2023-12-05 08:36:00
The National Bank of Egypt was established on June 25, 1898, with a capital of one million pounds, and it is considered one of the oldest and most important commercial banks in Egypt. Its tasks and activities constantly evolved to match the economic and political developments in the country. The bank is distinguished by its effective role in issuing and managing investment certificates on behalf of the state since the mid-1960s.
Interest rates on National Bank certificates today
High-yield 25% savings certificates issued by Egyptian public banks, including the National Bank of Egypt and Cairo, expire next January. These certificates represent an investment worth 500 billion pounds, imposing higher obligations on depositors in principle and in interest. The National Bank and Misr Bank collected savings products worth 460 billion pounds through the subscription of savings certificates with a monthly return of 22.5% and an annual return of 25%, which were issued last January. Banque du Caire also issued the same certificate for two weeks, and the proceeds of its subscriptions have not yet been announced.
National Bank certificates
The National Bank of Egypt offers investment certificates in category “A” starting from 500 pounds, with an investment period of up to 10 years and a cumulative interest of 10% paid until the end of the investment period, with the possibility of borrowing at its nominal value.
The bank also offers investment certificates in category “B” starting from 500 pounds, with the possibility of increasing the amount by the same value for a period of up to one year, and an annual return of 11.50% disbursed monthly, which provides the opportunity to obtain a guaranteed loan at its nominal value.
Common features of certificates
These certificates are nominal, and cannot be exchanged, endorsed, transferred, discounted, mortgaged, or waived by any form of transfer of ownership. Certificates are automatically renewed at the stated price at that time.
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