01:03 p.m
Tuesday, October 22, 2024
Manal Al-Masry wrote:
Three major geographically distributed banks reduced the interest rate by 0.5% on dollar savings certificates this month, following the recent decision of the Federal Reserve – the US central bank.
The decision of the National Bank of Egypt and the International Commercial Bank (CIB) to reduce interest rates came after the US Central Bank reduced the interest rate on the dollar by 0.5%, recording 3.75% and 5% , to reverse the compressive motion. two and a half years.
The three banks had lowered the interest rate on the dollar a year after it was introduced and Egypt came out as the foreign exchange crisis it suffered over 2022 and 2023.
In the following lines, Masrawy gives details about buying savings certificates in dollars in 3 banks.
National Bank
– Al-Ahly triple “immediate” certificate: the rate of return is 8.5% per year, the return is paid in advance in the equivalent of the dollar to the Egyptian pound.
Minimum purchase: starting from the first thousand dollars.
– AlAhli Plus Triple Certificate: The rate of return is 6.5% per year and the return is paid quarterly.
Minimum purchase: starting from the first thousand dollars.
Bank of Egypt
– The triple certificate “Qemma”: the rate of return is 8.5% per year, and the interest is paid in advance in the equivalent of the dollar to the Egyptian pound.
Minimum purchase: starting from the first thousand dollars.
– Triple certificate “Elite”: The rate of return is 6.5% per year and the return is paid quarterly.
Minimum purchase: starting from the first thousand dollars.
International Bank of Commerce
– Triple certificate in dollars: the rate of return is 4.75% per year and the result is paid monthly.
Minimum purchase starts at $1,000.
2024-10-22 10:03:00
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