What is the highest interest rate offered on savings certificates in banks?

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11:13 AM

Saturday 24 July 2021

I wrote – Manal Al-Masry:

Banks will return to work tomorrow, Sunday, after a long holiday on the occasion of Eid Al-Adha.

Banks will continue to implement their clients’ requests by issuing savings certificates or renewing them after their expiry dates on their due dates according to the prevailing return.

Banks offer savings certificates with different terms to customers, and different return periodicals, but the 3-year certificate is in great demand by customers, due to its high return, or average terms.

Banks allow new or existing customers, after issuing the certificate, the ability to subscribe to the Internet and mobile banking services for free, to deal with their certificate electronically.

The bank offers customers a cash loan with the guarantee of the certificate of up to 98% of its total value, in addition to the possibility of breaking the certificate and recovering it provided that 6 months have passed since its purchase.

In the following lines, Masrawy presents the highest interest offered on triple savings certificates for a fixed return at the level of the banking system in 10 banks:

1- Med Bank: The interest rate is 11.25% annually, and the interest is paid in advance every month for 3 years.

2- Housing and Development Bank: the interest rate ranges between 11.25% on the periodicity of the semi-annual return, 11% on the periodicity of the quarterly return, and 10.75% annually on the periodicity of the monthly return for a period of 3 years.

3- Nasser Social Bank: The interest ranges between 11.5% annually, paid at the end of each year, and 11%, the return is paid monthly for a period of 3 years.

4- The Real Estate Bank: the interest rate ranges between 11.25% annually on the periodicity of the quarterly return, and 11% annually on the periodicity of the monthly return for a period of 3 years.

5- The National Bank of Egypt: the interest rate is 11% annually, and the return is paid monthly for a period of 3 years.

6- Banque Misr: the interest rate is 11% annually, and the return is paid monthly for a period of 3 years.

7- The Egyptian Agricultural Bank: the interest rate is 11% annually, and the return is paid monthly for a period of 3 years.

8- Mashreq Bank: the interest rate is 11% annually, and the return is paid monthly for a period of 3 years.

9- The Arab Investment Bank: It issues a certificate with an interest rate of 11% annually, and the return is paid monthly.

10- First Abu Dhabi Bank: A triple certificate with interest ranging between 10% annually, paid monthly, 10.25% annually, paid quarterly, and 10.5% annually, paid each year.





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