At that moment when a person has free money, he wants not only to save it, but also to increase it. Now we will talk about what a certificate of Sberbank is and what are its differences from deposits.
What is a savings certificate?So, this is a security, which is a reliable tool for saving money. The certificate certifies the amount that an individual deposited into an account with Sberbank. After a certain period, the owner of the paper can withdraw his money with interest accrued on it.
How is a savings certificate from Sberbank different from a simple deposit?
The most important difference between the certificate and the contribution is that in the first case, it is not required to open an account for a specific person, since this security is issued to bearer. Thus, the owner who received the savings certificate, Sberbank gives you the opportunity to present, sell, buy or inherit without any problems. It can also be used as a payment document.
Benefits of buying a certificate
Among the advantages that a Sberbank certificate has are the following:
1. A higher interest rate than on deposit - 9.75% per annum. In this case, the holder of this paper will receive high incomes.
2. Money in a savings certificate can be saved for a long time, as well as presented for payment at any convenient time until the expiration of the contract.
3. Mobile use. The certificate can be gifted or sold at any time, while receiving the full amount on hand.
4. A certificate of Sberbank can be cashed out by anyone who holds securities and an identity document in their hands, therefore, it is not necessary to draw up a power of attorney or contact the bank yourself. But you should be careful, as fraudsters can cash out the certificate. Paper should only be given to someone you truly trust.
5. The certificate of Sberbank has a protection that is more similar to the protection of banknotes, so you can be safe without saving your own savings in this form.
6. The maximum amount here is practically unlimited. Sberbank certificate can have a face value of up to 8 million. Also, funds can be saved from 3 months to 3 years.
Disadvantages of buying a CertificateCertificates still have several significant drawbacks:
1. The minimum amount for acquiring a certificate is 10 thousand rubles. Papers can be purchased, but not cashed. If required, the money can be returned in full before the end of the term, but the interest rate will be 0.01 percent, as on the “Demand” deposit. As for certificates, the rate will be floating.
2. The certificate cannot be renewed as contributions. Therefore, the conditions for such securities can be used only in the event of a complete withdrawal of funds from them and the acquisition of a security anew.
3. Another disadvantage is that the certificates are not subject to insurance. Therefore, if the company goes bankrupt, then damages can only be made in the order of priority.
4. Interest is accrued only at the very end of the term, while deposits have capitalization and placement of their funds at a higher rate, that is, by transfers from one deposit to another.
Before you purchase a savings certificate, you should decide for yourself how much the benefits outweigh the disadvantages.