What is the difference between a savings (investment) certificate and a term deposit? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between a savings (investment) certificate and a term deposit?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A savings certificate is a long-term savings vehicle (from one year up to 10 years) with a high return, and it cannot be broken before 6 months.

A deposit, by contrast, is a short-term vehicle (usually from one week up to one year) with a lower return, and it can be broken at any time without the 6-month condition.

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