Saturday 04 September 2021
I wrote – Manal Al-Masry:
The National Bank of Egypt offers annual interest on all types of savings accounts that address different segments of society, whether an account for young people, for pensioners, for all customers, or for minors.
The National Bank decided to open savings accounts free of charge for all citizens who had not previously dealt with the bank and without establishing a minimum limit for opening the account, which ranges in normal days between 500 to 1,000 pounds, on the occasion of its participation in the Farmer’s Day, one of the Central Bank’s activities for financial inclusion, until the 15th of this month.
The bank agrees to the customer to open the account with a copy of the national number or a passport, provided that it is valid after he goes to the nearest branch and signs the request to open an account.
Al-Ahly Bank offers the regular account from the age of 21 years and above is available, or an account for youth from the age of 16 years, or for pensioners, in order to achieve the objectives of the Central Bank, a bank account for every citizen under the name (financial inclusion).
The bank sets special conditions for each type of savings account, whether in determining the interest rate, linking the rate of return on the account according to the segment, and the periodicity of its disbursement, which are binding conditions on all customers.
After opening a savings account, Al-Ahly Bank offers a free direct debit card (DBT) to each customer, as well as a prepaid feature without expenses, to deal with withdrawals and deposits through ATMs, as well as issuing a smart wallet for free, provided the customer requests to subscribe to it without calculating any expenses.
“Masrawy” presents the details of the interest applied to the types of savings accounts in the National Bank during a free account opening event on the occasion of the celebration of the Farmer’s Day:
1- Ordinary savings account:
The first tranche from 3001 pounds to 5 thousand pounds:
The interest ranges between 3% annually on the monthly return, 3.05% annually on the quarterly return, 3.10% annually on the semi-annual return, and 3.20% annually on the annual return.
The second tranche from 5001 pounds to 100 thousand pounds:
The interest ranges between 4% annually on the monthly return, 4.05% annually on the quarterly return, 4.10% annually on the semi-annual return, and 4.20% on the annual return.
The third tranche from 100,000 pounds to half a million pounds:
The interest ranges between 4.5% annually on the monthly return, 4.6% annually on the quarterly return, 4.65% annually on the semi-annual return, and 4.75% annually on the annual return.
The fourth tranche is more than half a million pounds:
The interest ranges between 4.75% annually on the monthly return, 4.85% annually on the quarterly return, 5% annually on the semi-annual return, and 5.25% annually on the annual return.
2- Future Savings Account:
It is offered to young people from the age of 16 to 50 years, and without expenses throughout the year, but in financial inclusion, the minimum account opening is exempted from 500 pounds.
Interest rate: ranges between 4.75% annually for the monthly return, 4.80% annually for the quarterly return, 4.85% annually for the semi-annual return, and 5% annually for the annual return.
3- Prize Small Savings Savings Account:
Interest rates range according to the account segment values:
From 3001 pounds to 30 thousand pounds: 5.25% annually.
From above 30 thousand pounds to 50 thousand pounds: 4.25% annually.
From above 50 thousand pounds to 100 thousand pounds: 3.5% annually.
More than 100,000 pounds: 3% annually.
4- Pension saving account:
Annual interest is paid at 5.25%.