01:04 PM
Thursday January 20 2022
I wrote – Manal Al-Masry:
Banque Misr offers 9 types of savings certificates available to customers for daily purchase, and each certificate differs from the other in the interest rate and the period of linking the certificate, as well as the type of return, fixed or variable.
Banque Misr continues to provide the same interest rates on savings certificates applied over the past year without change, even with the beginning of the new year 2022, as a result of the stability of the monetary policy vision responsible for setting the interest rate on deposits and lending in the Central Bank.
There are two types of return, one of which is fixed over the duration of the certificate without change, and the other is variable, i.e. linked to the average interest rate of the central bank, whether up or down.
Banque Misr allows customers to have the right to break the certificate and recover all or part of the original certificates at any time, provided that 6 months have passed since their purchase according to the terms signed by the customer, with a deduction of a percentage of the benefits he obtained due to breaking them before their expiry date.
Savings certificates in Banque Misr
Masrawy presents 9 different types of savings certificates at Banque Misr as follows:
1- The Summit Certificate for 3 years: the interest rate is 11% annually, and the return on it is paid monthly, steadily over its term, and its purchase starts from the first thousand pounds and its multiples without a maximum.
2- 5-year certificate (fixed return): the interest rate is 9% annually, the return is paid monthly, and its purchase starts from the first 1200 pounds, without a maximum purchase limit.
3- 5-year certificate (with a fixed return): the interest rate is 9.5% annually, and the return is paid annually and starts to be purchased from the first thousand pounds without a maximum purchase limit.
4- 7-year certificate (fixed return): the interest rate is 9.7% annually, the return is paid monthly, and its purchase starts from 750 pounds without a maximum purchase limit.
5- The selection certificate with a cumulative return for a period of 5 years: the interest rate is 8% annually, which is a compound return, that is, it is spent with the original certificate at the end of its term, and the minimum purchase starts from 681 pounds without a maximum purchase limit.
6- Selection certificate with a cumulative return for a period of 10 years: the interest rate is 8.25% annually, the return is disbursed with the original certificate at the end of its term, and the minimum purchase starts from 453 pounds without a maximum purchase limit.
7- Egyptian security certificate: an insurance policy and an annual return at an interest rate of 13% annually, and the return is disbursed at the end of the period following paying the value of the installments, and the purchase starts from 500 pounds, with a maximum of 2500 pounds.
8- A 3-year variable-return certificate: the interest rate varies daily, linked to the recently approved Konya Index of the Central Bank, through which the interest is determined, and the minimum purchase starts from 500 pounds, without a maximum purchase limit.
9- A 3-year variable-return certificate with a quarterly exchange period: the interest rate is currently 8.5% annually, and it is linked to the average corridor price at the Central Bank, with an increase of 0.25%. From the first thousand pounds without a maximum purchase.
