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A Bank certificate of deposit is a security that certifies the amount of the deposit made to the bank and the rights of the certificate holder to receive the deposit amount and the interest stipulated in the certificate after the expiration of the specified period. Interest payment on the certificate of deposit is made at the end of the month before the sixth day. The certificate of deposit can be presented for payment ahead of time. In case of early presentation of the certificate for payment, the Bank pays the amount of the deposit and the interest paid according to the terms of the issue after the presentation of the certificate for payment.
Advantages of certificates of deposit:
- a fixed interest rate that does not change during the entire term of the placement of funds;
- possibility of assignment of rights;
- use of the certificate of deposit as a collateral for the performance of obligations to the bank and other creditors;
- the Bank's certificates of deposit are accepted for payment at any branch of the Bank, regardless of the place where they are issued;
As well as certificates of deposit can be resold, donated, put as collateral when receiving a loan and sent to the Authorized Fund of the enterprise.
