I wrote – Manal Al-Masry:
Banks continue to issue savings certificates for fixed interest on the Egyptian pound on their first working day, tomorrow, Sunday, after the Central Bank’s decision to increase the interest rate, at the same previous interest rates, until the completion of the market study and the possibility of issuing new certificates or not.
The Monetary Policy Committee of the Central Bank of Egypt decided in its meeting last Thursday to raise the interest rate by 2%, bringing the interest rate at the Central Bank (Cordio) to 18.25% for deposits and 19.25% for lending.
In the following lines, Masrawy provides details of the higher interest rates applied to certificates of fixed return in Egyptian pounds, which will be offered tomorrow in the 25 most important banks, after the Central Bank’s decision to raise the interest rate.
Nasser Social Bank
– Triple accumulative certificate (for individuals): The interest rate is 22%. The return is paid at the end of the period.
– One and a half year certificate (individuals): The interest rate is 20%, the return is paid upon maturity.
– The triple certificate (return of favor) for the elderly from 60 years and above: the interest rate is 17.75%, the return is paid monthly, and 19.25% is paid annually, and the purchase starts from the first thousand pounds.
– Returning the favor certificate for one year: at an interest rate of 11.75% for the monthly return, and 12.95% at the end of the certificate’s maturity.
– The triple certificate for “individuals”: the annual interest rate is 17.5%, the return is paid monthly, 17.75% is paid quarterly, and 19% is paid annually, and it starts to be purchased from the first thousand pounds.
Emirates NBD Bank
Triple certificate: the annual interest rate is 18%, the return is paid monthly, 18.25% the return is paid quarterly, and 18.5% is the annual return exchange period, and the minimum purchase amount is 350,000 pounds without a maximum issuance limit.
Triple certificate from the first thousand pounds: the annual interest rate is 17%, the return is paid monthly.
Quadruple Certificate: The interest rate is 18%, the return is paid monthly, and its purchase starts from 100,000 pounds as a minimum, then multiples of 10,000 pounds.
Industrial Development Bank
Triple Certificate: The annual interest rate is 16.5%, the return is spent weekly, 17% is spent monthly, 17.25% is spent quarterly, 17.5% is spent semi-annually, and 18.5% is spent annually, and it can be purchased from the first 50,000 pounds as a maximum. Minimum and multiples of 5 thousand pounds.
Arab African International Bank
Triple Certificate: The annual interest rate is 17.25%, the return is paid monthly, 17.5% is paid quarterly, and 18.75% is paid annually, and it can be purchased from the first 5 thousand pounds as a minimum.
Al Ahli Bank of Kuwait
Triple Certificate: The interest rate is 17.5%, the return is paid monthly, and 18.25% is paid quarterly, and it starts to be purchased from the first thousand pounds.
Triple certificate with a minimum of 500,000 pounds: the interest rate is 18%, paid monthly.
Arab Bank
Triple Certificate: The interest rate is 18% annually, the return is paid daily, and the minimum issuance is 10,000 pounds.
Ahli United Bank
Triple Certificate: The annual interest rate is 17.25%, the return is paid monthly, 17.5% the return is paid quarterly, 17.65% for the semi-annual return exchange period, and the return is 18% paid annually.
Bank of Alexandria
Triple Certificate: The annual interest rate is 18%. The return is paid monthly, and the minimum purchase price starts from the first 500,000 pounds. It also sells a certificate from the first 1,000 pounds, but at a low interest rate.
Med Bank
Triple certificate: an annual interest rate of 18%, the return of which is paid in advance monthly, and the minimum purchase is from 5 thousand pounds, then multiples of one thousand pounds.
Attijariwafa Bank Egypt
Triple Certificate: The annual return rate is 17.50%, paid monthly, 17.70% paid quarterly, 17.8% paid annually, and 18% at the end of the period, and the minimum purchase amount is 5 thousand pounds.
Abu Dhabi Commercial Bank Egypt
Triple Certificate (Excellence): The annual interest rate is 15.5%, the return is paid daily, 17.5% is paid monthly, 17.75% is paid every 3 months, and 18.5% is paid annually, and the minimum purchase is not less than 100,000 pounds.
