A number of banks provided savings certificates to pensioners, starting from the age of 60, in order to obtain distinct interest and be on easy terms compared to other containers. These banks are Al-Ahly, Egypt and Social Nasser.
It is also possible to issue a direct debit card to deal with the withdrawal and deposit service on ATMs, and it is also possible to subscribe to the Internet or mobile banking service.
Types of savings certificates provided by banks to pensioners:
First, National Bank of Egypt:
- The interest rate is 5.25% annually for the monthly return.
- The minimum amount to open the account is 5 thousand pounds.
- The maximum limit for the account. The bank allows pensioners to invest their money up to one million pounds or the end of service gratuity value.
Secondly, Banque Misr:
- The interest rate is 3% annually for the periodic payment of the monthly return.
- The minimum amount to open the account is one thousand pounds.
Third, Nasser Social Bank:
- A return certificate for 3 years, and the interest rate ranges between 11.25% annually for the monthly return and 12% annually for the annual return.
- A return certificate for one year, and the interest rate ranges between 10.75% annually for the annual return and 10.25% annually for the monthly return.
- The value of the certificate link and starts from one thousand pounds up to two million pounds as a maximum for investment in this type.
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