11:28 PM
Tuesday 01 December 2020
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I wrote – Manal Al-Masry:
The National Investment Bank reduced the interest on investment certificates that are offered through the National Bank of Egypt between 0.5% and 1% depending on the type of certificate, starting tomorrow, Wednesday.
The National Investment Bank uniquely sells investment certificates of different terms in all of its branches spread across the country on behalf of the National Investment Bank.
The interest decreased by 0.5% on the investment certificate (A), which has an accumulated return, to decrease to 9.75% annually instead of 10.25% annually. The return is paid at the end of its period.
The interest decreased by 0.5% on the investment certificate (B) with a monthly return, to 9.75% annually instead of 10.25% annually. The term of the certificate is one year, and its purchase starts from the first thousand pounds.
The interest decreased by 1% on the investment certificate (B), which has a quarterly return, to 9.5% annually instead of 10.5% annually. The period of the certificate is two years and its purchase starts from the first 500 pounds.
The interest decreased by 0.75% on the investment certificate (B) for a quarterly return, to decrease to 9.25% annually instead of 10% annually. The term of the certificate is 3 years and its purchase starts from the first 500 pounds.
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