I wrote – Manal Al-Masry:
The map of interest rates in Egypt changed after the sudden decision of the National Bank of Egypt yesterday to stop issuing the savings certificate with a return of 15%, which used to grant the highest return in Egypt.
Al-Ahly and Egypt are no longer at the top of the list of banks that issue high-yield certificates, and the Arab African International Bank and Alexandria are now the leaders, but the interest rates in banks may have an adjustment if the central bank changes the interest rate next Thursday.
The banks are awaiting the central bank’s decision next Thursday regarding the interest rate, until they decide on the interest rates on the certificates they provide in light of the new variables and cancel the 15% certificate.
Fixed-return savings certificates are popular with customers due to the high return on them compared to other funds such as short-term deposits or savings accounts.
Banks prohibit the client from breaking the certificate until 6 months have passed since purchasing it, and the customer can also obtain a loan with the guarantee of the certificate.
Masrawy provides a map of high-yield interest rates in 19 banks, after the 15% certification has been discontinued.
1- National Bank of Egypt:
3-year Platinum Certificate: The interest rate is 12% annually for the monthly return, and 12.25% for the quarterly return.
The certificate begins at the first thousand pounds.
2- Banque Misr:
A 3-year savings certificate: the interest rate is 12% annually, and the return shall be paid monthly.
The minimum to bind the certificate starts from the first thousand pounds and its multiples.
3- Arab African International Bank:
Emerald certificate with a maturity of 3 years: the interest rate ranges between 12% annually for the monthly return, 12.25% annually for the quarterly return, 12.375% for the semi-annual return, and 12.5% annually for the annual return.
The purchase of the certificate starts from 5,000 pounds as a minimum.
4- Bank of Alexandria:
It offers Alex 42 certification with terms of three and a half years: the return ranges between 12.5% per annum for the monthly return and 12.75% per year for the quarterly return.
The minimum purchase amount for the certificate: It starts from 10 thousand pounds, and increases by 1000 pounds and its multiples, and it is permissible to break the certificate after 6 months have passed since its purchase.
5- Banque du Caire:
The Primo Certificate has a term of 3 years: the interest ranges between 12% annually, the return is paid monthly, 12.10% annually, the return is paid quarterly, and 12.25% the return is paid every year.
The minimum purchase amount for the certificate: It starts from the first thousand pounds.
6- Commercial International Bank (CIB):
Provides a certificate with a maturity of 3 years: the interest rate ranges between 11% annually for the monthly return, 11.25% annually for the quarterly return, 11.5% annually for the semi-annual return, and 12% annually for the annual return.
The minimum purchase amount for the certificate is 1,000 pounds and its multiples.
7- HSBC Bank:
A 3-year savings certificate: the interest rate is 12% annually, and the return is paid monthly.
The minimum purchase amount for the certificate: It starts from the first thousand pounds as a minimum.
8- Housing and Development Bank:
A 3-year reconstruction certificate: the interest rate is 12% annually, and the return is paid every 3 months.
The minimum purchase amount for the certificate: It starts from the first thousand pounds.
9 – The Egyptian Agricultural Bank:
Harvest certificate with a term of 3 years: interest is recorded at 12% annually, the return is paid every quarter.
The minimum purchase amount for the certificate: It starts from the first thousand pounds.
10-Mashreq Bank:
Certificate with a maturity of 3 years: the interest ranges between 12% for the monthly return, 11.5% for the quarterly return, and 11.5% for the semi-annual return.
The minimum purchase amount for the certificate: It starts from 5,000 EGP.
11-Attijariwafa bank Egypt:
A 3-year savings certificate: interest ranges between 10.75% annually for the monthly return, 11% for the quarterly return, and 11.25% annually for the end of the term.
The minimum purchase amount for the certificate: It starts from 20 thousand pounds
3-year certificate for the return paid in advance: the interest rate is 24.75% combined. The customer gets its return after linking the certificate.
The minimum purchase amount for the certificate: It starts from the first 5,000 pounds.
12-Suez Canal Bank:
Certificate with a maturity of 3 years: ranging from 11% for the monthly return, 11.1% for the quarterly return, 11.25% for the semi-annual return, and 11.5% for the annual return.
The minimum purchase amount for the certificate: It starts from 5,000 EGP.
13-Previously Med Bank “Egypt Iran”:
A 3-year savings certificate: the interest rate ranges between 11% of the return paid monthly, 11.5% of the return paid quarterly, and 12% of the annual payment.
The minimum purchase amount for the certificate: It starts from the first thousand pounds.
14-Bank Audi:
A 3-year savings certificate: the interest rate ranges between 10% annually for the monthly return, 10.10% annually for the quarterly return, 10.25% for the yearly return, and 10.5% for the annual return.
The minimum purchase amount for the certificate: It starts from the first 10,000 pounds.
15-SAIB Bank:
Certificate with a maturity of 3 years: ranging from 10% for the monthly return, and 10.25% for the quarterly return.
The minimum purchase amount for the certificate: It starts from 5,000 EGP.
16-Credit Agricole Egypt:
A 3-year savings certificate: The interest rate ranges between 9.5% annually for the monthly return, 9.75% annually for the quarterly return, and 10% annually for the semi-annual return.
The minimum purchase amount for the certificate: It starts from the first 3,000 pounds.
17- National Bank of Kuwait:
A 3-year savings certificate: The interest rate ranges between 8.5% annually for the monthly return, and 8.75% annually for the quarterly return.
The minimum purchase amount for the certificate: It starts from the first 3,000 pounds.
18-First Abu Dhabi Bank:
3-year savings certificate: The interest rate ranges between 8.25% annually for the monthly return, 8.75% annually for the quarterly return, and 8.95% for the annual return.
The minimum purchase amount for the certificate: It starts from the first 5,000 pounds as a minimum.
19- BLOM BANK:
It offers a 3-year certificate: the interest ranges between 11.5% for the monthly return, and 11.75% for the semi-annual return.
The minimum purchase amount for the certificate: It starts from the first thousand pounds.
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