“National and Egypt Banks offer high-return certificates ahead of Central Bank meeting”

11:21 p.m

Saturday, May 13, 2023

I wrote – Manal Al-Masry:

The National and Egyptian Banks continue to offer certificates with maturities of 3 years, with high returns on the Egyptian pound, to customers, before the meeting of the Monetary Policy Committee of the Central Bank next Thursday to discuss raising the interest rate, after it decided to raise it by 2% at its last meeting.

The Central Bank raised the interest rate by 10% during the last 14 months on 5 times, the last of which was 2% at the meeting of last March, to record a return of 18.25% for deposits and 19.25% for lending.

Al-Ahly Bank and Egypt Bank allow the sale of high-interest certificates, whose annual return reaches 19% or 22%, depending on the type of certificate, for a fixed or diminishing return from the first thousand pounds, to facilitate customers’ investment opportunities in them, whether in low or large amounts, according to the ability of each customer.

The two banks allow the customer the ability to borrow up to 90% of the total value of the certificate, and to issue a credit card for purchases in installments.

In the following lines, Masrawy provides details of the sale of high-yield triple certificates in Al-Ahly and Egypt Banks before the next meeting of the Central Bank’s Monetary Policy Committee.

National Bank of Egypt

Platinum certificate for fixed return for a period of 3 years: at an annual interest rate of 19%, paid monthly, and the minimum purchase amount reaches one thousand pounds, and it can be purchased in multiples.

Platinum certificate for 3 years with a gradual (decreasing) return: the annual interest rate reaches 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly, and the minimum purchase amount reaches one thousand pounds, and it can be purchased in multiples.

Egypt Bank

– Al-Qimma certificate for a period of 3 years (for fixed return): at an annual interest rate of 19%, paid monthly, and the minimum purchase amount reaches one thousand pounds, and it can be purchased in multiples.

– “Ibn Misr 2” certificate for a period of 3 years with a gradual (decreasing) return: the annual interest rate reaches 22% in the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly, and the minimum purchase amount reaches one thousand pounds It can be purchased in multiples.