How is the penalty for breaking a certificate early calculated? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

How is the penalty for breaking a certificate early calculated?

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

The bank applies a redemption schedule that it sets, under which a certain percentage is deducted from the return that has already been paid to you, and not from the principal amount.

The penalty percentage decreases the longer you have held the certificate before breaking it.

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