Over 222 thousand long-term financial agreements, known as savings contracts, have been finalized in the Kuban region.
The Central Bank of Russia guarantees the safety of funds in the long-term savings program, with the fund compensating clients for any losses. This program, which is available to any adult Russian citizen, provides insurance protection that exceeds the protection offered by bank deposits.
In Krasnodar Krai, the long-term savings program offers a unique opportunity to multiply savings for crucial life stages like retirement, children's education, or home purchase. The state ensures the safety of up to 2.8 million rubles in the program, doubling the insurance protection of bank deposits.
Participants in the program in Krasnodar Krai can enjoy tax breaks and, under certain circumstances, access their funds earlier for specific purposes like pension, medical, or loss-of-breadwinner needs. Moreover, they can receive government co-financing, contributing to regional economic development.
Alexei Yurtayev, the Krai Minister of Economy in Krasnodar Krai, has highlighted the benefits of the program. He emphasized the opportunity to multiply savings for crucial life stages and the contribution the program makes to regional economic development.
Over a year and a half, regional residents in Krasnodar Krai have signed 222,200 contracts totaling over 8.2 billion rubles, demonstrating the program's popularity. The program in Krasnodar Krai helps residents build a financial "safety net".
It is important to note that the funds deposited in the long-term savings program are invested in various financial instruments, including government and corporate bonds, stocks. However, the specific institutions that have invested deposit funds into long-term savings programs in Russia could not be identified from the available documents.
The participation period for the long-term savings program in Russia is a minimum of 15 years, but funds can be accessed earlier for the mentioned purposes. The long-term savings program in Russia provides insurance protection beyond that offered by bank deposits, making it an attractive option for those seeking long-term financial security and growth.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
