12:00 PM Saturday 23 September 2023
Written by Manal Al-Masry:
Tomorrow, Sunday, the first day back to work from the official holiday, banks will begin selling savings certificates with a maturity of 3 years for a fixed return at the same interest rates offered to them after the Central Bank’s decision yesterday, Thursday, to fix the interest rate without change.
The Central Bank of Egypt decided to maintain the interest rate on deposits and lending at the sixth meeting of the Monetary Policy Committee during the current year, last Thursday, at a level of 19.25% for deposits and 20.25% for lending, driven by expectations of currently prevailing inflation rates driven by temporary and climatic factors, according to a statement published on its website. .
Savings certificates with a fixed return for a period of 3 years are among the most in-demand savings vehicles among customers to invest their money in, especially from the segments of pensioners and employees, with the aim of obtaining a regular periodic return that helps them pay their living expenses.
In the following lines, Masrawy provides details of the interest rate on savings certificates in 17 banks tomorrow, Sunday, after the Central Bank’s decision to fix the interest rate.
Mashreq Bank
– The triple certificate with a maturity of 3 years: The annual interest rate is 19.5%. The return is paid monthly, and its purchase begins from the first thousand pounds and its multiples. It is the certificate with the highest return at the bank level.
National Bank of Egypt
– The (Platinum) certificate for a fixed return for a period of 3 years: with an annual interest rate of 19% paid out monthly, and the minimum purchase amount starts from the first thousand pounds and its multiples.
Egypt Bank
– (Al-Qimma) certificate for a period of 3 years (for a fixed return): with an annual interest rate of 19% paid out monthly, and the minimum purchase amount starts from the first thousand pounds and its multiples.
Cairo Bank
– Triple certificate: with an annual interest rate of 19%, the return is paid monthly, and the minimum purchase amount starts from one million pounds, then multiples of one thousand pounds.
– 3-year term certificate: with an interest rate of 18% and the return is paid monthly, and the minimum purchase amount starts from the first 100 thousand pounds, then multiples of one thousand pounds.
– Triple certificate: with an interest rate of 17% and the return is paid monthly, and its purchase starts from the first 10 thousand pounds, then multiples of one thousand pounds.
Al Ahli Bank of Kuwait
– Triple certificate for a fixed return: with an interest rate of 18% annually and the interest is paid monthly, and 19.25% interest is paid quarterly and it starts to be sold from the first thousand pounds and multiples thereof.
The bank also offers another triple certificate with a regular monthly return at an annual interest rate of 19%, but its sale starts from the first 500,000 pounds.
Commercial International Bank (CIB)
– Triple certificate (Premium) for a fixed return: with an interest rate of 18% annually and the return is paid monthly. The bank allows the sale of the certificate from the first million pounds as a minimum, then multiples of a thousand pounds.
– Triple certificate (Plus) for a fixed return: with an interest rate of 17.5% annually and the return is paid monthly. The bank allows the sale of the certificate for the first 500 thousand pounds as a minimum and in multiples of one thousand pounds.
– Triple certificate (Prime) for a fixed return: with an interest rate of 17% annually and the return is paid monthly. The bank allows the sale of the certificate for the first 50 thousand pounds as a minimum and in multiples of one thousand pounds.
QNB AlAhli Bank
– “QNB Firsts” certificate: with an interest rate of 19%, the return is paid monthly, 19.10% is paid quarterly, and 19.25% is paid annually, and its purchase starts from the first 10 thousand pounds, and in multiples of one thousand pounds.
Egyptian Agricultural Bank
– Triple “Al-Khair” certificate: with an annual interest rate of 19%, the return is paid monthly, and 19.5% is paid semi-annually and can be purchased from the first thousand pounds.
Al Baraka Bank
– A 3-year savings certificate (compatible with the provisions of Islamic Sharia): with a high variable return of no less than 19% annually, the return is paid monthly, and its purchase begins from the first thousand pounds.
United Bank
– “Elite Investment” certificate with a term of 3 years, variable return: with an annual interest rate of 19% disbursed monthly, compatible with the provisions of Sharia and available to natural individuals. Investments in the certificate start from a thousand pounds and its multiples, and it provides the possibility of obtaining financing compatible with the provisions of Sharia by guaranteeing the certificate.
Egyptian Gulf Bank (EGBank)
– A 3-year certificate for a fixed return: with an annual interest rate of 19%, and the interest is paid monthly.
HSBC Bank Egypt
– Triple certificate for a fixed return: with an annual interest rate of 17.25%, the return is paid monthly, and the sale of the certificate starts from the first 10 thousand pounds as a minimum, and in multiples of one thousand pounds.
Emirates NBD Bank Egypt
– Triple savings certificate: with an annual interest rate of 18%, the return is paid monthly, 18.25%, the return is paid quarterly, and 18.5% with an annual interest payment period, and the minimum purchase amount is 100 thousand pounds, then multiples of one thousand pounds.
Med Bank
Triple Certificate: The annual interest rate is 18%, the return is paid monthly in advance, and the minimum purchase amount starts from the first 5,000 pounds.
Bank of Alexandria
– Triple certificate: With an annual interest rate of 18%, the return is paid monthly, and the minimum purchase starts from the first 500,000 pounds. It also sells a certificate from the first thousand pounds, but at a low interest rate.
Arab Bank
Triple Certificate: The annual interest rate is 15.75% for the daily return, 17% for the monthly return, and 18% for the annual return, and its purchase starts from the first 10,000 pounds as a minimum and multiples thereof.
Arab International Bank
-Triple certificate: The annual interest rate recorded 16.25% for the monthly return, 16.5% for the quarterly return, and 17% for the annual return, and the minimum purchase amount starts from the first 5 thousand pounds.
2023-09-23 09:00:00
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