Can minors open a CDT? This is what experts say

The Term deposit certificates (CDT) They are financial products that continue to be an alternative for Colombians. This service, offered by banking entities, allows save A sum of money for a specific time, generating interests as performance.

Considered a form of Safe investment with Fixed profitability and protected capitalthe CDT They can have deadlines from 30 days up to 5 years. However, the interest rates depend on amounthe termthe Banking entity and the economic situation of the country.

The Investors They receive the capital and its interests At the end of the term agreed with the Banking entity. Being one low risk investmentthe CDT They are a popular option among Colombians looking for performance about your money.

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CDT and minors

This tool is key to reaching financial goalsalthough its operation can generate doubts between Investors. Therefore, experts from Bettercdtleading platform in comparison, opening and retirement of CDTexplain if a under-age You can access this financial product.

David Susa, Cto of the Fintech Bettercdthe points out: “Although a under-age cannot open a CDT directly, you can do it through a Legal representative. This means that CDT will be in the name of the child and proxywho is generally one of the parents or a Authorized Legal Tutor. In Colombiait is not necessary that the proxy Be a Direct relativebut you must have the custody either legal authorization to represent the minor in financial matters. “

When the child meets 18 yearsmay decide if you want to assume the ownership of the CDT.

CDT profitability review

How often and how should I review the profitability of my CDT?

Unless it is a CDT with variable rateit is not necessary to consult the profitability constantly. The agreed at the beginning is what will be received at the end of the deadline. The review of the profitability can be done directly with the Financial entity where you have the CDT. If they are possessed CDT In different Banksit is important to perform this verification in each one.

With tools such as bestcdt appplatform that allows Compare, invest and remove CDT for free, it is possible to visualize in a way Unified and in real time the yields In different financial entities.

Of interest: Most profitable CDT in February: where to invest for better profits

Interest collection: What is the best option?

David Susa recommends request interest at maturity to take advantage of the compound interest. This means generating interest on interestwhich increases the Final gain.

“The cases in which the Periodic Payment of Interest They are usually due to specific needs. For example, some pensioners use the CDT Like a Extra income. In these cases, they invest the money obtained by the sale of a property in a CDT and request the Monthly interestssimilar to receiving the payment of a lease“The expert explains.

The CDT They are still a reliable option for those who seek Financial Security and Fixed profitability without assuming high risks.