

My Verdict

This account offers the best value for money, with the most attractive interest rates I've seen so far.

You can withdraw, deposit, or do whatever you want with your money without ever going into the red.

This account is a great choice if you plan to use your money. If you don't plan to use it, consider putting it into a T-bank deposit account, or another high-interest savings account)

Overall, I'm really happy with this account, and I think you will be too. The daily capitalization of interest is a game-changer - it's a feature that's hard to find elsewhere.