National Bank of Egypt Offers 8 High-Interest Savings Certificates

03:23 PM

Tuesday 06 June 2023

I wrote – Manal Al-Masry:

The National Bank of Egypt continues to offer 8 types of savings certificates on the Egyptian pound at interest rates that are the highest in banks, and the return rate varies according to the term of each certificate.

And the continuation of the National Bank to issue certificates at unchanged interest rates comes with the Central Bank holding the fourth meeting of the Monetary Policy Committee this year to discuss the interest rate on deposits and loans on Thursday, June 22.

The National Bank sells some types of certificates from the first thousand pounds as a minimum for (platinum) certificates, or 500 pounds for (investment) certificates, and allows them to be broken after 6 months have passed since they were purchased.

In the following lines, Masrawy provides details of interest rates on 8 types of certificates in the National Bank of Egypt:

Platinum certificate for 3 years (for fixed return): It grants an annual interest rate of 19%, paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.

Platinum Certificate for 3 years with a gradual (decreasing) return: the annual interest rate ranges between 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.

– Platinum certificate for a period of 3 years (variable return): the interest rate is 18.5% annually. The return is paid every 3 months, and the minimum purchase price starts from the first thousand pounds and its multiples, and it is linked to the deposit rate with the Central Bank.

The five-year certificate (fixed return): It gives an annual return of 12.25%. The return is paid monthly, and the minimum purchase price starts from the first thousand pounds and its multiples.

– Investment certificate (B) with a term of one year (fixed return): at an annual interest rate of 11%, its return is paid monthly, and the minimum purchase price starts from 500 pounds and its multiples.

– Investment Certificate (B) with a term of two years (fixed return): with an annual interest rate of 11.5%, its return is spent every quarter, and the minimum purchase price starts from 500 pounds and its multiples.

– Investment Certificate (B) with a term of 3 years (fixed return): It grants an annual interest rate of 14%, and the return is paid every quarter, and the minimum purchase price starts from the first 500 pounds and its multiples.

– Investment Certificate (A) with a 10-year term for fixed (cumulative) return: It grants an annual interest rate of 9.5%, and the return is disbursed at the end of the certificate’s term, and the minimum purchase price starts from the first 500 pounds and its multiples.