A savings certificate from Sberbank is a security in which the deposited amount is certified. How does it differ from a deposit and what are its advantages.
A savings certificate is one of the products of Sberbank, which allows you to get a relatively high income and save your own funds.
Certificates can be in denominations of 10 thousand rubles. up to 8 million and more. The shelf life can be from 91 to 1095 days.
Differences between a savings certificate of Sberbank of Russia and a deposit
A savings certificate has a lot in common with traditional bank deposits. is a way to increase money. At the same time, it is characterized by a number of fundamental differences, including:
1) The certificate is issued in the form of a security, thanks to which the certificate can be donated, sold, transferred or used as collateral (for example, on a loan).
2) The certificate can be taken with you on a trip (instead of cash), and then exchanged for cash at any regional branch of the bank (in this contrast to a savings book).
3) Deposits are nominal deposits (that is, they are opened for a specific person), and according to a certificate, money can be received by any person - they are opened to a bearer.
4) An unlimited period of validity of the certificate, after the expiration of the period indicated on the security, it can be cashed out and received the accrued interest.
Savings Certificates Benefits
The main advantages of Sberbank savings certificates:
1) Higher profitability compared to classic deposits.
The income depends on the term of the placement of funds and can range from 0.01 to 9.30% in rubles.
2) There is no need to withdraw funds within the specified period, they can be received at any time.
3) High level of security of the security.
4) There is no need to personally come to the bank and cash out the certificates, as well as to issue a power of attorney to a third party.
Disadvantages of Savings Certificates
Despite the indicated advantages, the certificate is not devoid of disadvantages:
1) In case of early payment, interest is not charged (or rather, it is 0.01% per annum).
2) If the certificate is lost, it can be restored only through the court.
3) The certificate cannot be partially cashed, only full withdrawal of money with the loss of interest is possible.
4) The validity period of the certificate is not prolonged.
5) It is impossible to get% for the certificate before its expiration.
Finally, the main disadvantage of a savings certificate is that it is not covered by the deposit insurance system, i.e. no guarantees of a refund up to 700 tr
