Early closure of a bank deposit can result in serious financial losses for the depositor, reports the Prime agency, citing Alexey Rodin, founder of the Family Finance Agency InvestArt Advisors.
According to the expert, in cases where a person decides to close his deposit before its expiration, banks often recalculate previously accrued interest at a rate of 0.01%.
As an example, a deposit of 500 thousand rubles placed at 12% for a year is given. For 11 months, 55 thousand rubles were accrued on it as interest. However, if you try to withdraw the money at this moment, and not leave it on the account for another month, as stated in the agreement, upon recalculation, the amount of interest will not be 55 thousand rubles, but only 46 rubles.
Moreover, if the client has already managed to withdraw and spend previously accrued interest, the amount will be withheld from the deposit body.
At the same time, the agreement may contain other conditions for early deposit: for example, if the money has been in the account for more than six months, it is possible to apply a rate of 2.3 or 6.10 from the original one. In addition, there are deposits with the possibility of partial withdrawal.
Therefore, it is important to carefully read the conditions for early repayment of the deposit, and also clarify them with the bank if the client cannot clearly understand the terminology used in the agreement, the expert points out.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
