“Top 7 High-Interest Dollar Savings Certificates in Egyptian Banks”

02:51 PM

Saturday, April 29, 2023

I wrote – Manal Al-Masry:

Banks are expanding in issuing savings certificates in dollars at high interest rates to motivate customers to invest their savings in foreign exchange in the banking system at a profitable rate of return, after increasing interest rates globally.

And 7 banks (Al-Ahly, Egypt, Cairo, Commercial International Bank CIB Egypt, Al-Baraka, Abu Dhabi First and Al-Arabi) raised the interest rate on dollar certificates before the end of last year after the Federal Reserve (the US Central Bank) raised the interest rate on the dollar to 5% globally.

The details of purchasing dollar-denominated certificates vary from one bank to another at the level of interest rate, minimum purchase, and the periodic exchange of the return.

Masrawy provides details of the highest interest rate on dollar certificates in 7 banks to motivate customers to invest their savings at a profitable return.

National Bank of Egypt

– The new golden certificate for a period of 3 years:

The return rate ranges between 5.30% with an annual exchange period, 5.25% with a semi-annual exchange period, 5.20% with a quarterly exchange period, and 5.15% with a monthly exchange period.

Minimum Purchase: From the first 500 USD or its multiples.

Ahl Masr dollar certificate with a validity of 5 years:

The interest rate ranges between 5.15% for the annual return period, 5.10% annually for the semi-annual return exchange period, 5.05% annually for the quarterly return exchange period, and 5% annually for the monthly return exchange period.

Minimum purchase: starts from 500 USD and its multiples.

– Ahl Masr dollar certificate with a term of 7 years: the interest rate reaches 5.05% annually, 5% annually, semi-annual, 4.95% annually, quarterly, 4.90% annually, monthly.

Minimum purchase: starting from 1000 USD.

Commercial International Bank

– Certificate for 3 years: the annual return rate is up to 5.25%, paid monthly.

– 5-year term certificate: the interest rate is up to 5% annually, with a monthly periodicity, to pay the return.

– 7-year term certificate: the annual interest rate is up to 4%, and the return is paid monthly.

The minimum purchase price for any one of these certificates starts from $1,000.

Egypt Bank

– Certificate of stability for 3 years: The annual interest rate ranges between 5.15% annually for the monthly interest payment period, 5.20% for the quarterly interest payment period, 5.25% for the semi-annual interest payment period, and 5.30% for the annual interest payment period.

The purchase of the certificate starts from the first 100 dollars, which is the lowest minimum amount for purchasing dollar certificates at the level of major banks.

– Dollar certificate of stability for 5 years: The annual interest rate ranges between 5% for the monthly return exchange period, 5.05% for the quarterly return exchange period, 5.10% for the semi-annual return exchange period, and 5.15% for the annual return exchange period.

Certificate purchase starts from the first $100.

Cairo Bank

Primo certificate for a period of 3 years: the return rate ranges between 5.30% annually, 5.25% annually for the semi-annual interest payment period, 5.20% for the quarterly interest payment period, and 5.15% for the monthly interest payment period.

Primo certificate for 5 years: the interest rate ranges between 5.15% for the annual return, 5.10% annually for the periodic payment of the semi-annual return, 5.05% annually for the periodic payment of the quarterly return, and 5% annually for the periodic payment of the monthly return.

– Primo Certificate, with terms of 7 years, interest rate: up to 5.05% annually, 5% annually, semi-annual, 4.95% annually, quarterly, and 4.90% annually, monthly.

And the purchase of the certificate starts from the first 100 dollars.

Al Baraka Bank

Certificate with a 3-year term: interest is paid at an annual rate of 5.25%, the return is paid monthly, and the minimum starts at $100 and its multiples.

Arab Bank

Triple Certificate: 5% interest is paid annually, the return is paid daily, and the minimum purchase starts from one thousand dollars.

First Abu Dhabi Bank

A three-dollar certificate: an interest rate of 3.75% is paid annually, the return is paid monthly, and the minimum purchase starts from one thousand dollars.

A triple certificate in dollars: an interest rate of 4% is paid annually, the return is paid monthly, and the minimum purchase starts from 10,000 dollars.

A triple certificate in dollars: an interest rate of 4.25% is paid annually, the return is paid monthly, and the minimum purchase price starts from $100,000.