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After the National Bank of Egypt made amendments to the National Bank certificates and canceled the issuance of the annual platinum certificate with a return of 15% for a year, following the meeting of the Bank’s Assets and Liabilities Management Committee, the interest of a large group of Egyptians was directed to search for alternatives to National Bank certificates. National Bank, savings account from Banque Misr, and Commercial International Bank savings certificates.
National Bank Certificates
Note that annual interest rates have been reduced on new issues of certificates Ahli Bank Where investment certificates (B) for individuals issued by the National Bank of Egypt have been amended to become 10.25% for a year instead of 13% and 10.5% for two years, instead of 14% and 10% for 3 years instead of 12%, and for investment certificates ( A) For natural persons and corporate bodies for a period of 10 years, with a cumulative interest, to become 10.25% annually.
Reduction was also decided Benefit Also on the National Bank certificates, where investment certificates (D) with a duration of 3 years, issued to corporate bodies only, have been amended to become 10.75%, with investment certificates based on the same prices for the remaining period. National Bank poses on behalf of all NIB Certificates Investing in its branches because the Investment Bank does not have branches affiliated with it, in addition to National Bank certificates of course.
Saving account from Banque Misr
Interest rates and savings bands
Presents Egypt Bank Banque Misr customers open a savings account with a minimum of 1500 EGP, with the ability to choose to periodically exchange the interest for savings accounts between (monthly – quarterly – semi-annually – annually)
Banque Misr also provides customers with some advantages:
One of the most important features is the ability to inquire about accounts and carry out most banking transactions for free through the Internet banking service and the mobile application provided by Banque Misr, and the customer can open a joint account in the name of more than one person, and conduct all banking transactions through the bank’s branches throughout the Republic. With the possibility of issuing an immediate debit card on the account
Also, a Banque Misr customer can allow the purchase of Banque Misr savings certificates to be deducted from your account and the return is added to the account automatically on the due date and the possibility of paying the value of the insurance premiums as a deduction from your account.
The customer can also easily deal with the account through the automated teller machines spread throughout the country, 24/7, and it is also possible to issue all types of credit cards with the guarantee of the savings account.
Interest rates on the savings account from Banque Misr
The interest rates on the “Banque Misr” savings accounts are calculated according to segments ranging from 1500 EGP up to more than 500,000 EGP in various monthly and quarterly periodicals, semi-annual returns and annual returns.
|Slide / Statement||Monthly return|
From 1500 pounds to 5000 pounds
More than 5 thousand pounds up to 50 thousand pounds
More than 50 thousand to 250 thousand pounds
More than 250 thousand pounds and up to 500 thousand pounds
More than 500 thousand pounds
Commercial International Bank savings certificates
As for savings certificates Commercial International Bank“CIB”, its types, periodicity and the value of the return from it. The Commercial International Bank, CIB, provides a package of multiple savings certificates that suit all customers’ needs in terms of duration and value, in local and foreign currencies.
Individuals saving certificates – in Egyptian pounds
A medium and long-term savings certificate for periods ranging between 3 or 5 years
– Return calculation on a fixed and variable basis
The possibility of retrieving the certificate:
– For a certificate with a fixed return of 3 or 5 years – full or partial redemption after 6 months from the date of issuance of the certificate
– For a certificate with a variable return of 3 years – full or partial redemption after one year from the date of issuance of the certificate
– Access to credit facilities of up to 95% of the certificate value *
Fixed-return savings certificate
Certificate duration is 3 or 5 years
The minimum purchase amount is EGP 1,000 and its multiples
– The interest is calculated and paid monthly, quarterly, semi-annually or annually (according to the duration of the certificate)
Variable return certificate of savings
The duration of the certificate is 3 years
– The minimum purchase amount is 6,000 EGP and multiples of 1,000 EGP (with a monthly return)
– The applicable interest rates change according to the change in the deposit and discount rate announced by the Central Bank of Egypt
– In the event that the return is entitled to a day off a weekend or an official vacation, the official or weekly vacation days are added to the number of days of the month in the calculation of the return and the settlement is made in the last addition of the return when the certificate is due.
– In the event that the due date of the return payment coincides with an official holiday or a work leave at the end of the month, then the return is paid on the last working day before the due date in the same month
A savings certificate with a cumulative return, where the term of the certificate is 3 or 5 years, and the minimum purchase amount is 5,000 EGP and its multiples, and the return is calculated and disbursed on the due date.
Foreign currency savings certificates
A medium and long-term savings certificate for periods of 3, 5 or 7 years, available in dollars and euros only. Credit facilities of up to 90% of the certificate value *.
Fixed return The period of the certificate is 3, 5 or 7 years, and the minimum purchase is $ 1,000 or euros ** and their multiples, and the return is calculated and paid monthly, quarterly or annually (according to the duration of the certificate).
Variable return is available in dollars only, and the duration of the certificate is 5 or 7 years – the minimum purchase is $ 1,000 and its multiples, and the return is calculated and spent every three months.
- The situation in Egypt