11:45 a.m. Saturday, July 08, 2023
Triple certificates
Books – Manal Al-Masry:
Mashreq Bank – one of the UAE banks operating in Egypt – offers the highest interest rate offered on savings certificates for a period of 3 years for fixed return at the level of the banking system with great flexibility after increasing competition between banks to attract new customers’ savings or maintain their existing customers.
The competition increased between private and government banks to issue certificates with high interest rates after the Central Bank raised the interest rate by a total of 10% on deposits and lending in the last 16 months, aiming to curb inflation (limiting the pace of price increase), to record its return rate of 18.25% on deposits, and 19.25%. on lending.
In the following lines, Masrawy provides all the details of the triple certificate issued by Mashreq Bank, which provides the highest interest rate for fixed return in banks:
Interest rate: 19.5% annually, and the return is paid monthly (ie the annual interest rate is divided into 12 months and paid monthly).
The minimum amount for purchasing the certificate: one thousand pounds and its multiples.
Customer age: Available to all customers aged 21 years and over.
Breaking the certificate: The bank allows breaking the certificate and recovering its original or part of it, provided that 6 months have passed since its purchase.
Borrowing against its guarantee: gives the customer the right to borrow against its guarantee or to issue a credit card (credit card) for purchases in installments.
2023-07-08 08:45:00
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