The National Bank of Egypt, the largest government bank in Egypt, has launched a new savings certificate in the US currency, the “dollar”, with an interest rate of 10% on a quarterly basis.
The National Bank of Egypt specified a period of 3 years for the new dollar certificate, which is called the “Nile” certificate, provided that the value designated for its purchase is 1,000 US dollars and its multiples.
And according to the National Bank of Egypt, in a statement seen by “Banker”, the interest on the “Nile” certificate will be periodic at a rate of 9.85% on the monthly basis, and 10% on the quarterly basis.
The National Bank of Egypt set a number of conditions for the “Nile” dollar certificate, which included that the value of the certificate may not be refunded before the lapse of 6 months starting from the working day following the day of purchase, and it is also possible to recover after that period, provided that the return is recalculated according to the recovery rates. the next:
More than 6 months to less than 2 years 7%.
Two years and less than 3 years 8%.
The National Bank of Egypt also specified those who have the right to purchase the Nile dollar certificate, and they are:
Egyptians residing abroad
– aliens
– Egyptians who have residency abroad and are in Egypt
– Egyptians have another nationality (dual nationality) and are in Egypt
2023-06-02 21:14:29
#National #Bank #Egypt #issues #savings #certificate #dollars.. #interest #reaches
