2023-04-25 17:10:00
Banks will return to work tomorrow, Wednesday 4-25-2023, following a 5-day vacation, following the end of the blessed Eid Al-Fitr vacation granted by the Central Bank of Egypt to bank workers from April 20 to April 25, 2023.
The Central Bank of Egypt had raised interest rate By regarding 200 points, and as a result, banks operating in Egypt raised the interest rate on savings certificates and savings accounts.
Offering new certificates
In the coming lines, Sada Al-Balad news site presents certificates with the highest returns in banks operating in Egypt.
Many citizens are looking for the best ways to invest their savings safely, and among these methods is linking these funds in savings certificates in banks.
A large number of banks offered a number of savings certificates that differ in terms of duration and rate of return from one bank to another.
Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank offered Islamic sukuk in pounds, with an expected return of 17.25% and receiving 10% of the profits in advance.
A number of banks had raised interest rates on deposits and lending following the Central Bank of Egypt’s decision to raise interest by 2%.
Industrial Development Bank
The Industrial Development Bank introduced a new certificate under the name (Your choice with a cumulative return paid in advance) with a cumulative return of 39%.
According to what the bank announced, the term of the certificate is 3 years, and the return for the second day of purchase is obtained in one payment in advance.
The Industrial Development Bank set the minimum for purchasing the certificate at 50,000 pounds for the first time, and the amount can be increased by multiples of 5,000.
Regarding the terms of recovery, the customer can retrieve the certificate following 6 months from the date of linking it following applying recovery fines that amount to 7% during the first year, 6% during the second year, and 5% if the breakage occurred during the third year.
The customer can also obtain a loan once morest the guarantee of the certificate up to 50% of the value of the certificate.
National Gulf Bank
Al Ahli Gulf Bank announced Submit a new certificateat a fixed rate of return during the first year of 23% annually, and the rate of return is variable following the lapse of one year and is equal to the deposit rate announced by the Central Bank of Egypt for one night in effect starting from the day following the end of the first year.
Certificates of the National Bank of Egypt
The National Bank of Egypt and Banque Misr announced the issuance of two new certificates on Sunday 2-4-2023, with an interest of 19% fixed and 22% declining; Two certificates of 3 years.
Regarding the details of the new certificates presented by the National Bank of Egypt and Banque Misr, the first certificate is a fixed certificate for a period of 3 years at a rate of 19% annually, and the return is paid monthly.
New Ahli Bank certificates
Regarding the second certificate, both the National Bank of Egypt and Banque Misr presented a decreasing certificate for a period of 3 years, at an annual rate of 22% for the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly.
Banque Misr certificates
Banque Misr offered a certificate with a decreasing annual return starting at 22% in the first year, 18% in the second year, and 16% for the third year, the return of which is paid monthly.
Banque Misr Certificates 2023
- It is possible to borrow with the guarantee of these certificates from any of the branches of the two banks.
- Credit cards of all kinds can be issued with the guarantee of these certificates.
- Start calculating the return from the business day following the day of purchase.
It cannot be redeemed before the lapse of 6 months, and it can be redeemed before the end of the period in accordance with the rules and conditions announced by the bank.
Cairo Bank certificates
announce Cairo Bank Adjusting the interest rate on the Primo Gold certificate in Egyptian pounds, with a fixed return for a period of 3 years, at a rate of 19%, annually, and the return is paid monthly, and issuing a Primo Gold certificate with a declining return in Egyptian pounds, for a period of 3 years, at an annual price of 22% for the first year, 18% for the second year, and 16% for the second year. For the third year, the return is paid monthly.
This step comes within the framework of an effort Cairo Bank Continuing to meet the requirements of all customer segments and motivate deposit holders to maintain the purchasing value of their savings, as well as stimulating the savings value of the Egyptian pound by providing a competitive return.
Certificates of the Egyptian Agricultural Bank
The Agricultural Bank of Egypt announced the issuance of a new certificate for a period of 3 years, with a return of 19%, paid monthly, and a return of 19.5% paid annually.
The new Al-Khair Certificate is available in the bank’s branches, and it is issued in denominations of 1000 Egyptian pounds and its multiples, and the certificate allows the possibility of borrowing once morest its guarantee.
Nasser Social Bank announced the launch of a new certificate under the name “Decent Life” with a competitive return for a period of 3 years, in coordination between the bank and the Decent Life Foundation.
The return on savings certificates with a term of 3 years was raised to 19% annually, 17.75% is paid quarterly, and 17.5% is paid monthly.
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