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What are Certificates of Deposits “CDs” & Term Deposits “TDs”?
CDs and TDS are saving instruments that are offered by most banks, whereby you deposit a certain sum of money with the bank for a specific period and they pay you an agreed-upon interest rate.
What is the difference between Certificates of Deposits “CDs” & Term Deposits “TDs”?
While CDs & TDs seem to be different instruments, they are actually the same thing. CDs typically refer to deposits with a period of greater than one year while TDS to deposits with a period of less than one year.
What are the main factors to consider when researching CDs & TDs?
There are a few factors you need to decide on before you start comparing between different CDs & TDs. Namely:

  • Currency: Both saving instruments are offered in multiple currencies (Egyptian Pounds, US Dollars, Euros, and British Pounds)
  • Interest Rate Fixed vs. Floating: You either have a fixed interest rate for the entire period, or one that changes based on the changes done by the central bank of Egypt. Fixed is a safer investment that protects against any reduction in interest rates but loses you the potential in interest rate increases.
  • Time Period: The amount you plan to invest can be between 1 month and up to 10 years.
  • Breakage Penalties: Some of the products can include breakage penalties if you decide to withdraw your funds before the agreed time period or tenor

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