03:55 PM
Tuesday 02nd February 2021
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I wrote – Manal Al-Masry:
The map of higher-yielding savings certificates has changed in the Egyptian banking market, after measures to reduce interest on these certificates over the past few days.
The last of these measures was the decision of the National Bank of Egypt to reduce interest on investment bank certificates of all kinds by a rate ranging between 0.25% to 3.75% on the one-year certificate, last Sunday.
Then the National Bank announced that it had acquired these certificates to be among its saving containers after it was selling them for the National Investment Bank.
Masrawy offers the highest advance interest on investment certificates in 9 banks, after the low interest rates
1- National Bank:
Platinum Savings Certificate 3 years, 11% interest, the return shall be paid monthly.
Platinum Savings Certificate 5 years, the interest rate is 10.25% annually and the interest is paid monthly.
An investment certificate (A) with a cumulative return of ten years, an interest rate of 9.5% annually, and disbursed with the end of the terms of the certificate.
Investment certificate (B) has one year, the interest rate is 6% annually, and the return is paid monthly.
Investment Certificate (B) has a maturity of two years, which gives an annual return of 6.5%, and the return is paid every 3 months.
Investment Certificate (B) has a term of three years: with an annual return of 9%, to be paid every 3 months.
2- Banque Misr:
Triple Summit Certificate: With an annual return of 11%, to be paid monthly for 3 years.
3- Housing and Development Bank:
Three-year reconstruction certificate: interest ranges between 10.75% annually for the monthly return, 11% annually for the quarterly return, 11.5% annually for the semi-annual return, and 12% annually for the annual return, according to the bank’s website.
4- Banque du Caire:
Primo Star 3-year certificate: Interest ranges between 10.75% for the monthly return, 11.25% for the quarterly return, and 11.5% for the semi-annual return.
5- Arab African International Bank:
Emerald Certificate 3 years: The annual return ranges between 10.5% for the periodical monthly return, 10.75% for the periodic quarterly return, 10.8750% for the periodic semi-annual return, and 11% annually for the periodic annual return.
6- Nasser Social Bank:
3-year certificate: The interest ranges between 11.5% annually paid at the end of each year and 11% paid monthly.
7-The United Bank:
Sells a 3-year certificate at an interest rate of 11% per annum for a monthly return, and 11.25% per annum for a quarterly return.
8- Real Estate Bank:
A certificate is offered with a maturity of 3 years and at an interest rate ranging between 11% annually for the monthly return, and 11.25% annually for a quarterly return.
9-Egyptian Bank for Export Development:
It sells a certificate with a maturity of 3 years and an interest rate of 11% for the periodic payment of the return monthly, and 11.25% for the periodic payment of the return quarterly.
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