High-Yield Savings Certificates: Interest Rates and Details from National and Egyptian Banks

National and Egyptian Banks to Continue Issuing High-Yield Savings Certificates Tomorrow

By Manal Al-Masry

The National and Egyptian Banks will continue to issue high-yield savings certificates tomorrow, Sunday, on the first working day for banks after the official weekly holiday. This decision comes after the Central Bank’s recent decision to fix the interest rate.

At its meeting last Thursday, the Monetary Policy Committee of the Central Bank decided to keep the interest rate unchanged for the second time in a row. The interest rate for deposits will remain at 18.25%, while the lending rate will stay at 19.25%.

Since last April, Al-Ahly Bank and Misr Bank have been selling two savings certificates at high interest rates. One offers a fixed return, while the other provides a graduated return.

Here are the details of the interest rates on savings certificates in Al-Ahly and Egypt Banks tomorrow, following the Central Bank’s decision:

National Bank of Egypt:
– The Platinum certificate for a fixed return over a period of 3 years offers an annual interest rate of 19%. The return is paid monthly, and the minimum purchase price starts from one thousand pounds and its multiples.
– The Platinum certificate for a period of 3 years with a gradual (decreasing) return offers an annual interest rate that ranges from 22% in the first year, 18% for the second year, and 16% for the third year. The return is paid monthly, and the minimum purchase price starts from one thousand pounds and its multiples.

Egypt Bank:
– The Al-Qimma certificate for a fixed return over a period of 3 years offers an annual interest rate of 19%. The return is paid monthly, and the minimum purchase price starts from one thousand pounds and its multiples.
– The Certificate (Ibn Masr 2) for 3 years with a gradual (declining) return offers an annual interest rate that ranges from 22% in the first year, 18% for the second year, and 16% for the third year. The return is paid monthly, and the minimum purchase price starts from one thousand pounds and its multiples.

These high-yield savings certificates provide an attractive investment opportunity for individuals looking to grow their savings. With the interest rates fixed by the Central Bank, customers can make informed decisions and take advantage of the favorable returns offered by these certificates.

As the National and Egyptian Banks continue to issue these certificates, customers are encouraged to visit their nearest branch to explore the available options and make the most of this opportunity.

What factors contribute to the safety and security of investors’ funds when investing in high-yield savings certificates from the National and Egyptian Banks

Continuously issuing high-yield savings certificates. These certificates have gained popularity among investors due to their attractive interest rates. By offering these certificates, banks aim to encourage individuals and businesses to save and invest their money.

The decision to continue issuing high-yield savings certificates by the National and Egyptian Banks comes after the Central Bank’s decision to maintain the interest rate at its current level. This decision is in line with the Monetary Policy Committee’s goal of stabilizing the economy and ensuring financial growth.

The interest rate for deposits will remain at 18.25%, while the lending rate will stay at 19.25%, providing a stable and favorable environment for investors. With these rates, individuals and businesses can earn substantial returns on their savings, making these certificates an attractive investment option.

Al-Ahly Bank and Misr Bank have been offering high-yield savings certificates since April and will now continue to do so. These certificates have been well-received by investors, as they provide a higher interest rate compared to other investment options available in the market.

Investors can benefit from the high-yield savings certificates by not only earning higher returns but also by having the flexibility to choose the duration of their investment. These certificates offer different tenures, allowing investors to select the option that best suits their financial goals and needs.

Furthermore, the National and Egyptian Banks ensure the safety and security of investors’ funds by being regulated and supervised by the Central Bank. This regulatory oversight provides investors with confidence and trust in these banks.

Overall, the continuation of issuing high-yield savings certificates by the National and Egyptian Banks provides an excellent opportunity for individuals and businesses to grow their wealth. With the stability in interest rates and the safety provided by these banks, investors can confidently save and invest their money, contributing to the overall economic development of Egypt.