Triple Certificate (My Money): At an interest rate of 15%, the return is paid monthly, and 15.25% is paid quarterly, with a minimum of 10,000 pounds for purchase.
First Abu Dhabi Bank Egypt
– Triple certificate: at an annual interest rate of 17%, with a monthly return, provided that the minimum purchase amount is not less than 10,000 pounds.
– Triple certificate: at an annual interest rate of 17.5%, with a monthly return, provided that the minimum purchase amount is not less than EGP 500,000.
– Triple certificate: at an annual interest rate of 18%, with a monthly return, provided that the minimum purchase amount is not less than 2.5 million pounds.
National Bank of Egypt
Triple certificate: with an annual interest rate of 16% for the monthly return, 16.25% for the quarterly return, 16.5% for the semi-annual return, and 17.25% spent annually, and its purchase starts from the first thousand pounds as a minimum.
Egypt Bank
Triple Certificate: At an interest rate of 17.25%, the return is paid annually, 16% monthly, and 16.25% paid quarterly, and its purchase starts from the first thousand pounds as a minimum.
Cairo Bank
Triple certificate: 16% annual interest is paid with a monthly disbursement period, 16.25% for the quarterly return, 16.5% for the semi-annual return, and 17.25% for the annual return, and it starts to be purchased from the first 5 thousand pounds as a minimum.
Commercial International Bank
– Certificate for 3 years (Premium): The interest rate is 17%, the return is paid monthly, or 18%, the return is paid annually, provided that the minimum purchase is not less than one million pounds.
– Triple Certificate (Plus): The interest rate is 16.5%, the return is paid monthly, or 17.5%, the return is paid annually, provided that the minimum amount is not less than 200,000 pounds for purchase.
The triple certificate (Prime): The interest rate is 16% for the monthly return exchange period, and 17% for the annual return exchange period, provided that the minimum purchase starts from 10,000 pounds.
Abu Dhabi Islamic Bank
Triple certificate: at an annual interest rate of 16% for the periodic exchange of a monthly return, 16.25% every 3 months, and 55% at the end of the certificate period, and the minimum purchase is one thousand pounds.
Triple certificate: at an annual interest rate of 17.25%, to be paid annually, provided that the minimum amount is not less than one million pounds.
QNB ALAHLI Bank
Triple Certificate: The interest rate ranges between 16% annually with a monthly return exchange period, 16.25% with a quarterly return exchange period, and 17.25% with an annual return exchange period.
Al Baraka Bank Egypt
Triple certificate: It offers a variable return of not less than 16%, paid monthly, and 17.25% paid annually, and the minimum purchase amount is 5 thousand pounds multiples of one thousand pounds.
agricultural Bank
Triple certificate: The annual return rate is 16%, paid monthly, 16.25% annually, paid quarterly, and 17.25%, the return is paid annually, and it starts to be purchased from the first thousand pounds as a minimum.
Housing & Development Bank
Triple certificate (premium): at an annual interest rate of 16% for the monthly return, 16.25% for the quarterly return, 16.5% for the semi-annual return, and 17% for the annual return, and the minimum purchase amount is one thousand pounds.
Triple Certificate (Royal): The annual interest rate is 16.25%, the return is paid monthly, and 17.25% is paid annually, and the minimum purchase amount is one million pounds, then multiples of 100,000 pounds.
HSBC Bank
Triple Certificate: The annual interest rate on it is 16%, the return is disbursed monthly, and it starts to be purchased from the first 10,000 pounds.
Arab International Bank
Triple certificate: with an annual interest rate of 15%, the return is paid monthly, and 15.25%, the return is paid quarterly, and it starts to be purchased from the first 5 thousand pounds as a minimum, then multiples of one thousand pounds.
Egyptian Gulf Bank
Triple certificate: with a fixed and variable monthly return together, as it is granted during the first year a return of 20%, while in the second and third years it is granted a return according to the deposit price with the Central Bank and it starts to be purchased from the first thousand pounds.
Triple certificate: at an interest rate of 16% annually, and the return is paid monthly with a minimum of one thousand pounds for issuance.
Credit Agricole Egypt Bank
Triple Certificate: The annual interest rate on it is 14.5%, the return is paid monthly, 14.75% is paid quarterly, and 15% is paid semi-annually, and the minimum purchase starts from one thousand pounds.
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