How to calculate your financial loss when breaking savings certificates before buying the 18 certificate with the correct numbers

Many depositors tended to break savings certificates in government and private banks and transfer them to Banque Misr and Al-Ahly Bank of Egypt to buy new savings certificates with a return of 18% to take advantage of the higher material return, and they are savings certificates for a period of one year, non-renewable, according to what the Central Bank of Egypt announced in another He met him, and he headed to take this decision after the dollar’s price rose affected by the global events of the war in Russia and Ukraine and the rise in the price of oil, which resulted in many countries being affected economically and the price of hard currency increased in addition to the rise in the prices of commodities and foodstuffs.

break savings certificates
break savings certificates

Calculate your financial loss when you break savings certificates

Banks have set conditions and rules for those wishing to break their certificates of deposit before the maturity date. :

  • Savings certificates whose value ranges between ten thousand to less than one hundred thousand lose 70% of the total return that was spent, and it varies from one customer to another according to the deposit period.
  • Savings certificates lose 10,000 pounds after 6 months of buying them, with a value of 400 pounds out of the total return that was spent, which is 550 pounds. In the event that a year has passed, the total return reaches 1100 pounds, and 800 pounds will be deducted when broken.

Source: مصر فايف by

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