Certificates are one of the common ways among Egyptians to save, and the National Bank of Egypt provides the Mother of Egyptians certificate to its customers and we publish the details as follows:
- Return type: Fixed for the duration of the certificate.
- It is not permissible to borrow against the guarantee of these certificates or to issue credit cards of all kinds.
- The certificate is recovered in full at the end of the period (nominal value + the remaining returns after deducting the value of the installments) and can be redeemed at any time from the date of purchase according to the customer’s desire with the value for which the certificate was purchased.
- A life insurance policy is provided to the customer from the age of 18 to 59 years without a medical examination.
- Minimum purchase amount: 500 pounds and its multiples, and a maximum of 2500 pounds.
- Duration: 3 years.
- Return rate: 13%.
- The monthly insurance premium is paid from the certificate return.
- Compensation is due in the event of the insured’s death, with a maximum of 50,000 pounds for natural death, and 250,000 pounds for accidental death.
- The security deposit (compensation) can be paid in the event of death on a guaranteed pension for a specified period.
- The insurance policy lapses if the customer retrieves the certificate, or the customer reaches the age of 60.
- A quarterly draw is made with 200 prizes, at a rate of 10,000 EGP net for each prize “tax free”.
- It can be purchased with the Fon Cash wallet.
- Issued to individuals from 18 years old to 59 years old.
- Entities can purchase the certificate for the benefit of its employees, provided that it is not refundable within 6 years from the date of purchase.
- Certificates are nominal and may not be circulated, endorsed, transferred, deducted, mortgaged, or disposed of in any form of proprietary behavior.
- Certificates are renewed automatically according to the price announced at the time.
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